PHP5-Billion GSIS Emergency Loan Fund for Agaton Victims
After Yolanda struck a devastating blow to Visayas and Mindanao last November, both private and government sectors have implemented measures to alleviate the effects of the tropical storm, as well as to ensure preparedness for natural disasters that might hit the country in the future. For instance, the government calamity fund was raised to P13 billion this year.
In line with these efforts, the Government Service Insurance System (GSIS) is extending emergency loans to members, especially those who were affected by tropical depression Agaton, the first storm to hit the country this year. A budget of PHP 5 billion is allocated for this initiative.
As of January 25, the National Disaster Risk Reduction and Management reports a total of 64 people killed, 85 injured, and 10 others missing. Over 1.14 million people from over a thousand barangays in Visayas and Mindanao were affected.
GSIS announced that it will provide emergency loans to 48,000 eligible members who were victims of the tropical depression, particularly those from provinces in northeastern Mindanao like Agusan Del Norte (including Butuan City), Agusan Del Sur, Lanao Del Norte (including Iligan City), and Surigao Del Norte. The municipalities of Asuncion, Carmen, Kalong, New Corella, and Tagum City in Davao Del Norte are also included.
How to Apply?
The application period for GSIS emergency loans has been ongoing since January 24, and will be open until February 22. Those who wish to apply may do so in any GSIS branch or through the GSIS Wireless Automated System (GWAP). They may also apply in GWAP kiosks, portable booths or stands that will be set up in specific areas to make it more convenient for affected members to file their loan applications. GWP kiosks can be found in city halls, provincial capitols, large agencies, and a few municipal offices.
How to Qualify for an Emergency Loan?
There are only two requirements to qualify for an emergency loan wth GSIS:
- Member is not on leave of absence without pay
- Member has no amounts withstanding in his/her monthly contributions
Qualified members who do not hold an eCard can apply over the counter at any GSIS office or GWAP kiosk. Once the loan is approved, the borrower will be given a temporary eCard to where the funds will be credited. Funds may take up to 7 business days to reflect in the member’s account. If it takes longer, the member can visit the nearest GSIS office to ask about the status of their loan.
Mandated to administer and provide social security benefits and concerns, GSIS has been aiding government employees in terms of life insurance and several other benefits since 1936. Members are entitled to loan privileges such as emergency, housing, policy, and salary loans. With monthly premium contributions, members are insured against unexpected emergencies or crises.
Listed below are the social security benefits offered by GSIS:
- Compulsory life insurance
- Optional life insurance
- Retirement benefits
- Disability benefits for work-related contingences
- Death benefits
For more information and other inquiries about the emergency loan program, you may call the GSIS center at 847-4747 or visit their website.
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