THE GOVERNMENT Service Insurance System (GSIS) has allocated P18.5 billion for emergency loans to members and pensioners affected by Typhoon Carina and the southwest monsoon.
The loans will assist 864,089 members and pensioners from Batangas, Rizal, and the National Capital Region, which were placed under state of calamity, it said in a statement on Thursday.
“Members and pensioners with existing emergency loan balances may borrow up to P40,000 to enable them to clear their previous loans and receive a maximum net amount of P20,000,” the GSIS said.
“Those without existing loans may apply for up to P20,000. The loan features a low interest rate of 6% per annum and a repayment period of three years.”
Eligible members may avail of the loan from July 26 to Oct. 28.
Applications for the loan may be done via the GSIS mobile app or at GSIS kiosks located at its branches, Department of Education offices, city halls, and select malls.
SSSSeparately, the Social Security System (SSS) said it will also provide calamity loans to disaster-hit members.
“Members in typhoon-stricken areas can borrow a loan equivalent to their one monthly salary credit or up to a maximum of P20,000,” SSS President and Chief Executive Officer Rolando Ledesma Macasaet said in a separate statement late on Wednesday.
The loan may be paid in two years or 24 equal monthly installments with an annual interest rate of 10%.
Members can apply for the loan through the SSS website, it said. — L.M.J.C. Jocson
