Guide on GSIS Calamity Loan 2024 Offer Application Process
GSIS CALAMITY LOAN 2024 – You can check here the process on how to apply for the loan offer and eligibility requirements.
Are you one of the members of the Government Service Insurance System? More popularly called GSIS, it has millions of members from the different areas across the nation. These are former and current workers of the government.
A GSIS membership is mandated among the employees of the government. It widens the resources of the government employees with its offers. To qualify for the offers, a member must have an updated account.
To maintain an updated account with the government institution, a member must post monthly contribution. It is usually automatically deducted from the member-employee’s salary. The government institution has several GSIS Benefits 2023 and loan offers.
One of the loan offers of the Government Service Insurance System is the GSIS Calamity Loan. It was designed to help the GSIS members who are living in areas declared under a State of Calamity.
Through the GSIS Calamity Loan, the government institution aims to help its members in recovering from the impacts of the natural disaster.
Who are qualified to apply for the loan offer? The government institution has set a list of eligibility requirements in applying for the loan offer. Here are the qualifications set by the government institution:
- a bona fide resident or employee of the government office who lives or works within an area declared under a state of calamity by the Sangguniang Panlalawigan or Panlungsod and/or the National Disaster Reduction Risk Management Council
- 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)
How much you may borrow under the loan offer? The loanable amounts under the offer of the Government Service Insurance System depends if the member has an existing Emergency Loan or none. The first-time borrower may get Php 20,000 while a member with an existing Calamity Loan may get up to Php 40,000 but must pay-off the existing loan.
How much is the interest rate? According to GSIS, the interest rate is computed in advance at 6%. The loan can be repaid within three (3) years or 36 monthly installments since the releasing of the loan.
Apply for GSIS Calamity Loan. To apply for the loan offer, you may visit a GWAPS kiosks using the UMID card. You may also visit a branch of the state entity if you want an in-person application.