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STATE-RUN Government Service Insurance System (GSIS) has approved
the grant of emergency loans to members in areas heavily hit by
recent typhoons.
In a statement, the pension fund said it will
make available an emergency loan of P20,000 to eligible members
working in government offices located in emergency-declared areas of
Samar, Pangasinan, La Union, Iloilo, Antique, Capiz, Aklan, and the
city of Baguio.
The loan bears an interest rate of 8 percent per
annum and payable in equal monthly installments for a term of three
years. The monthly amortization, amounting to P688.89, will be
deducted from the salaries of the borrowing members starting on the
fourth month after availment of the loan.
“The emergency loan can be availed of using
the GSIS Wireless Automated Processing System kiosk or G-W@PS kiosk
anywhere in the country or via over-the-counter (OTC) application to
be filed in GSIS offices located in the calamity declared areas,”
the pension fund said.
To apply for the emergency loan via OTC,
eligible members have to accomplish an application form. A tentative
computation of their loan proceeds and monthly amortization will
also be shown to the member-applicants when they apply via G-W@PS
kiosk or OTC.
Qualified members have until August 4 this year
to submit their application for the emergency loan.
“The Emergency Loan Program is in response to
the call of President Arroyo to provide the much-needed helping hand
to those who were adversely affected by the recent typhoons,”
Winston Garcia, GSIS president and general manager said.
To qualify for the emergency loan, the
member-applicant must be a bona fide employee of the government
office within the declared calamity area, in active service and not
on leave of absence without pay, has no pending criminal or
administrative charges, has no arrearages in the payment of
mandatory social insurance contributions, and has no loan that has
been declared in default.
-- Chino S. Leyco
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