The Government Service Insurance System (GSIS) has allocated more than P1.8 billion in emergency loans to support 72,846 active members and pensioners in Negros Occidental, following the eruption of Mount Kanlaon.
Applications are open until January 21, 2025.
Active members residing or working in areas declared under a state of calamity due to the eruption are eligible for the loan, provided they have updated premium payments within the past six months, no overdue loans for more than six months, and a minimum take-home pay of P5,000 after deductions. Members on leave without pay or with pending administrative or criminal cases are ineligible.
Old-age and disability pensioners residing in the affected areas can also apply, as long as their net monthly pension remains at least 25% after loan deductions.
Eligible members with no existing emergency loan can borrow up to P20,000, while those with an outstanding loan can apply for up to P40,000, with the remaining balance deducted from the new loan.
The loan carries a 6% annual interest rate and is repayable over three years. It includes redemption insurance, which clears the borrower’s remaining balance in the event of death, provided payments are up to date.
Loan proceeds will be credited directly to the borrower’s eCard or UMID card.
