GSIS provides PHP1.5B emergency loans for storm victims

The Government Service Insurance System (GSIS) has provided emergency loans totaling over PHP1.5 billion to victims of tropical storms Dante, Crising, Emong, and other recent calamities.

Since the storms hit, approximately 44,000 GSIS members have applied for these loans, reflecting the immediate needs of those impacted by the disasters.

Emergency loan amounts are PHP40,000 for active members and PHP20,000 for pensioners, payable in 36 monthly installments with a 6% annual interest rate and including Loan Redemption Insurance (LRI) coverage.

The loans remain available until specific dates in various affected provinces and cities, such as Siquijor until August 15 and Cavite, Manila, and Quezon City from July 24 to October 23.

GSIS will extend loan availability to additional areas if they are declared under a state of calamity, with the list subject to expansion based on local government declarations.

The monsoon rains caused by these cyclones resulted in at least 37 deaths and affected over 7.6 million people according to the National Disaster Risk Reduction and Management Council.