GSIS extends deadline for COVID-19 emergency loan until August 12

GSIS building
BusinessWorld / File

MANILA, Philippines — Present and former government workers receiving pension have until August 12 to file their application for "COVID-19 Emergency Loan" before the Government Service Insurance System (GSIS) after the state pension fund extended the deadline for another month.

"We are extending the July 12 deadline to give more time for our members and old-age and disability pensioners affected by the public health crisis to apply for the loan," Rolando Ledesma Macasaet, GSIS president and general manager, said in a statement released Tuesday.

As members turn to debt to help them weather the economic fallout from the pandemic, GSIS said the pension fund is poised to disburse P43 billion to assist more than 1.3 million members who are qualified to avail the emergency loan.

According to Macasaet, the amount that members, including people still paying existing loans, can borrow under the GSIS's program was increased to P40,000 from P20,000. The emergency loan is payable in three years with an interest of 6%.

Macasaet also said GSIS relaxed the requirements for loan applications so that more members can borrow. GSIS likewise eased the six-month paid premium rule to only three months for members to qualify for emergency loan.

GSIS members and pensioners may submit their emergency loan application through the designated email addresses of the branch offices covering the agencies of active members and place of residence of pensioners. Those who are from Metro Manila may send their application form and documentary requirements to [email protected] 

The list of the email addresses of all GSIS branches is published in the GSIS website. The COVID-19 Emergency Loan application form may be downloaded from HERE. — Ian Nicolas Cigaral



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