GSIS opens emergency loans

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The Government Service Insurance System (GSIS) yesterday said the pension fund will open its emergency loan program to assist members and pensioners affected by severe tropical storm Florita.

GSIS members who have existing emergency loan balance may borrow up to P40,000 to pay off their previous emergency loan balance and still receive a maximum net amount of P20,000. Those without existing emergency loan may apply for P20,000. Pensioners may likewise apply for a P20,000 loan.

Active members residing or working in affected areas as well as old-age and disability pensioners based in the same areas may apply for the loan after the areas have been declared under a state of calamity.

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Qualified to apply are members who are in active service and not on leave of absence without pay, have at least three months of paid premiums within the last six months, have no pending administrative or criminal case, and have a net take-home pay of not lower than P5,000 after all required monthly obligations have been deducted.

“Aside from emergency loan, our members may avail of the Multi-purpose Loan Plus, which has a loan ceiling of up to P5 million. Pensioners, on the other hand, may borrow up to six-months’ worth of their pension under our enhanced Pension Loan program or up to P500,000,” said Wick Veloso, GSIS president and general manager.

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