THE GOVERNMENT Service Insurance System (GSIS) has earmarked P6 billion in emergency loans for members and pensioners affected by Mount Kanlaon’s eruption, El Niño and Typhoon Aghon, it said in a statement on Tuesday.
A total of 231,250 calamity victims will benefit from the program, the state pension fund said.
Members in Bohol, Capiz and Kalibo may apply for the loan until July 4; until July 6 for those in Cabanatuan City, Aborlan, El Nido in Palawan and Quezon Province’s first and second districts; until July 9 for San Andres in Romblon; and until July 19 for San Lorenzo, Sibunag in Guimaras, San Carlos City, San Enrique and La Castellana in Negros Occidental.
Under the loan program, members with existing loans may borrow as much as P40,000, while those with no existing loans may borrow up to P20,000.
The loan is payable in three years through 36 equal monthly installments. It carries a 6% yearly interest rate. — Aaron Michael C. Sy
