GOVERNMENT employees and pensioners affected by the twin earthquakes that struck Davao Oriental may tap their emergency loans offered by the Government Service Insurance System (GSIS).
The GSIS assured its members and pensioners financial assistance, following the two consecutive earthquakes that struck the province.
GSIS President and General Manager Jose Arnulfo A. Veloso said the agency is monitoring the situation in Davao and is ready to help their pensioners recover from the disaster.
‘Just as we did in Cebu, GSIS will ensure that our members and pensioners in Davao receive the support they need to recover quickly. Our priority is to bring relief and security, especially in times of calamity,’ Veloso said.
The pension fund has released more than P346 million in emergency loans to an estimated 12,000 members and pensioners in Cebu.
Under the GSIS emergency loan program, members and pensioners who are residents or employees of the affected areas may borrow up to P40,000 if they have an existing emergency loan. While those who do not have existing loans may borrow up to P20,000.
The borrowed fund is payable within 36 months with a 6 percent annual interest rate, with the first payment due after three months.
Meanwhile, Veloso said the pension fund has been promptly processing emergency loan applications through their digital channels.
Members may apply through the GSIS Touch mobile app, GWAPS kiosks, or over-the-counter and their proceeds will be credited directly to their ATM cards.
The pension fund also said they are coordinating with local government units to look into insured government properties that may have been damaged to ensure swift processing of insurance claims and restoration of public services.
The emergency loan window of the GSIS will also be open in other areas hit by earthquake once they have been placed under a state of calamity.