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Friday, May 22, 2015

GSIS accepts emergency loan application till May 27

By Jocelyn P. Alvarez

ZAMBOANGA CITY The Government Service Insurance System (GSIS) –Zamboanga Office is  accepting applications for Emergency Loan until May 27.

Active GSIS members working or residing here and old-age pensioners who wish to avail of this loan and take advantage of this offer have only until next week to apply.

It can be recalled, the Sangguniang Panlungsod of Zamboanga in April passed a resolution declaring the city under a state of calamity citing the adverse effects of severe dry spell brought about by the El Niño phenomenon.

GSIS-Zamboanga has set aside P512 million  intended for emergency loan of its close to 18,000 active members and old-age pensioners.

Loanable amount depends on the status of the member, meaning, active members who have no existing emergency loans may borrow P20,000 while those who have emergency loan balance may apply for P40,000. The loanable amount for pensioners is P20,000.

The loan is payable in 36 monthly installments or three years at 6 percent interest rate per annum.

Those who wish to avail the emergency loan may apply through the GSIS Wireless Automated Processing System (GWAPS) kiosks while old-age pensioners must file their application over the counter.

Loan proceeds are electronically credited to the borrower's GSIS eCard or unified multipurpose identification (UMID) card within 72 hours after their authorized agency officers’ (AAOs) confirmation.