Members of the Government Service Insurance System (GSIS) in Laguna province, especially in areas affected by tropical storm "Enteng," can now avail of emergency loans, the state insurer announced.
In a recent advisory, GSIS said it has earmarked P158 million in emergency loans for its 5,777 active members and pensioners residing or working in four calamity-hit areas in Mindanao and Laguna.
This, was after the town of Famy declared a "state of calamity" due to the effects of "Enteng" which battered Luzon last September.
"Members and pensioners with existing emergency loan balances may borrow up to P40,000 to enable them to pay their previous loans and receive a maximum net amount of P20,000. Those without existing emergency loans may apply for P20,000. The loan features a low interest rate of 6 percent per annum and a payment period of three years," GSIS.
To qualify for the emergency loan, GSIS said active members must not be on unpaid leave, have no pending administrative or legal cases, have no due and demandable loan, and have made at least six months premium payments before applying.
The state workers’ pension fund said net take-home pay should not be less than P5,000 as stipulated by the General Appropriations Act.
For eligible old-age and disability pensioners, GSIS requires that they have a net monthly pension of at least 25 percent after deducting the loan amortization.
The GSIS said the application deadline in Famy, Laguna is on December 15, 2024.
(With report from ABS CBN/OpinYon News Team)
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