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Form no.

HELP-2014-01-01 Date: 01/07/2014

HOME EMERGENCY LOAN PROGRAM (HELP)APPLICATION FORM

(Typhoon Yolanda)
IMPORTANT: Proceeds of this loan will be credited to the eCard account of the borrower. Prior to the filing of the accomplished application form, the borrower must read thoroughly the terms and conditions below.

TO BE FILLED OUT BY THE APPLICANT
Name of Applicant
Last Name First Name Middle Name

Date of Birth

m

m

d

d

y

y

y

y

Business Partner No. (10-Digit)


No.

Mailing/Residential Address

Street

Brgy/District

Municipality/City

Zip Code

Landline No. Present Office

Mobile No.

Email Address Present Office Address

Amount Applied For : PhP _______________________

NOTE: Theloanable amount is subject to validation of the Borrower’s: (1) Total Length of Service (TLS)by GSIS and (2) paying capacity by the AAO

TERMS AND CONDITIONS
1. Qualified Loan Borrowers
Active members who are working or residing in the cities/municipalities that were considered worst hit areasdue to Typhoon Yolanda are qualified to avail of the GSIS HELP. List of worst hit areas is available in the GSIS website at www.gsis.gov.ph. Loan applicationshall be accepted at any GSIS office nationwide starting02 January 2014 untilthe close of business hours of 31 March 2014. The maximum loan amount for the GSIS HELP shall be based on the member’s Total Length of Service (TLS), as follows: Total Length of Service (TLS) Less than 5 years 5 years or more but less than 10 years 10 years and above Maximum Loanable Amount P30,000.00 P100,000.00 P200,000.00

2. Application and Availment Period 3. Loan Amount

The loan amount that can be availed of shall be in multiples of Ten Thousand Pesos (PhP10,000), i.e., P10,000.00, P20,000.00, P30,000.00, P40,000.00 and so on, but not exceeding P200,000.00.

4. Interest Rate and Loan Term

The interest rate shall be six percent (6%) per annum compounded annually (paca) based on a diminishing balance. A fraction of a month is considered one (1) month. The repayment term of the loan is ten (10) years. The approved loan shall be covered by a redemption insurance (RI)at a monthly premium rate of 0.38 per P1,000.00.

5. Redemption Insurance

the loan shall be deemed fully paid by virtue of the redemption insurance coverage. 2014.e. 12.xx xxx. In Default Account and Penalty Charges 10. all of which the borrower expressly waives. arrearages shall be deducted from other loanswhich the member may avail. as a matter of GSIS collection and remedial policies.000) with 6% interest paca payable in ten (10) years. Application of Redemption Insurance Benefit If the member dies and the loan is up-to-date.xxx. whichever comes first. processing fee). 14. 11. Cancellation The loan may be pre-terminated without penaltiesby paying the outstanding balance of the loan before the end of the loan term. 9. No Pre-Termination Fee 13. only the theoretical balance of the loan shall be considered fully paid while the arrearages shall be deducted from whatever benefits that may be due the deceased. the member has no more option to cancel the loan but only to pre-terminate it without any right to demand for reimbursements of the fees deducted (i. The insurance coverage shall automatically terminate once the borrower pays the loan in full or upon expiration of the term of the loan.xxx. 209-11 [Choice of Loan Amortization Schedule for Pensioners or CLASP].6. Net Proceeds The net proceeds shall be computed as follows: Gross Loan Amount Less: Processing Fee (1% of the Gross Loan Amount) Net Proceeds xxx. the outstanding principal and unpaid interests shall be collected in accordancewith PPG No. the outstanding balance of the loan shall be due and payable without need of demand or further notice. 7. any amount in the eCard account credited thereon as a result of fraud. In such case. Total Monthly Amortization Below is the monthly amortization for various loan amounts (multiples of 10.On the other hand. The redemption insurance coverage shall be automatically lapsed or cancelled once the loan is declared in default. [ SIGNATURE OF MEMBER/BORROWER TIN DATE FILED GSIS VALIDATION and BORROWER’S CONFIRMATION Validation of Loanable Amount Total Length of Service (TLS) Loanable Amount Based on TLS Amount Applied For Recommended Loanable Amount GSIS Validation Signature over Printed Name Date Validated Borrower’s Confirmation Signature over Printed Name Date Confirmed .xx 8. In case the loan is in arrears. Compulsory Pre-Termination The loan shall be due and demandable upon resignation. Failure of the borrower to pay six (6) monthly instalments shall consider him/her in default. An account which incurs arrearages equivalent to six (6) months or more of the amortization shall become due and demandable and shall be charged an interest rate of 12% per annum compounded monthly (pacm).xx xxx. and the 1st monthly amortization must be remitted to the GSIS on or before August 10. Recovery of Amount/s Credited in the GSIS eCard I confirm that I have read and fully understood theabove Terms and Conditions and undertake tocomply with them. Monthly amortizations must be paid every 10th of the month thereafter until the loan is fully paid. Once the loan is approved and the loan proceeds have been credited in the GSIS eCard account. misrepresentation or error on account arising from any transaction which the member may have with the GSIS. retirement or separation from service of the member. The GSIS shall have the right to recover by any legal means possible. In case of retirement. the outstanding balance and unpaid interests prior to death shall be due and demandable and shall be deducted from whatever benefits that may be due the deceased. First Due Month (FDM) Payment of monthly amortization shall commence on July 2014. In case the account is in default (where RI coverage has lapsed or been cancelled).