Guide on GSIS Pensioners Emergency Loan 2023 Application Process
GSIS PENSIONERS EMERGENCY LOAN 2023 – Here is a guide on how to apply for the loan offer of the Government Service Insurance System.
Are you one of the pensioners of the Government Service Insurance System (GSIS) or one of the person closest to you is? For the GSIS pensioners, the state-run social insurance institution has several offers apart from the monthly pension.
GSIS members who have maintained an active and updated account to the state-run social insurance institution may qualify to the GSIS Retirement Benefit and the loans offered by the government office. One of these loans is the GSIS Pensioners Emergency Loan which was designed to make sure that the pensioners have a loan that they can turn to when their place is hit by a calamity.
Truth be told that the impacts of a calamity like a typhoon and earthquake can range from not being felt at all to damages in structures and loss of lives. There were several instances in the past when floods destroyed homes and source of living.
During instances when an area is left under a State of Calamity, GSIS pensioners who are living in these areas may turn to the GSIS Pensioners Emergency Loan that offers a fixed amount that pensioners can borrow. The loan offer is open for pensioners who meet the following eligibility criteria:
- old-age pensioners under RA 660, PD 1146, or RA 8291
- have no outstanding service loans being amortized under the Choice of Loan Amortization Schedule for Pensioners (CLASP) at the time of filing
- living in the area declared under a state of calamity
Under the loan offer, a 6% interest rate per annum is implemented by the state-run social insurance agency. The loan is payable in 36 monthly installments and each due will be deducted from the monthly pensioner of the member-borrower.
How to apply for the GSIS Pensioners Emergency Loan? According to GSIS, loan applications can be personally done over-the-counter at any of the office of the state-run social insurance institution. Simply visit a branch office of the GSIS nearest to you and ask for a copy of the form. Bring a valid ID when applying for the loan offer.