GSIS earmarks P22M for flood-hit members, pensioners in Agusan del Sur
THE GOVERNMENT Service Insurance System (GSIS) has set aside more than P22 million in emergency loan for flood and prolonged rain-affected members and old-age and disability pensioners in La Paz, Agusan del Sur.
“Active members working or residing in the area are eligible to apply if they have no due and demandable GSIS loan, are not on unpaid leave, have paid premiums in the last six months before applying, have no pending administrative or criminal case, and have a net monthly take-home pay of at least P5,000,” the state pension fund said in a statement on Thursday.
It said qualified members and pensioners have until June 15 to apply for a loan. Proceeds will be electronically credited to the borrower’s eCard or Unified Multi-Purpose ID (UMID) card.
Under the facility, qualified members who have an existing emergency loan may borrow up to P40,000 to pay off their previous emergency loan balance and enable them to receive a maximum net amount of P20,000.
Meanwhile, those without an existing emergency loan balance may apply for a P20,000 loan.
“Pensioners may also apply, provided they are residing in La Paz and their net basic monthly pension is at least 25%,” GSIS said.
The loan carries an interest rate of 6% and is payable in 36 equal monthly installments.
“It is covered by a loan redemption insurance, which deems the loan fully paid, in case of the borrower’s demise, provided the loan payment is up to date.” — Aaron Michael C. Sy
