MANILA, Philippines — The Government Service Insurance System announced yesterday its online emergency loans are now available following Sen. Bong Go’s continuing appeals to the government to further help affected Filipinos given the extension of the enhanced community quarantine in Luzon and ongoing nationwide state of public health emergency due to the coronavirus disease (COVID-19) outbreak in the country.
In a radio interview, GSIS president and general manager Rolando Macasaet said members and pensioners nationwide will be able to take out a P20,000 loan, payable in three years at only six percent interest per annum. Monthly amortization is pegged at an affordable amount of P655 only.
“This is a significant assistance provided by the GSIS to members and pensioners,” said Go, a member of the Joint Congressional Committee overseeing implementation of the Bayanihan to Heal as One Act.
GSIS also made the application process easier for members and pensioners by allowing online loan applications. Macasaet said one can apply for the loan online and submit required documents and identification.
Active members and pensioners with UMID cards can also immediately apply for a loan through their GSIS Wireless Automated Processing System (GWAPS) kiosks located in all GSIS branches and extension offices; government offices, such as provincial capitols, city halls and select municipal offices; large government agencies, such as the Department of Education; and several private partners, such as SM Malls and Rustan’s.
“According to GSIS president Macasaet, this is a first for applications for emergency loans. I fully support their action to help affected Filipinos,” Go said.
In addition, all GSIS members of good standing are also qualified to avail themselves of the COVID-19 Emergency Loan with some exceptions, such as those who are on leave without pay, among others. Old-age and disability pensioners can also apply for the loan subject to some conditions.