Guide on GSIS Emergency Loan Features & Application
GSIS EMERGENCY LOAN – The Government Service Insurance System offers this calamity loan for members living in areas struck by a natural disaster.
There is a huge advantage in maintaining a qualification to offers that you can turn to in times of calamities. Truth be told that many people did not realize this until a typhoon, an earthquake, or another natural disaster has taken away their homes, source of livings, or worst, the lives of their loved ones.
In the Philippines, one of the state entities that offer a calamity loan is the Government Service Insurance System. More popularly called GSIS, it is a state-run social insurance giant that has millions of members across the nation.
A GSIS membership is required among the employees of the government thus its members are former and current employees of the government. In the case of the latter, the monthly contribution is usually done through an automatic payroll deduction.
One of the loans offered by the Government Service Insurance System that is exclusive for its members if the GSIS Emergency Loan, a calamity loan offer.It is a ready help for members in times of earthquakes, floods, volcanic eruptions, and other natural calamities.
Who are qualified to apply for the GSIS Emergency Loan offer? The loan is open for members who reside or work in a calamity-declared area, in active service and not on leave of absence without pay, have no arrears in the payment of mandatory social insurance contributions, and have no in-default loan (unpaid for more than 6 months).
How much you may borrow under the loan offer? The loanable amount depends if the member-borrower has an existing loan or none. If there is no existing loan, the loanable amount is Php 20,000. If there is, the loanable amount is the difference between Php 40,000 and the balance of the existing loan.
The loan is payable for up to three (3) years or 36 monthly installments. You may apply for it at a GWAPS kiosk using your eCard or your UMID card account.
Aside from the Emergency Loan offer for the regular GSIS members, there is also an Emergency Loan offer for the pensioners.
