The members and pensioners of the state pension fund Government Service Insurance System (GSIS) could now avail of the COVID-19 emergency loan program online.
GSIS president and general manager Rolando Ledesma Macasaet made the announcement through a press statement posted on the GSIS website.
In the aftermath of Typhoon Yolanda, GSIS disbursed a total of ₱5.2 billion in loans to members and pensioners in 2013, he said. To ensure that borrowers would still have adequate take home pay after availing of the loan, borrowers should have a minimum take-home pay of P5,000, after the monthly premium contributions and loan amortizations has been deducted from their salary.
This would ensure that a considerable amount would be left for the pensioners’ usual monthly expenses.The loan would be covered by an insurance, so it would be deemed fully paid in case of the borrower’s demise., Macasaet said.• Duly-accomplished Emergency Loan application form which is downloadable from the GSIS website ;
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