GSIS members, pensioners can now apply for loans online

Members and pensioners of the Government Service Insurance System (GSIS) may now apply for loans online, its president and general manager Rolando Macasaet said over the weekend.

Macasaet said GSIS will accept applications online for Consolidated Loan (Conso-Loan), Policy Loan and Pension Loan.

As for Emergency Loan, applications will be opened at a later date.

“I will be making an announcement regarding the Emergency Loan at a later date, perhaps in early April,” Macasaet said.

Those interested to apply for the Conso-Loan, Policy Loan or Pension Loan need to download a form from the GSIS website, fill it out, then email it to GSIS.

Also required are an electronic copy of GSIS temporary or UMID card, a valid ID with picture and signature, and a photo of the member holding the duly accomplished form.

Members are qualified to avail of the Conso-Loan if they have paid the premiums for at least 20 months. Amount of loan may be three times the monthly salary of the member, payable in six years.

For Policy Loan, members may borrow an amount equivalent to the cash value of their life insurance policy. This loan has an interest rate of 8%.

Pension Loan meanwhile is available for pensioners who may avail of a loan amount up to six times their basic monthly pension but not more than P100,000 depending on their age. The loan has a 10% interest per annum and is payable in two years.

Members may check the GSIS website, its official Facebook page, or call (02) 88474747 for more information. —KG, GMA News