THE Government Service Insurance System (GSIS) has set aside nearly P8.6 billion in emergency loans for members and pensioners in Luzon affected by typhoons.
The loans are expected to benefit 363,547 active members and old-age and disability pensioners in Luzon, the pension fund for civil servants said in a statement on Thursday.
Members in Isabela province have until Jan. 4 to apply for emergency loans.
Members in Ifugao and Nueva Vizcaya, and the towns of Burgos and Bautista, Pangasinan province, can apply until Jan. 5.
“The emergency loan window is also open in the provinces of Cagayan until Jan. 16; Albay on Jan. 23; Batangas, Camarines Norte, and Catanduanes, until Jan. 28,” the GSIS said.
Borrowers in Quezon (excluding Lucena City), Camarines Sur, and Laguna; Naga City; the municipalities of Juban, Bulan, Irosin, Barcelona, Donsol, Matnog, and Castilla in Sorsogon had a Jan. 30 application deadline.
Also allocated emergency loan funds was the municipality of San Fernando, Masbate, who were given until Jan. 30.
The GSIS also extended the deadline for calamity-affected members in Sorsogon City, Bacon, Casiguran, Bulusan, Magallanes, Santa Magdalena, Gubat, Prieto Diaz, and Pilar until Feb. 5.
Members in the municipality of Pio V. Corpuz in Masbate province can apply until Feb. 12, while those residing in Uson have until Feb. 21.
To apply for the emergency loan, members must be active and have no due and demandable loan, are not on unpaid leave, have paid premiums in the last six months prior to application, have no pending administrative or criminal cases, and enjoy monthly take-home pay of at least P5,000.
“Old-age and disability pensioners may also apply for a P20,000 emergency loan, provided they are residing in the calamity areas and their net basic monthly pension is at least 25% after loan deductions,” GSIS said.
The loans offer a 6% interest rate, no service fee, and a three-year repayment term. — Aaron Michael C. Sy