GSIS increases emergency loan amount to P40K

GSIS increases emergency loan amount to P40K

Government employees can now avail from the increased emergency loan credit limit from the Government Service Insurance System (GSIS) up to P40,000.


GSIS president Rolando Macasaet, during the #Laging Handa PH briefing said the agency’s Board of Trustees have decided to increase the loanable amount after noting that some of those who applied for emergency loans have existing loans.

According to Macasaet, GSIS is now offering an Emergency Loan or Calamity Loan to all qualified members nationwide for the first time in response to the threat brought by coronavirus disease (COVID-19).

To qualify for the emergency loan, the member-applicant must be in active service and not on leave of absence without pay; has no arrears in the payment of mandatory social insurance contributions; and has no loan that has been declared in default.

Members with a GSIS eCard / UMID card may apply for an Emergency Loan through the GSIS Wireless Automated Processing System (GWAPS) kiosk or online through their website at www.gsis.gov.ph. In the website, members will be provided with step by step procedure for easy access.

Emergency loans may be availed of within three months after the declaration of a state of calamity in an area.

Under GSIS rules, the balance of the outstanding loan will be deducted from the proceeds of the new loan once the application has been approved.

The loan proceeds will be credited to the borrowers GSIS UMID account within three (3) to four (4) working days and can be withdrawn from LandBank of the Philippines and UnionBank.

Macasaet said they are accepting online loan applications because of the enhanced community quarantine (ECQ) declared over Luzon, among other areas.