Guide on GSIS Pensioners Emergency Loan Offer Features & Application
GSIS PENSIONERS EMERGENCY LOAN – You can check here the calamity loan offer for the pensioners of the Government Service Insurance System.
A slice of the Filipino populace are retirees who are pensioners under the Government Service Insurance System. During their working years in the government, these individuals have prepared for their retirement years by submitting contributions to the state entity to maintain an updated account.
Aside from receiving a monthly pension, the pensioners are also entitled to special privileges and offers. The list includes the GSIS Pensioners Emergency Loan that the pensioners can turn to in times of natural calamities.
Natural disasters are among the events that cannot be totally predicted. One of the best ways to prepare for it is to be knowledgeable enough about the options that you may turn to when worse times occur.
Who are qualified to apply for the GSIS Pensioners Emergency Loan? Here are the qualifications set by the state-run social insurance institution for qualification to the loan offer:
- 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
With regards to the loanable amounts under the GSIS Pensioners Emergency Loan, a pensioner may borrow up to Php 20,000. The maximum loan term allowed by the state-run social insurance giant is 36 monthly amortizations.
According to GSIS, the loan due can be automatically deducted from the monthly pension of the borrower. The state-run social insurance institution implements a 6% interest rate per annum under the loan offer.
Aside from the GSIS Pensioners Emergency Loan, the Government Service Insurance System also offers a Pension Loan for the retirees and the pensioners of the state entity.
