Guide on GSIS Emergency Loan Monthly Payment for Borrowing Php 40,000.00
GSIS EMERGENCY LOAN – Here is a guide on the monthly payment to the Government Service Insurance System (GSIS) for borrowing Php 40,000.00.
Undeniably, among the events that are very hard to predict are the natural calamities. There were several times in the past when a natural event like flood and earthquake have left a lot of houses destroyed.
Aside from the household damages, there were also cases when the source of living was affected. Families needed financial assistance to be able to slowly get back to life once again.
The good thing for most government employees is that they have the Government Service Insurance System to turn to. This social insurance system is more commonly called as GSIS.
The said government insurance institution offers GSIS Emergency Loan. Members who are working or residing in an area declared under a state of calamity may be eligible to apply for it.
Further conditions or eligibility requirements include member being on an active service and not on a leave of absence; having no arrears in paying for the monthly contribution; and having no loan in default.
How much you can borrow under this GSIS loan offer? According to the social insurance institution, for member-borrowers who have no outstanding loan, Php 20,000.00 can be borrowed. For those who have outstanding loan, you can borrow Php 40,000.00.
The outstanding balance of your existing loan will be deducted from your loan amount. With regards to the monthly payment under the GSIS Emergency Loan, according to the social insurance institution, it will be at Php 1,311.11 monthly.
Do you want to know how to apply for it and the requirements that you must prepare? You may visit – GSIS Emergency Loan – How To Apply & Requirements To Prepare.
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