GSIS opens online application for National COVID-19 Emergency Lending Program
The Government Services Assurance System (GSIS) opened online applications Thursday (April 16) for its nationwide COVID-19 emergency loan program.
In a statement, GSIS said it has earmarked more than 30 billion pesos for the emergency loan program for members and retirees, who are suffering the financial consequences of the impact of COVID-19.
“This is the first time GSIS has offered a nationwide emergency loan,” said GSIS President and CEO Rolando L. Macasaet.
He said emergency loans had only been given in the past to disaster-stricken areas, usually a province or region.
The latest emergency lending program came after storm Yolanda hit parts of the Visayas, he said.
For the COVID-19 emergency, Macasaet said the maximum loan amount is P20,000 payable in three years and with 6% interest per annum.
Macasaet said the loan comes with insurance that considers the loan to be fully repaid if the borrower dies.
To apply, borrowers should email the following: Completed Emergency Loan Application Form downloadable from the GSIS website (https://www.gsis.gov.ph/downloadable-forms); photo or scanned copy of the borrower’s GSIS electronic card (eCard) or unified general purpose identification card (Umid), or two valid pieces of identification; and the borrower’s photo while holding the completed application form.
The email addresses to which application forms and requirements should be sent are: [email protected] (for borrowers in Metro Manila); [email protected] (North Luzon); [email protected] (South Luzon); [email protected] (Visayas); and [email protected] (Mindanao).
Macasaet said applications from members and retirees with Umid cards would also be accepted at GSIS Wireless Automated Processing System kiosks at GSIS branches and extension offices.
Government agencies like the Department of Education are also accepting applications and selected Robinsons or SM malls.
Loan release would be through the borrowers’ e-card or Umid card, Macasaet said.
“All GSIS members in good standing are qualified,” Macasaet said.
Exceptions are those on unpaid leave, with arrears of compulsory life insurance contributions and those with unpaid loans of up to six months.
Macasaet said borrowers should have a minimum of P5,000 in their take home pay after loan repayments have been deducted.
Elderly and disabled pensioners should have at least 25% of their basic monthly pension intact after loan repayment deductions.
“This is to ensure that there is still a considerable amount left over for the usual monthly expenses of retirees,” according to Macasaet.
In a separate notice on its website, GSIS said the extension of the COVID-19 lockdowns imposed on Luzon and other parts of the country meant that all of its branches and extension offices will also continue to be closed at the time. public until April 30. .
GSIS employees would continue to work from home.
Edited by the TSB
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