The Government Service Insurance System (GSIS) offers an emergency loan to members and pensioners affected by the dengue outbreak in Eastern Visayas.
GSIS alloted Php 1.5 billion for the emergency loan program that the state-run pension fund said will benefit 34,739 members and pensioners.
"The emergency loan program intends to provide immediate financial assistance to Samar and Leyte (Ormoc City, Maasin City, and Municipality of Kananga) who may be faced with unexpected medical expenses, loss of income due to illness, among others," GSIS said on Friday, September 20, in a news release.
GSIS said that active members, in order to qualify for the emergency loan, must reside or work in declared calamity areas due to increasing dengue cases, not on leave without pay, have no pending administrative or legal cases, no due and demandable loan, and made at least six monthly premium payments prior to applying.
Members must also have a net take-home pay must not be less than Php 5,000 as stipulated by the General Appropriations Act.
Meanwhile, old-age and disability pensioners must have at least 25 percent remaining from their pension after deductions for loan amortization.
GSIS said that members and pensioners with an existing emergency loan balance may borrow up to Php 40,000 to settle their previous loans, with a maximum net amount of Php 20,000, while those without any existing balances can apply for a Php 20,000 loan.
The fund said that the emergency loan has an interest rate of six percent per annum, and a repayment period of three years.
