GSIS opens emergency loan in Agusan del Sur due to flooding

Published

Heeding the president’s call to provide assistance to victims of calamities, the Government Service Insurance System (GSIS) has opened its emergency loan window until March 15 to aid GSIS members and pensioners adversely affected by the flooding in the province of Agusan del Sur.

A total of 17,079 active members and 2,298 old-age pensioners who are working or residing in the area may apply for the emergency loan. The state pension fund set aside nearly P499 million in loan window.

Active GSIS members living or working in the calamity-hit areas are eligible for the loan. They must have paid their premiums within the last six months prior to application and not be on leave of absence without pay. They should have no pending administrative or criminal case and a have a resulting net take-home pay of at least P5,000 after all the required monthly obligations have been deducted.

Old-age and disability pensioners residing in the calamity areas may also avail of the loan as long as their resulting net monthly pension after loan availment is at least 25% of their basic monthly pension. They must also have no outstanding loan being deducted from their monthly pension except pension loan.

Members with existing emergency loans may borrow up to P40,000 to settle previous loan balances, ensuring a maximum net amount of P20,000. Those without any outstanding emergency loan, including pensioners, may apply for a P20,000 loan.

The loan has a 6% interest rate and a three-year payment term.

Share post:

Subscribe

spot_imgspot_imgspot_imgspot_img

Popular

More like this
Related

Taliptip, Perez road rehab tapos ngayong June

BULAKAN, Bulacan—Sunod sa schedule na matatapos ngayong buwan ng...

SM Bulacan malls celebrate 126th Philippine Independence Day

SM Malls in Marilao, Baliwag, and Pulilan joined the...

EVAP Welcomes New Member QSJ Motors Philippines, Launches Seres Brand in Local Market

Manila, Philippines, June 10, 2024 – The Electric Vehicle Association...

Prayer for the flag

By Herman M. Lagon As the vibrant flags flutter and stories of...