Guide on How Much You Can Borrow Under the GSIS Emergency Loan
GSIS EMERGENCY LOAN – Here is a guide on how much you can borrow under the emergency loan offer of the Government Service Insurance System.
The Government Service Insurance System (GSIS) is one of the government agencies in the Philippines that you can turn to in the face of emergencies. Whether you are into making ends meet, coping up with a calamity, coping up with several debt lines, etc., the GSIS may assist you.
If you are looking for a multi-purpose loan, you may apply for the GSIS Salary Loan offer. On the other side, if you wanted to consolidate your debts into a single loan, you may apply for the GSIS Conso-Loan.
How about if your place was struck by a calamity? The Government Service Insurance System offers the GSIS Emergency Loan. It is open for those who are residing or working areas hit by a calamity.
The social insurance institution has posted eligibility requirements in applying for this loan offer. To be eligible, the member must be:
- a bona fide resident or employee of the government office within the area covered by the offer
- in active service
- not on a leave of absence without pay
- having no arrearages in the payment of mandatory contributions to social insurance institution
- having no loan declared as default
How much can you borrow under the GSIS Emergency Loan? Based on an article on Cash Mart, the maximum amount that can be borrowed by a member who has no existing calamity loan is Php 20,000.00.
Meanwhile, if you have an existing Emergency Loan, you can borrow up to Php 40,000.00. According to the article, the loan is payable for up to three (3) years or thirty six (36) monthly amortizations.
Do you want to know which are the areas covered under this loan offer this October and November? You may visit – UPDATE: Who May Apply For GSIS Calamity Loan This October-November.
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