The Government Service Insurance System (GSIS) has made nearly P8.6 billion available for emergency loans to over 360,000 active members and old-age and disability pensioners in Luzon affected by recent typhoons.
The Government Service Insurance System ( GSIS ) has allocated nearly P8.6 billion for emergency loans , which will be made available to over 360,000 active members, and old-age and disability pensioners in Luzon hit by recent typhoons.Under the facility, qualified members without existing emergency loans can apply for up to P20,000. Those with existing emergency loans can borrow up to P40,000 to pay off their previous balance, and enable them to receive a maximum net of P20,000.
Old-age and disability pensioners can also apply for a P20,000-emergency loan, provided that they are residents of calamity-hit areas, and that their net basic monthly pension is at least 25% after loan deductions.The loan will have a 6% interest rate, with a three-year payment period. It will be covered by a redemption insurance, which ensures that the balance will be deemed fully paid in the event of the borrower's death provided that payments are up-to-date.Eligible applicants are active members who are working or residing in calamity-declared areas, have no due and demandable loan, are not on unpaid leave, have paid premiums in the last six months prior, have no pending administrative or criminal cases, and have a net monthly take-home pay of at least P5,000.The deadline for application will be on January 5 for those in Ifugao; Nueva Vizcaya; and Burgos, and Bautista in Pangasinan.Those in Quezon (excluding Lucena City); Camarines Sur; Laguna; Naga City; Juban, Bulan, Irosin, Barcelona, Donsol, Matnog, and Castilla in Sorsogon; and San Fernando, Masbate have until January 30 to apply.Applications in Sorsogon City, Bacon, Casiguran, Bulusan, Magallanes, Santa Magdalena, Gubat, Prieto Diaz, and Pilar in Sorsogon will be accepted until February 3.In Masbate, the deadline for those in the Pio V. Corpuz has been set for February 12, while those in Uson have until February 21 to submit applications. — VDV, GMA Integrated New
GSIS Emergency Loans Typhoons Luzon Disaster Relief
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
GSIS allocates P514 M for 23K pensioners in typhoon-hit LuzonTHE Government Service Insurance System (GSIS) has allocated more than P514 million for its emergency loan program to benefit 23,469 active members and old-age/disability pensioners residing or working in the provinces of Quirino, Apayao and Aurora and in Santiago City and Cabagan town in Isabela.
Read more »
GSIS allots P514m for members, pensioners in typhoon-hit LuzonThe Government Service Insurance System (GSIS) said it allocated more than P514 million for its emergency loan program to benefit 23,469 active members
Read more »
GSIS earmarks over P514M for emergency loan of members, pensioners in storm-hit Luzon areasLatest Philippine news from GMA News and 24 Oras. News, weather updates and livestreaming on Philippine politics, regions, showbiz, lifestyle, science and tech.
Read more »
COA Orders GSIS to Refund P6.98 Billion in Illegal Pay HikesThe Commission on Audit (COA) has mandated the Government Service Insurance System (GSIS) to refund illegal pay increases, amounting to P6.98 billion, over a 12-year period from 1988 to 2010. The pay increases were implemented without presidential approval.
Read more »
Japan Allocates JPY 1.6 Billion for Philippine Security AssistanceJapan has provided a JPY 1.6 billion security assistance grant to the Philippines to enhance its maritime and aerial security capabilities. The grant supports the Philippine Navy and Air Force, aimed at improving domain awareness and defense against threats in the Indo-Pacific region.
Read more »
World Bank Raises $24 Billion for Poor Nations, Pledged for $100 Billion in AidThe World Bank has announced it has raised close to $24 billion to provide loans and grants to some of the world's poorest nations, leveraging the funds to generate a record $100 billion in total spending power.
Read more »