GSIS grants emergency loans to members in flood-hit areas of Mindanao

Manila, Philippines – The Government Service Insurance System (GSIS) is extending emergency loan assistance to eligible members residing in flood-hit areas in Mindanao and in some provinces in the north.

These are Davao City; Pikit, North Cotabato; Cotabato City; Province of Maguindanao; Province of Pampanga; Pulilan, Malolos, Calumpit, Hagonoy, Meycauayan, and Obando in Bulacan in light of the recent flash floods that hit the said areas.

In a statement sent over the weekend, GSIS said members can apply for the emergency loan until Aug. 15, 2011 via the GSIS kiosks using their eCard.

Applicants who still do not have the card but need to avail of emergency loans may do so via over-the-counter.

“Members who do not have an eCard but who are eligible to apply for the loan can apply via over-the-counter (OTC). We are deploying more GSIS kiosks in our offices and other access points such as provincial capitols and city halls to expedite the availment of the loan. We’re also extending our office hours as necessary,” Robert Vergara, president and general manager said in a statement.

Proceeds of emergency loan applications filed via over-the-counter will be credited to a temporary eCard which the GSIS will issue before the end of the month.

Under the emergency loan program, eligible members in affected areas can borrow up to P20,000 payable in three years in equal monthly installment.

Furthermore, the GSIS said that member-borrowers with outstanding emergency loans shall be allowed to renew the loan if the borrower has paid at least 12 monthly installments but not earlier than the anniversary date of the previous loan.

However, the GSIS reiterated that member-applicant must not also be suspended because of non-payment and non-remittance of premiums and loan repayments. –Iris C. Gonzales (The Philippine Star)