The Government Service Insurance System (GSIS) has allocated nearly P8.6 billion in emergency loans to assist 363,547 active members and old-age and disability pensioners who have been impacted by recent typhoons.
The financial aid aims to support individuals in calamity-declared areas across various provinces in the Philippines.
The loan application deadlines vary depending on the region. In Isabela, the deadline is January 4, 2025, while applications in Ifugao, Nueva Vizcaya, and the towns of Burgos and Bautista in Pangasinan are due by January 5, 2025. Members in Cagayan can apply until January 16, and those in Albay have until January 23.
In Batangas, Camarines Norte, and Catanduanes, the deadline is set for January 28, 2025. For members in Quezon (excluding Lucena City), Camarines Sur, Laguna, Naga City, and select towns in Sorsogon and Masbate, the deadline is January 30.
The deadline for the extended areas in Sorsogon is February 5, 2025, and for the municipalities of Pio V. Corpuz and Uson in Masbate, the deadlines are February 12 and February 21, 2025, respectively.
To qualify for the emergency loan, members must meet specific requirements. They must be working or residing in the designated calamity areas, have no overdue loans or unpaid leave, have paid premiums for the past six months before applying, have no pending administrative or criminal cases, and maintain a net monthly take-home pay of at least P5,000 after deductions.
Eligible members who already have an existing emergency loan can borrow up to P40,000, which will be used to pay off their previous loan balance, allowing them to receive a net amount of up to P20,000. Members without an existing emergency loan may apply for the full P20,000.
Old-age and disability pensioners who meet the requirement of a net basic monthly pension of at least 25% after loan deductions are also eligible for the P20,000 loan.
The loan carries a 6% interest rate, with no service fee, and a repayment period of three years. Additionally, the loan includes a redemption insurance that ensures the loan balance will be fully paid in the event of the borrower’s death, as long as payments are up-to-date.
