GSIS Allots P2.8B in Emergency Loans for Members

The Government Service Insurance System (GSIS) has allocated over PHP 2.8 billion in emergency loans for around 87,000 members and pensioners affected by recent calamities in nine areas across Luzon and the Visayas.

This loan program is available to active members, as well as old-age and disability pensioners, in areas declared under a state of calamity due to severe weather and mosquito-borne diseases.

The deadline for loan applications varies depending on the area.

For residents in Ilocos Norte, the deadline is Nov. 5, 2024, while for those in Northern Samar, Dingle in Iloilo, and Hinigaran in Negros Occidental, the cutoff is Nov. 7, 2024.

In Vinzons, Camarines Norte, the deadline is Dec. 24, 2024. Other areas, including Palawan, Mountain Province, Batanes, and Cagayan, have deadlines extended into January 2025.

To be eligible, active members must be currently employed, have no pending legal cases, and have completed at least six months of premium payments.

Their net take-home pay should also meet the PHP 5,000 minimum requirement set by the General Appropriations Act.

Pensioners must ensure that their net monthly pension is at least 25% of their gross pension.

Members and pensioners with existing emergency loan balances can borrow up to PHP 40,000, allowing them to pay off previous loans and still receive a net amount of PHP 20,000. Those without outstanding loans can apply for up to PHP 20,000.

The loan features a low interest rate of 6% per annum, payable over three years.

Applications can be submitted through the GSIS Touch mobile app, with further information available on the GSIS website and other communication channels.