GSIS readies P18.5B for emergency loans to typhoon-hit members

The Government Service Insurance System (GSIS) has earmarked P18.5 billion in emergency loans to aid 864,089 members and pensioners affected by Supertyphoon Carina and the southwest monsoon in Batangas, Rizal, and the National Capital Region (NCR).

These regions, declared by President Marcos as calamity areas on Wednesday, will see loan applications open from July 26 to October 28, 2024.

The emergency loan program aims to provide immediate financial relief to those impacted by natural disasters, GSIS said in a statement.

GSIS president Wick Veloso

“We understand the urgency of the situation and the dire need for financial assistance of our members and pensioners affected by super typhoon Carina.
In times of calamity, our primary goal is to be a pillar of support for them.”

Members and pensioners with existing emergency loan balances can borrow up to P40,000, allowing them to clear previous loans and receive a net amount of P20,000.

Those without existing loans may apply for up to P20,000. The loan features a low-interest rate of 6% per annum and a repayment period of three years.

To qualify, active members must not be on unpaid leave, have no pending administrative or legal cases, and have made at least six monthly premium payments before applying. Their net take-home pay should be no less than P5,000.

Old-age and disability pensioners must have a net monthly pension of at least 25% of their gross pension after loan amortization.

Applications can be submitted online via the GSIS Touch mobile app or through GSIS Wireless Automated Processing System (GWAPS) kiosks located in GSIS branches, major government offices, and selected malls.

For more information, visit the GSIS website, follow their Facebook page, email gsiscares@gsis.gov.ph, or call the GSIS Contact Center.