State-run Government Service Insurance System (GSIS) is willing to grant emergency loan for its more than 345,000 members in Visayas and Mindanao who were adversely affected by typhoon Pablo.
In a statement, the pension fund for state workers said the emergency loan will be made available to GSIS members living or working in Misamis Oriental, Bukidnon, Lanao del Sur, Lanao del Norte, Misamis Occidental and Zamboanga del Norte.
The GSIS has also included those members residing or working in Camiguin, Surigao del Norte, Siargao, Surigao del Sur, Dinagat Province, Agusan del Norte, Agusan del Sur, Davao del Norte, Samal Island, Compostela Valley.
GSIS member in Davao Oriental, North Cotabato, Zamboanga del Sur, Zamboanga Sibugay, Maguindanao, Bohol, Siquijor, Southern Cebu, Southern Negros Oriental, Southern Negros Occidental, Southern Leyte, Antique, and Iloilo, Camotes Island can also apply for the emergency loan.
Under the GSIS emergency loan program, each eligible member may borrow Php20,000, payable in three years in equal monthly installment. The initial payment for the loan will start three months after the loan drawdown.
Eligible members who may file for emergency loan include bona fide employees of the agency located in the declared calamity area or are resident of the declared calamity area; in active service and not on leave of absence without pay; have no pending criminal or administrative charges; have no arrears in the payment of mandatory social insurance contributions; and have no loan that has been declared in default.
Members may apply for the loan from December 7, 2012 to January 5, 2013, through the GWAPS kiosk using either the eCard or UMID eCard. Those with temporary eCards may apply over-the-counter in any GSIS office.
Meanwhile, members who have existing emergency loans may be allowed to renew their emergency loan after payment of 12 monthly repayments but not later than the anniversary date of the previous loan.
In August, the GSIS gave a supplemental budget of P10 billion for the loan program.