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Missed GSIS’s COVID-19 Emergency Loan Last Year? It’s Available Again Until June 21, 2021
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  • The Government Service Insurance System (GSIS) brings back its COVID-19 emergency loan, which opened for a limited time in 2020 when the pandemic started. It reopened on March 22, 2021 and is available until June 21.

    This is the social insurance corporation's response to the resurgence of COVID-19 cases that began a few weeks ago, according to GSIS Vice-President for Visayas Atty. Joseph Philip Andres.

    "Kung sila po ay nangangailangan, puwede po silang mag-apply. Napakadali po at napakagaang ng terms nito," he said in an interview with Bernadette Sembrano in the Lingkod Kapamilya newscast last April 19.

    In 2020, the lawyer reported, a total of 655,000 individual members availed of the pandemic loan. The agency has about 2.5 million active members and pensioners at the end of that year.

    It means, he added regarding the pandemic loan, "meron pa po tayong malaking potential market para dito." That why, members and pensioners are highly encouraged to take the opportunity to have extra funds needed this time of economic and health difficulties.

    Who are eligible for the GSIS COVID-19 emergency loan?

    Atty. Andres said the pandemic loan is available to GSIS active members and pensioners who did not avail of it when it was first offered in 2020. They can apply for the loan amounting to Php20,000.

    But those who have availed of other emergency loans because, for instance, they were affected by a typhoon, they are eligible as long as they aren't remiss on their repayment obligations.

    They can apply for the loan amounting to Php40,000, so that, Atty. Andres explained, "mabayaran nila ang kanilang lumang loan para meron pa rin silang proceeds right now."


    He added, "Alam naman natin na napakahirap ng buhay ngayon because of this pandemic. Resources are limited. Kaya ito po ang tulong na ibinibigay ng GSIS."

    Atty. Andres pointed out, though, that there are the other usual requirements. These include the members not being on a leave of absence without pay status and not incurring arrearages in the payment of mandatory social insurance contributions. Additionally, they must not have a loan that has been declared in default.

    What are the terms?

    The GSIS COVID-19 emergency loan has a 6% interest rate and is payable in 36 months or three years, said one of its officials. Those who will qualify for the loan are not required to use it for special purposes, such as for a livelihood project.

    Atty. Andres also gave additional information on the repayment scheme: "Depende sa billing cycle, pero the following month po, kung nakapag-avail on or before the 23rd [of the month], ay masasama na sa kanilang [current] billing statement."

    How to apply?

    GSIS currently runs on limited operating hours and with a skeleton workforce since the reimposition of the stricter form of community quarantine in late March. "Pero patuloy na nagse-serbisyo," Atty. Andres said.

    At the same time, the agency has on top of its agenda the safety of its workforce, members, and guests. That's why, rather than going to its offices, he strongly recommends the use of GSIS's online facilities.

    He said to simply visit the agency's website to access the full details and the necessary forms, such as the one meant for the GSIS COVID-19 emergency loan. Interested members may also call the agency's hotline numbers for assistance.

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    "Nakapag-pivot nang maaga ang GSIS since early last year at na-institutionalize na namin ang online transactions with our members," he said, adding that going digital also benefits everybody's safety.

    "That’s why we are very cognizant na medyo delikado, so in-encourage namin talaga sila to transact with GSIS through the various online platforms."

    Application for the availment of the GSIS COVID-19 emergency loan runs until June 21, 2021.

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