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Government Service Insurance System office in Pasay City. Mark Demayo, ABS-CBN News

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Government Service Insurance System

Benise Balaoing

ABS-CBN News

<p>MANILA -- The Government Service Insurance System (GSIS) said emergency loans are available for severe tropical storm Kristine victims in areas under state of calamity.</p><p>GSIS said the program is already open to residents of Albay and Naga, and will be opened in other areas where the government will declare a state of calamity.</p><p>Members qualified for the loan are those who are actively employed and not on leave without pay. They must have a net take home pay of at least P5,000 and have paid premiums for at least 6 months.</p><p>Pensioners, meanwhile, must have a remaining net pension of at least 25 percent of their pension after loan amortization to qualify.</p><p>GSIS President and General Manager Wick Veloso encouraged members to apply through the GSIS Touch mobile app, which he said is a faster and more effiient way to apply for loans and track payments. </p><p>Members without an existing emergency loan can borrow up to P20,000, while those with existing balances can apply for up to P40,000. The loan has an interest rate of 6 percent per annum and is payable in three years.</p><p>The Social Security System (SSS) is also offering salary and pension loans amid the devastation caused by Kristine.</p><div><a href="https://news.abs-cbn.com/business/2024/10/24/amid-kristine-onslaught-sss-says-members-can-tap-salary-pension-loans-1219" rel="noopener noreferrer" target="_blank">Amid Kristine onslaught, SSS says members can tap salary, pension loans</a></div><p>More than 3.3 million Filipinos have been <a href="https://news.abs-cbn.com/news/2024/10/24/kristine-affects-3-3-million-filipinos-tens-of-thousands-still-in-shelters-dswd-724" rel="noopener noreferrer" target="_blank">affected</a> by the onslaught of severe tropical storm Kristine all over the country, with thousands still reeling from the effects of the storm, the Department of Social Welfare and Development said Friday.</p><div><strong>RELATED STORY:</strong></div><div><span class="fr-video fr-deletable fr-fvc fr-dvb fr-draggable" contenteditable="false" draggable="true"><iframe width="640" height="360" src="https://www.youtube.com/embed/mILXdKmrREc?&amp;ab_channel=ABS-CBNNewsautoplay=1&amp;wmode=opaque&amp;rel=0" frameBorder="0" allowfullscreen="" class="fr-draggable"></iframe></span> </div>

<p>The GSIS said emergency loans are available for Kristine victims in areas under state of calamity.</p>

The GSIS said emergency loans are available for Kristine victims in areas under state of calamity.

Emergency loans available for areas under state of calamity due to Kristine: GSIS

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Emergency loans available for areas under state of calamity due to Kristine: GSIS

Benise Balaoing,

ABS-CBN News

Published Oct 25, 2024 09:45 AM PHT

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