The Government Service Insurance System (GSIS) is offering its emergency loan program in Marawi City from July 5-August 3 to assist its members and pensioners who have been affected by the armed conflict in the area.
Qualified to avail of the program are active GSIS members working or residing in Marawi City and old- age pensioners who are living in the area.
A total of 11, 128 members and 592 old-age pensioners are set to benefit from the program which has a total budget of Php282 million.
“Since the clashes between military forces and the terrorist group have been preventing the city council to convene and issue the required resolution declaring Marawi as a calamity area, GSIS decided to forego said requirement and immediately offered the loan to help its members and pensioners in the area,” GSIS Officer in Charge Atty. Nora Malubay-Saludares said.
Members who are availing of the loan for the first time may apply for a P20,000 emergency loan, while those with loan balance may borrow P40,000. Old-age pensioners may apply for a P20,000 emergency loan. The deadline for the submission of loan application is August 3, 2017.
First-time borrowers may apply for a Php20,000 emergency loan. Those with existing emergency loan may borrow Php40,000, from which their outstanding balance will be deducted.
Active members may apply through the GSIS Wireless Automated Processing System (GWAPS) kiosks 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 City.
Old-age pensioners may avail of the loan by personally applying at any GSIS branch office. Pensioners who have become active members anew after reentering government service may apply for the loan only once.
The loan is payable in 36 equal monthly instalments at six percent interest rate per annum. It is covered by a loan redemption insurance, which deems the loan fully paid in case of the borrowers’ demise, provided that loan repayment is up to date.
Loan proceeds are electronically credited to the borrower’s GSIS eCard or unified multipurpose identification (UMID) card.