Emergency loans available for areas under state of calamity due to Kristine: GSIS | ABS-CBN

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Emergency loans available for areas under state of calamity due to Kristine: GSIS

Emergency loans available for areas under state of calamity due to Kristine: GSIS

Benise Balaoing,

ABS-CBN News

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MANILA -- The Government Service Insurance System (GSIS) said emergency loans are available for severe tropical storm Kristine victims in areas under state of calamity.

GSIS said the program is already open to residents of Albay and Naga, and will be opened in other areas where the government will declare a state of calamity.

Members qualified for the loan are those who are actively employed and not on leave without pay. They must have a net take home pay of at least P5,000 and have paid premiums for at least 6 months.

Pensioners, meanwhile, must have a remaining net pension of at least 25 percent of their pension after loan amortization to qualify.

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GSIS President and General Manager Wick Veloso encouraged members to apply through the GSIS Touch mobile app, which he said is a faster and more effiient way to apply for loans and track payments. 

Members without an existing emergency loan can borrow up to P20,000, while those with existing balances can apply for up to P40,000. The loan has an interest rate of 6 percent per annum and is payable in three years.

The Social Security System (SSS) is also offering salary and pension loans amid the devastation caused by Kristine.

More than 3.3 million Filipinos have been affected by the onslaught of severe tropical storm Kristine all over the country, with thousands still reeling from the effects of the storm, the Department of Social Welfare and Development said Friday.

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