GSIS allots P147M for emergency loan in Batanes, Apayao

The Government Service Insurance System (GSIS) allotted P147 million in emergency loan for members and old-age pensioners in Batanes and Apayao after typhoons damaged shelter, agricultural crops, and livelihood in both provinces.

GSIS earmarked P45 million and P102 million in emergency loan in Batanes and Apayao, respectively.  The deadline for loan application is Oct. 23, 2015.

First-time borrowers may apply for a P20,000 loan.  Those who have an existing emergency loan may borrow P40,000, with their outstanding balance to be deducted from the proceeds of their new loan.

Active members who are either working or residing in the two provinces are eligible to apply if they are not on leave of absence without pay, have no arrears in paying premium contributions, and have no loans in default.

They may apply for the loan through the GSIS Wireless Automated Processing System (GWAPS) kiosks in the 42 branch offices, 14 extension offices, and 58 service desks of GSIS; provincial capitols; city halls; municipal offices; large government agencies such as the Department of Education; 27 Robinsons Malls; and SM Supermalls in Manila, Pampanga, and Cebu.

Old-age pensioners are required to apply in person to avail of the P20,000 pension emergency loan.  If they are also active members, they may borrow only once.

The loan is payable in 36 monthly installments, with a 6 percent interest rate per annum.  It is covered by a loan  redemption insurance, which deems the loan fully paid in case of death of the borrower, provided that he or she has up-to-date loan repayment.

Loan proceeds are electronically credited to the borrower’s GSIS eCard or unified multipurpose identification (UMID) card.

Interested applicants who have further inquiries may call the GSIS Contact Center at 847-4747.