Can Member w/ Existing GSIS Emergency Loan Apply For Another Loan?
GSIS EMERGENCY LOAN – Here is a guide on how much a member may borrow if he or she has an existing loan.
In times of emergencies, among those that you can turn to are your membership to certain government and private institutions. Are you a member of any social insurance institution?
In the Philippines, one of the biggest social insurance institutions is the Government Service Insurance System. It is more commonly called as GSIS.
Members of the GSIS may be entitled to its benefits and loan offers depending on their contributions. There are eligibility requirements in applying for each.
One of the offers is the GSIS Emergency Loan. It aims to assist members in their finances in times of natural calamities and disasters which are really hard to prevent.
This loan offer is open for members who reside or work in an area hit by a calamity while in active service. The applicant must not be on a leave of absence and have no arrears in the payment of the monthly savings. Also, the applicant must have no in-default loan.
How about if you have an existing GSIS Emergency Loan? According to the social insurance institution, you may still apply and avail the offer. In this case, you may borrow up to Php 40,000.00.
The balance of your existing loan will be deducted from your new GSIS loan. Your first due date for payment will fall on the 10th day of the following month.
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