The Government Service Insurance System (GSIS) said it would provide emergency loans to members and pensioners in Cebu, after a magnitude 6.9 earthquake struck the province this week, damaging buildings and disrupting daily life.
The GSIS Emergency Loan Program will be opened to qualified members and pensioners residing or working in Cebu, the pension fund said. Eligible members and pensioners may borrow up to P40,000 if they have an existing emergency loan, or up to P20,000 if they have no outstanding balance.
The loan is payable in 36 months at an interest rate of 6 percent per annum, with the first monthly amortization due after three months.
Loan proceeds will be credited electronically through the borrowers’ ATM cards, ensuring fast and safe release of funds.
Members may apply via the GSIS Touch mobile app, GSIS Wireless Automated Processing System kiosks, or through the GSIS e-service portals.