In observance of the Holy Week, the Philippine News Agency’s online news service will be off on March 29, Good Friday, and March 30, Black Saturday. Normal operations will resume on March 31, Easter Sunday.

— The Editors

GSIS preps emergency loan for Agusan Sur, Mindoro towns

By Wilnard Bacelonia

June 1, 2023, 4:06 pm

<p>GSIS facade <em>(File photo)</em></p>

GSIS facade (File photo)

 
MANILA – Active members and pensioners from nine power crisis-affected Occidental Mindoro towns and those affected by flash floods and landslides in Agusan Del Sur can now avail of emergency loan from Government Service Insurance System (GSIS).
 
 
GSIS President and General Manager Wick Veloso on Thursday said a total of 17,010 active members and 1,563 old-age and disability pensioners working or residing in the municipalities of San Jose, Magsaysay, Calintaan, Rizal, Sablayan, Santa Cruz, Mamburao, Paluan and Abra de Ilog, as well as in Prosperidad may apply for the emergency loan until June 21.
 
 
“Having the financial means to provide for basic needs amidst a natural disaster is important," he said, saying that the state pension fund is readying over PHP437.5 million for this purpose.
 
 
To qualify for the loan, active GSIS members must not be on leave of absence without pay; have at least three months of paid premiums within the last six months prior to application; have no pending administrative or criminal case; have no due and demandable loan; and have a net take-home pay of not lower than PHP5,000 after all required monthly obligations have been deducted.
 
 
Old-age and disability pensioners are also qualified to apply if their resulting net monthly take-home pension after loan availment is at least 25 percent of their basic monthly pension.
 
 
Members with existing emergency loan balance may borrow up to PHP40,000 to pay off their previous emergency loan balance and receive a maximum net amount of PHP20,000.
 
 
Pensioners and those without existing emergency loan may apply for a PHP20,000 emergency loan.
 
 
The loan, which is payable in 36 equal monthly instalments, has an interest rate of only 6 percent per annum.
 
 
It also has a loan redemption insurance, which deems the loan fully paid in case of the borrower’s demise, provided the loan payment is up to date.
 
 
GSIS urges its members and pensioners to file for emergency loan using the GSIS Touch mobile application, which may be downloaded  from Google Play Store and Apple App Store, and has been enhanced with a facial recognition feature. (PNA)

Comments