The Government Service Insurance System (GSIS) Calamity Loan is a financial assistance program offered by the GSIS to its active members and pensioners who are affected by natural disasters. The loan is intended to help them repair or rebuild their homes, and/or replace their damaged or lost livelihood assets. The loan can be used to pay for the repair or construction of the member’s or pensioner’s own house or to purchase a new one.
The loan is payable within 24 months and is interest-free for the first year. The loan amount is based on the member’s or pensioner’s salary or pension and the extent of the damage to their property. The member or pensioner must submit the required documents and apply for the loan within 180 days after the occurrence of the calamity.
How To Apply for GSIS Calamity Loan Offer
Step 1 – Check your eligibility to the loan offer. To qualify for GSIS Calamity Loan offer, the member-applicant must be:
- a bona fide resident or employee of the government office who lives or works within an area declared under a state of calamity by the Sangguniang Panlalawigan or Panlungsod and/or the National Disaster Reduction Risk Management Council
- having no loan declared in default
- in active
- not on a leave of absence without pay
- having no arrearages in the mandatory social insurance contributions posting
Step 2 – Prepare the requirement. Prepare a duly-accomplished GSIS Emergency Loan Application Form. To download, you may visit – GSIS.
Step 3 – Apply. You can apply for an Emergency Loan through the GSIS Wireless Automated Processing System (GWAPS) kiosk.
According to GSIS, the loan is payable for up to three (3) years or 36 months. The interest rate is 6% per annum. In the case of applying for loan renewal, the balance of the outstanding loan will be deducted from the proceeds of the new loan.