GSIS: Emergency loan activated in areas under state of calamity

The Government Service Insurance System (GSIS) on Friday said its emergency loan is immediately available in areas placed under a state of calamity amid the ongoing onslaught of Severe Tropical Storm Kristine.

In a statement, GSIS said financial assistance to members and pensioners hit by the weather disturbances is now open and can be availed of by those in Albay and Naga City.

The pension fund said the emergency loan program is “ready to be activated in areas officially declared under a state of calamity.”

GSIS said it is monitoring other areas in the Bicol Region, CALABARZON, MIMAROPA, Central Visayas, Negros Island Region, Eastern Visayas, and Mindanao for state of calamity declarations. 

“Once an area is declared under a state of calamity, GSIS will immediately make the loan available to qualified members and pensioners,” the pension fund said.

GSIS president and general manager Wick Veloso, meanwhile, urged the pension fund’s members and pensioners to use the GSIS Touch in applying for loans for safe and quick transactions.

Veloso said that the GSIS Touch offers a secure, seamless, fast and more efficient way to apply for loans, keep track of premium remittances, loan and insurance payments, access membership and pension records, and enables them to manage their accounts through their mobile phones.

GSIS said members without an existing emergency loan can borrow up to P20,000, while those with existing balances can apply for up to P40,000. 

The emergency loan has an interest rate of 6% per annum and is payable in three years.

To qualify for the emergency loan, GSIS said members must be actively employed, not on leave without pay, with no pending administrative or legal cases, with payment of at least six months premiums, and with a net take-home pay of at least P5,000.  

On the other hand, pensioners must have a remaining net pension of at least 25% of their pension after loan amortization to qualify.

“If any member or pensioner requires assistance in using the GSIS Touch mobile app, its dedicated customer service is available 24/7 to help,” it said.

“Members may call the GSIS Contact Center at 8847-4747 (Metro Manila) or 1-800-8-847-4747 (Globe and TM subscribers) or 1-800-10-847-4747 (Smart, Sun, and TNT subscribers),” it added.

—VAL, GMA Integrated News