In a statement, the GSIS said 317,721 active members and old-age and disability pensioners in 16 affected areas may qualify for the loans following Typhoons “Luis,” “Maymay” and “Neneng” and the enhanced southwest monsoon, or habagat.
Application deadlines range from Sept. 20 to Nov. 16, depending on the area.
Application deadlines
Qualified members and pensioners in Hagonoy, Bulacan, and Masinloc, Zambales, have until Sept. 20 to apply.
The deadline is Sept. 26 for Bulacan, except Calumpit and Hagonoy; Bataan; Zambales, except Olongapo City and Masinloc; and La Trinidad, Benguet.
Those in Nasugbu, Batangas, and Paluan, Occidental Mindoro, may apply until Sept. 27.
The deadline is Oct. 2 for other municipalities in Benguet, excluding Baguio City and La Trinidad; Tarlac; and Pangasinan, except Dagupan City, Mangaldan and Sta. Barbara.
Applications will be accepted until Oct. 3 in Imelda, Zamboanga Sibugay; Oct. 7 in Occidental Mindoro; and Oct. 9 in Olongapo City.
The deadlines for Cavite and Rodriguez, Rizal, are Nov. 12 and Nov. 16, respectively.
The areas were placed under a state of calamity by their respective local governments following flooding, property damage and disruptions caused by the weather disturbances.
Up to P40,000
Under the Emergency Loan Program, qualified active GSIS members and old-age and disability pensioners may borrow P20,000.
Those with an existing emergency loan may borrow up to P40,000, with the outstanding balance of their previous emergency loan deducted from the proceeds.
The loan carries a 6-percent interest rate computed in advance and is payable over 36 monthly installments. Monthly amortization is P655.56 for a P20,000 loan and P1,311.11 for a loan of up to P40,000.
Who may apply
Active members must work for an agency located in or reside in a declared calamity area and must not be on leave without pay.
They must also meet premium contribution and loan-payment requirements, have no pending administrative or criminal case, and maintain a minimum monthly take-home pay of P5,000 after availing themselves of the loan.
Old-age and disability pensioners must reside in a declared calamity area and retain at least 25 percent of their basic monthly pension after taking out the loan.
Members and pensioners may apply through the GSIS Touch mobile app. Loan proceeds will be credited directly to the borrower's accredited eCard or UMID card. —Ed: Corrie S. Narisma
