For members who have been affected by calamities, the GSIS is offering emergency loan worth P20,000, with a minimal interest rate of 8 percent per year.
The loan is payable up to three years. This means that the P20,000 loan, at 8 % interest, gives a monthly amortization of only P688.89.
The GSIS emergency loan can be availed of using the GSIS Wireless Automated Processing System kiosk or G-W@PS kiosk anywhere in the country or via over-the-counter (OTC) application to be filed in GSIS offices located in the calamity declared areas.
To qualify for the emergency loan, the member-applicant must be: a bona fide employee of the government office within the declared calamity area; be in active service and not on leave of absence without pay; has no pending criminal or administrative charges; has no arrearages in the payment of mandatory social insurance contributions; and has no loan that has been declared in default.
In addition, the agency of the member-applicant must not be suspended due to non-payment and non-remittance of premiums and loans.
To apply for the emergency loan via OTC, eligible members have to accomplish an application form. A tentative computation of their loan proceeds and monthly amortization will also be shown to the member-applicants when they apply via G-W@PS kiosk or OTC.
If the member-applicant still has an outstanding emergency loan, this will be deducted from the proceeds of the new loan.
Source(http://www.gsis.gov.ph/content.asp?ContentId=589)
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