Manila: The Government Service Insurance System (GSIS) announced on Monday that its members and pensioners impacted by Tropical Storm Maymay and the enhanced southwest monsoon, known locally as 'habagat', will soon have access to emergency loans. This will be applicable once the affected areas are officially declared as being in a state of calamity.

According to Philippines News Agency, eligible members and pensioners with existing emergency loans can borrow up to PHP40,000. This amount will first be used to pay off any outstanding emergency loan balance, with the remaining funds being released to the borrower. Those who do not have a current emergency loan are eligible to borrow up to PHP20,000.

To qualify, active members must live or work in an area declared as a calamity zone, remain actively employed without being on unpaid leave, have no ongoing administrative or criminal cases, and have paid their premiums for at least six months prior to applying. Additionally, applicants must maintain a net take-home pay of at least PHP5,000 after loan deductions, as stipulated by the General Appropriations Act.

Old-age and disability pensioners residing in declared calamity zones are also eligible to apply, provided that their net monthly pension remains at least 25 percent of their basic monthly pension after loan deductions.

The GSIS specified that the emergency loan carries an interest rate of 6 percent per annum and is payable over a three-year period. Applications can be submitted at any time through the GSIS Touch mobile application, which is available on the Google Play Store and Apple App Store.

For additional assistance, members and pensioners can visit the GSIS website, contact their support center, or reach out via email and official social media platforms.