GSIS offers nearly P8B emergency loans for calamity-hit members

MANILA, Philippines — The Government Service Insurance System (GSIS) is offering nearly P8 billion in emergency loans available to more than 317,000 members and pensioners affected by flooding and other damage from recent typhoons and the enhanced southwest monsoon.

According to a GSIS statement issued on Friday, a total of 317,721 active members and old-age and disability pensioners in 16 areas in Luzon and Mindanao may avail themselves of an emergency loan of up to P40,000.

The affected areas were placed under a state of calamity following flooding, property damage, and other disruptions caused by Typhoons Luis, Maymay, and Neneng and the enhanced southwest monsoon.

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Qualified active members and old-age and disability pensioners may borrow up to P20,000, while those with an existing emergency loan may borrow up to P40,000, with the outstanding balance deducted from the proceeds.

The loans carry a 6-percent interest rate computed in advance and are payable over 36 months. Monthly amortization is P655.56 for a P20,000 loan and P1,311.11 for a loan of up to P40,000.

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Application deadlines vary by area:

• Hagonoy, Bulacan, and Masinloc, Zambales: Sept. 20
• Other parts of Bulacan, Bataan, Zambales, and La Trinidad in Benguet: Sept. 26
• Nasugbu, Batangas, and Paluan, Occidental Mindoro: Sept. 27
• Other towns in Benguet, except Baguio City and La Trinidad, as well as Tarlac and Pangasinan, excluding Dagupan City, Mangaldan, and Santa Barbara: Oct. 2
• Imelda, Zamboanga Sibugay: Oct. 3
• Occidental Mindoro: Oct. 7
• Olongapo City, Zambales: Oct. 9.
• Cavite: Nov. 12
• Rodriguez, Rizal: Nov. 16