Fri. Dec 6th, 2019

GSIS offers emergency loan to dengue-affected Sofronio Española members

Active members and old-age pensioners of the Government Service Insurance System (GSIS) in Sofronio Española only have until September 22 to avail of the emergency loan being offered by the state pension fund to residents affected by the dengue outbreak.

The GSIS said in a statement that Sofronio Española has been included in the list of areas where P633 million have been offered to help families of active members and old-age pensioners heavily affected by the outbreak of the mosquito-borne disease.

It said active members with no existing emergency loans and old-age pensioners may apply for a P20,000 loan.

On the other hand, those who have not yet fully paid their previous emergency loans may apply for a P40,000 loan from which their outstanding balance will be deducted.

The GSIS said the emergency loan is payable in 36 months at 6 percent interest rate per annum.

“It is covered by a loan redemption insurance, which deems the loan fully paid in case of the borrower’s demise, provided that loan repayment is up to date,” GSIS said.

Qualified applicants are active members that are working or residing in the calamity-declared areas, not on leave of absence without pay, have no arrears in paying monthly mandatory life insurance or social insurance premium contributions, and have no unpaid loans for more than six months.

The applicants must have a minimum net take-home pay of P5,000 after the monthly premium contributions and loan amortizations have been deducted.

Active members may apply through the GSIS Wireless Automated Processing System (GWAPS) kiosk located in all GSIS branch and extension offices. They may also apply in the Provincial Capitol; municipal hall; selected municipal offices; and other large government agencies.

Meanwhile, old-age pensioners must file their application over the counter to secure their identities.

If the old-age pensioner is also an active member, he or she may apply for the loan only once.

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

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