Manila:The Government Service Insurance System (GSIS) has announced the availability of emergency loans for qualified members and pensioners in five areas affected by calamities in the Bicol and Calabarzon regions. This initiative comes as a response to the growing dengue outbreaks and the impact of El Niño.

According to Philippines News Agency, the state pension fund is providing financial assistance to government workers and pensioners in Albay and Naga City, where an increase in dengue cases and related fatalities have led to calamity declarations. Additionally, Camarines Norte has been grappling with drought conditions. A total of PHP1.69 billion has been allocated for 68,506 active members and pensioners in these regions.

Eligible borrowers in Albay, Camarines Norte, and Naga City can submit their loan applications through the GSIS Touch mobile app until October 24, 27, and 28, respectively. The GSIS has also extended the emergency loan offering to other calamity-affected areas, with application deadlines on November 12 for Cavite and November 16 for Rodriguez, Rizal.

For members who do not have existing emergency loans, the borrowing limit is set at PHP20,000. Those with outstanding balances may apply for up to PHP40,000, receiving net proceeds of up to PHP20,000 after settling previous loans. The loans come with a 6-percent interest rate, payable over three years, with monthly payments of PHP655.56 for PHP20,000 loans and PHP1,311.11 for PHP40,000 loans. The program includes redemption insurance, which covers the outstanding balance upon the borrower's death, provided loan payments are current.

To qualify, active members need to reside or work in the affected areas, have paid the necessary premium contributions, maintain a net take-home pay of at least PHP5,000, and have no overdue loans or pending legal cases. Old-age and disability pensioners may also apply, provided their remaining monthly pension after loan deductions is at least 25 percent of their basic pension.