Guide on GSIS Pensioners Emergency Loan Offer for Qualified Members

GSIS PENSIONERS EMERGENCY LOAN 2023 – Here are the features of this loan offer of the Government Service Insurance System and the application.

There are two (2) state-run social insurance giants in the Philippines — the Social Security System, more popularly called the SSS, and the Government Service Insurance System or more popularly called GSIS. In this article, let us talk about an offer of the latter.

The Government Service Insurance System is the state-run social insurance institution for the employees of the government. Its multi-million member populace is mainly composed of pensioners and individuals who are in active service to the government.

The state-run social insurance agency offers GSIS Benefits 2023 as well as loans. It has loans that can be financial solutions in times of natural calamities.

Aside from the GSIS Pension Loan, another offer for the pensioners of the Government Service Insurance System is the GSIS Pensioners Emergency Loan. Pensioners may turn to the said loan offer when a natural disaster left their place under a State of Calamity.

Qualifications. There are some qualifications set by the Government Service Insurance System in applying for the loan offer. To be eligible for application, the member-borrower must meet the following criteria:

• an old age pensioner under the Republic Act No. 660, Presidential Decree No. 1146, or the Republic Act No. 8291
• has no outstanding service loans being amortized under the Choice of Loan Amortization Schedule for Pensioners (CLASP) at the time of filing
• resides in the area declared under a state of calamity

Loanable Amounts. Under the GSIS Pensioners Emergency Loan, a pensioner may borrow Php 20,000. It is payable in 36 monthly installments which will be deducted directly from the monthly pension of the borrower.

Interest. With regards to the interest rate implemented by the Government Service Insurance System under the loan offer, the state-run social insurance agency charges a 6% interest rate per annum.

How To Apply. To apply for the offer, submit your duly-accomplished loan application form at any branch of the Government Service Insurance System (GSIS) nearest to you.