GSIS Online Emergency Loans - GSIS Members May Now Apply For It

GSIS Offers GSIS Online Emergency Loans To Members Amid COVID-19 Crisis

GSIS ONLINE EMERGENCY LOANS – The members of the Government Service Insurance System may now apply for the loans online.

Currently, a lot of people are financially suffering and in need of some cash assistance amid the COVID-19 outbreak in the Philippines. The said disease urged the national government to put the entire Luzon under an Enhanced Community Quarantine (ECQ).

Also, several provinces in Visayas and Mindanao are implementing the ECQ. The schools suspended the classes so students can stay at their homes. Several businesses also temporarily suspended their operations.

The authorities are advising the people to stay at home amid the coronavirus outbreak in the Philippines. It is in line with the pursuit to stop the spread of infection as the said disease has an asymptomatic case.

A lot of people lost their income most especially those working in companies imposing the no-work-no-pay system. The government has provided some cash assistance to the poorest of the poor but there are still people who are in need of financial help.

In line with helping the public. the Government Service Insurance System is offering the GSIS Online Emergency Loans. Based on a report on Inquirer, it is now available. GSIS President and General Manager Rolando Macasaet said the application and requirements may be done online.

The members and pensioners of GSIS may borrow up to Php 20,000.00. Based on the report, the social insurance institution will implement a 6% interest rate per annum.

The member may pay for the loan for three (3) years. Reportedly, the monthly amortization is fixed at Php 655.00 only.