GSIS Extends COVID-19 Emergency Loan Deadline Until August 12

MANILA, Philippines – Current and former civil servants in receipt of a pension have until August 12 to file their “COVID-19 emergency loan” application with the Government Service Insurance System (GSIS) after the State extended the deadline by one month.

“We are extending the July 12 deadline to give our members and old age and disability pensioners affected by the public health crisis more time to apply for the loan,” said Rolando Ledesma Macasaet, President and CEO of GSIS , in a statement released Tuesday.

As members take on debt to help them weather the economic fallout from the pandemic, GSIS said the pension fund is set to disburse 43 billion pesos to help more than 1.3 million members who are qualified to qualify for the emergency loan.

According to Macasaet, the amount that members, including people who are still repaying existing loans, can borrow under the GSIS program has increased from 20,000 to 40,000 pesos. The emergency loan is repayable over three years at 6% interest.

Macasaet also said that GSIS has relaxed the requirements for loan applications so that more members can borrow. GSIS also relaxed the six-month premium rule to just three months for members to qualify for an emergency loan.

GSIS members and retirees can submit their emergency loan request through designated branch email addresses covering active members ‘agencies and retirees’ place of residence. Those coming from Metro Manila can send their application form and required documents to [email protected].

The list of email addresses of all GSIS branches is published in the GSIS website. The COVID-19 Emergency Loan Application Form can be downloaded from HERE. – Ian Nicolas Cigaral