The public can still avail the Government Service Insurance System’s (GSIS) COVID-19 emergency loan program until December 27, 2020. The loan program aims to provide financial aid to those heavily affected by the pandemic.
Members who are not on leave of absence without pay, have no criminal case, and have at least PhP5,000 remaining from their monthly salary after deductions are qualified for a loan. Qualified members with existing loans can borrow up to PhP40,000 so they can pay their previous balance, but they can still avail a PhP20,000 loan. Meanwhile, borrowers without existing loans can avail a PhP20,000 loan. Those who paid premiums for three months prior to their application date can also apply. Senior and disabled loaners can apply if their loan is 25% of their monthly pension after loan availment [4].
Meanwhile, those who have previously availed COVID-19 loans will no longer be qualified, while members who have arrears for at least 6 months can renew their existing calamity loans except the COVID-19 emergency loan. Loan applications will be approved by authorized officers of the members’ employers and agencies. Application forms can be downloaded from https://www.gsis.gov.ph/downloadable-forms. To ensure safe and contactless transactions, forms should be submitted to the GSIS website. Members must sign up so they can create an account that can be used to submit their emergency loan forms.