The Government Service Insurance System (GSIS) is ready to extend emergency loans to members and pensioners affected by Tropical Storm Maymay and the enhanced Southwest Monsoon (Habagat) once their areas are officially declared under a state of calamity.
Eligible members and pensioners with existing emergency loans may borrow up to P40,000 to first settle their outstanding balance, with the remaining funds released directly to them. Those without existing emergency loan balances may apply for up to P20,000.
To qualify, active members must reside or work in a declared calamity area, be in active service, not be on leave without pay, have no pending administrative or criminal cases and have paid premiums within the six months prior to applying. Under the General Appropriations Act, applicants must also maintain a net take-home pay of at least P5,000 after loan deductions.
Old-age and disability pensioners in declared calamity areas are likewise eligible, provided their net monthly pension after loan deductions remains at least 25 percent of their basic monthly pension.
The GSIS Emergency Loan features a six percent annual interest rate payable over three years. Eligible borrowers may submit their applications through the GSIS Touch mobile app on the Google Play Store and Apple App Store.