The Government Service Insurance System (GSIS) said it has allotted an additional P1.9 billion in emergency loans for over 71,000 active members and pensioners in five areas heavily affected by the southwest monsoon (habagat), Intertropical Convergence Zone, and tropical storms "Crising," "Dante," and "Emong."

In a statement, GSIS Officer in Charge President and General Manager Juliet Bautista said the state insurer has relaxed its requirements for granting emergency loans and will release them "once a local sanggunian declares a state of calamity" upon the recommendation of the Local Disaster Risk Reduction and Management Council.

The deadline for filing of applications is 5 October in Quintin, Pangasinan; 7 October in the province of Sultan Kudarat; 10 October in Atok, Benguet; 27 October in Parañaque; and 29 October in Taguig.

“We made the process secure and convenient. Applications may be filed via the GSIS Touch mobile app," Bautista added.

He noted that 99.79 percent of applications are already submitted online.

Active members working or residing in the affected areas may apply, provided they have no due and demandable GSIS loan, are not on unpaid leave, have paid premiums in the last six months, have no pending administrative or criminal case, and have a net monthly take-home pay of at least P5,000 after deductions.

Old-age and disability pensioners may also apply, provided they retain at least 25 percent of their monthly pension after loan deduction.

Qualified borrowers may avail of P20,000 or up to P40,000 if they have an existing emergency loan.

The loan is payable in three years with a low interest rate of six percent per annum and no processing fee.

It is also covered by loan redemption insurance, which deems the loan fully paid in the event of the borrower’s death, provided loan payments are up to date.