GSIS offers P1.69 billion in emergency loans for water crisis, dengue victims in Bicol provinces

MANILA — The Government Service Insurance System (GSIS) said it is allocating P1.69 billion for emergency loans for victims of the dengue outbreak and water crisis in provinces in Bicol.

In a statement, the GSIS noted an uptick in dengue cases and related deaths in Albay and Naga, and a water crisis in Camarines Norte.

The GSIS said eligible members and pensioners can apply for the loan through the GSIS Touch mobile app. The deadline for applications is on October 24 in Naga; October 27 in Camarines Norte; and October 28 in Naga.

GSIS said eligible members and pensioners without existing emergency loans can borrow up to P20,000. The loan has an interest rate of 6 percent per year and is payable over three years.

Members and pensioners with existing emergency loans may borrow up to P40,000. Part of the loan will be used to settle their outstanding loan balance, and the remaining amount will be released to the borrower.

Old-age and disability pensioners may also apply, provided their resulting net monthly pension after loan deduction is at least 25 percent of their basic monthly pension.

To qualify for the loan, members must live or work in a declared calamity area, be in active service and not on leave of absence without pay, have no pending administrative or criminal case, have paid premiums within the last six months before application, and maintain a net take-home pay of at least P5,000 after loan deductions.