QUEZON CITY - The Government Service Insurance System (GSIS) has allotted P4.9 billion in calamity loan for its active members and old-age pensioners who were affected by typhoon Nina in the provinces of Albay, Batangas, Camarines Sur, Catanduanes, Marinduque, Quezon, as well as 6 areas in Oriental Mindoro.
A total of 7,952 active members and 820 old-age pensioners in Calapan City and municipalities of Naujan, Baco, San Teodoro, Pola, and Puerto Galera in Oriental Mindoro may avail of the loan until Feb. 17. The 73,798 active members working or residing as well as the 12,305 old-age pensioners residing in Batangas, Marinduque and Quezon may apply for the loan until Feb. 9.
The application deadline for the 62,339 active members and 11,115 old-age pensioners in Albay, Camarines Sur, and Catanduanes is Feb. 2.
To qualify for the loan, active members must not be on leave of absence without pay, have no arrears in paying premium contributions, and have no unpaid loans for more than six months. Members who are availing of the loan for the first time may borrow P20,000, while those with loan balance, P40,000.
Active members may apply through any GSIS Wireless Automated Processing System (GWAPS) kiosk located in all GSIS branch and extension offices; provincial capitols; city halls; selected municipal offices; large government agencies such as the Department of Education; Robinsons Malls; and selected SM City branches in North EDSA, Manila, Pampanga, Cebu, and SM Aura in Taguig.
Old-age pensioners may apply for a P20,000 loan at the nearest GSIS branch office. Pensioners who are also active members (after reentering government service) may apply for the loan only once.
The loan is payable in 36 equal monthly instalments at 6 percent interest rate per annum computed in advance. It is covered by a loan redemption insurance, which deems the loan fully paid in case of the borrower's demise, provided that loan repayment is up to date.
Loan proceeds are electronically credited to the borrower’s GSIS electronic card (eCard) or unified multipurpose identification (UMID) card.