GSIS CALAMITY LOAN 2023 – You can check the details below for a guide on how to apply for the calamity loan offer of the Government Service Insurance System.
In times of natural calamities, a lot of members of the Government Service Insurance System, more popularly called GSIS, may turn to the state-run social insurance agency. It has designed a Calamity Loan offer to financially assist the members in their recovery.
GSIS Enhanced Emergency Loan 2023 Features & Application Process
Guide on GSIS Enhanced Emergency Loan 2023 Offer for Qualified Members
GSIS ENHANCED EMERGENCY LOAN 2023 – Here are the features of this loan offer of the Government Service Insurance System and the application.
One of the giant social insurance institutions in the Philippines is the GSIS or the Government Service Insurance System. It has millions of members across the nation. The government employment in the country requires an active membership to the GSIS.
Every month, the GSIS monthly contribution of members who are still in the government workforce are deducted directly from their payroll. Voluntary members and those who transferred to the private sector or ran their own businesses submit the contribution personally.
An active and updated account may qualify a member to the offers of the Government Service Insurance System. These includes GSIS Benefits 2023 as well as loan offers.
In times of natural disasters, a lot of members of the Government Service Insurance System may qualify to the Enhanced Emergency Loan offer of the state-run social insurance agency. It is open for members who are residing or working in areas declared under a State of Calamity.
The said loan offer of GSIS aims to financially assist members in recovering from the impacts of a natural disaster.
Qualifications. The GSIS has set a list of qualifications in applying for its Enhanced Emergency Loan offer. To qualify, the member-borrower must meet the following eligibility requirements:
- resides or works in a calamity-declared area
- are in active service and not on leave of absence without pay
- have no arrears in the payment of mandatory social insurance contributions
- have no in-default loan (unpaid for more than 6 months)
Loanable Amounts. With regards to the loanable amounts under the offer, member-borrowers who have no existing Emergency Loan account may borrow up to Php 20,000. Those members who have existing Emergency Loan account may borrow Php 40,000.
The balance of the existing loan will be deducted from the loan proceeds of the new loan account. The money will be credited to the eCard or UMID card account.
Interest. The interest rate under the loan offer is computed in advance. It is at 6%. The loan is payable within three (3) years or 36 monthly installments since the loan release.
How To Apply. In applying for the GSIS Enhanced Emergency Loan offer, it can be done either through the GWAPS kiosks using the UMID card or over-the-counter at any branch of the GSIS using the Emergency Loan Application Form.