Government employees can avail of emergency loans of up to P20,000 to deal with damage caused by Tropical Storm Maring.
According to the Government Service Insurance System, more than 200,000 members living or working in areas affected by Maring and declared under a state of calamity by the National Disaster Risk Reduction and Management Council.
GSIS members eligible for the loans may apply at any GSIS branch or at GSIS Wireless Automated Processing System machines deployed to provincial capitols, city halls, and municipal halls in affected areas. The loans will be payable over 36 months and will have a reduced interest of 6 percent from 8 percent.
“The loan proceeds will be credited to their eCard accounts by Saturday, August 24, at the earliest,” GSIS president and general manager Robert Vergara said.
Under the GSIS Emergency Loan Program, eligible members may borrow P20,000 payable in 36 equal monthly installments. They may renew their emergency loans upon payment of at least 12 monthly amortizations.
GSIS has P7 billion set aside for emergency loans this year.
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Photo: JC Cahinhinan
