GSIS members affected by Odette can benefit from emergency loans

GSIS members affected by Odette can benefit from emergency loans (file photo)

MEMBERS and retirees of the Government Services Insurance System (GSIS) affected by Typhoon Odette (Rai) are now eligible for emergency loans.

GSIS President and CEO Rolando Ledesma announced that the pension fund is now providing emergency loans in six regions of the country hard hit by the typhoon, the agency said in its January 14, 2022 press release. .

Members residing in Mimaropa, Western Visayas, Central Visayas, Eastern Visayas, Northern Mindanao and Caraga regions with existing emergency loans can borrow up to P40,000 to pay off their previous emergency loan balance, but they will always receive a maximum net amount of P20,000.

Those without an existing emergency loan can apply for P20,000.

The loan is repayable in 36 monthly installments equal to 6% interest.

According to GSIS, members who are on active duty and not on leave without pay are qualified to apply.

The member must also have no pending administrative or criminal cases and have a net net salary of not less than P5,000.

Meanwhile, pensioners and disabled people can apply for the loan if their resulting net monthly pension after using the loan is at least 25% of their basic monthly pension.

Members can submit their applications through the agency’s web system, by email, or through drop boxes located in the lobbies of the GSIS offices.

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