SIS grants longer grace period for HELP borrowers in

Yolanda areas
Print
Date Posted: 2014-06-09 08:26:36
Government Service Insurance System (GSIS President and Genera! "ana#er $o%ert G& 'er#ara
announced t(at t(e )ension *und is e+tendin# t(e #race )eriod *or t(e )ayment o* amorti,ation o* -ome
.mer#ency /oan Pro#ram (-./P %orro0ers in 1o!anda-(it areas unti! 2ovem%er t(is year&
34e (o)e t(at t(e de*erment o* t(e co!!ection due date under -./P 0i!! ena%!e our mem%ers in 1o!anda-(it
areas to *ocus t(eir resources in re%ui!din# t(eir (omes and #oin# %ac5 to t(eir norma! !ives36 'er#ara said&
-./P %orro0ers 0ere ori#ina!!y sc(edu!ed to start )ayin# t(eir *irst mont(!y amorti,ation in 7u!y t(is year&
-o0ever6 a !ot o* %orro0ers (ave not yet recovered *rom t(e devastation o* t(e ty)(oon& 8(is )rom)ted t(e
)ension *und to !en#t(en t(e #race )eriod to severa! more mont(s&
.ar!ier6 GSIS simi!ar!y e+tended a moratorium on a!! !oans o* mem%ers and )ensioners in (ard-(it 1o!anda-
(it areas unti! 9cto%er 2014&
8(e GSIS o)ened t(e -./P 0indo0 in 7anuary t(is year to assist 1o!anda victims to re%ui!d t(eir (omes
destroyed %y t(e ca!amity& :nder -./P6 mem%ers 0or5in# or residin# in areas (ard-(it %y 1o!anda may
a))!y *or a !oan %ased on t(eir tota! !en#t( o* service in t(e #overnment& "em%ers 0(o (ave %een in t(e
#overnment *or 10 years or more may %orro0 a ma+imum amount o* P()2006000 0(i!e t(ose 0(o (ave
%een in t(e service *or *ive years or more %ut !ess t(an 10 years6 may ta5e out u) to P()1006000& In
addition6 t(ose 0(o (ave %een in t(e service *or !ess t(an *ive years may o%tain a ma+imum !oan o*
P()306000&
8o date6 GSIS a!ready re!eased P9&; %i!!ion under -./P to around 6;649< mem%ers& 8(e amount
re)resents 6;= o* t(e P14&<-%i!!ion *inancia! assistance e+tended to 1o!anda-(it mem%ers and )ensioners&
8(e ot(er )ro#rams im)!emented %y t(e GSIS to (e!) 1o!anda victims inc!uded t(e #rant o* !oan moratorium
*or mem%ers and )ensioners !ivin# or 0or5in# in 0orst-(it areas> an en(anced emer#ency !oan 0it( a (i#(er
credit !imit o* P()406000 *or mem%ers 0it( outstandin# emer#ency !oan %a!ance> and *or t(e *irst time6 a
)ensioners? emer#ency !oan o* P()206000&
@or inAuiries on -./P6 mem%ers may ca!! t(e GSIS contact center at 84;-4;4;&
SIS grants longer grace period for HELP borrowers in
Yolanda areas
Print
Date Posted: 2014-06-09 08:26:36
Government Service Insurance System (GSIS President and Genera! "ana#er $o%ert G& 'er#ara
announced t(at t(e )ension *und is e+tendin# t(e #race )eriod *or t(e )ayment o* amorti,ation o* -ome
.mer#ency /oan Pro#ram (-./P %orro0ers in 1o!anda-(it areas unti! 2ovem%er t(is year&
34e (o)e t(at t(e de*erment o* t(e co!!ection due date under -./P 0i!! ena%!e our mem%ers in 1o!anda-(it
areas to *ocus t(eir resources in re%ui!din# t(eir (omes and #oin# %ac5 to t(eir norma! !ives36 'er#ara said&
-./P %orro0ers 0ere ori#ina!!y sc(edu!ed to start )ayin# t(eir *irst mont(!y amorti,ation in 7u!y t(is year&
-o0ever6 a !ot o* %orro0ers (ave not yet recovered *rom t(e devastation o* t(e ty)(oon& 8(is )rom)ted t(e
)ension *und to !en#t(en t(e #race )eriod to severa! more mont(s&
.ar!ier6 GSIS simi!ar!y e+tended a moratorium on a!! !oans o* mem%ers and )ensioners in (ard-(it 1o!anda-
(it areas unti! 9cto%er 2014&
8(e GSIS o)ened t(e -./P 0indo0 in 7anuary t(is year to assist 1o!anda victims to re%ui!d t(eir (omes
destroyed %y t(e ca!amity& :nder -./P6 mem%ers 0or5in# or residin# in areas (ard-(it %y 1o!anda may
a))!y *or a !oan %ased on t(eir tota! !en#t( o* service in t(e #overnment& "em%ers 0(o (ave %een in t(e
#overnment *or 10 years or more may %orro0 a ma+imum amount o* P()2006000 0(i!e t(ose 0(o (ave
%een in t(e service *or *ive years or more %ut !ess t(an 10 years6 may ta5e out u) to P()1006000& In
addition6 t(ose 0(o (ave %een in t(e service *or !ess t(an *ive years may o%tain a ma+imum !oan o*
P()306000&
8o date6 GSIS a!ready re!eased P9&; %i!!ion under -./P to around 6;649< mem%ers& 8(e amount
re)resents 6;= o* t(e P14&<-%i!!ion *inancia! assistance e+tended to 1o!anda-(it mem%ers and )ensioners&
8(e ot(er )ro#rams im)!emented %y t(e GSIS to (e!) 1o!anda victims inc!uded t(e #rant o* !oan moratorium
*or mem%ers and )ensioners !ivin# or 0or5in# in 0orst-(it areas> an en(anced emer#ency !oan 0it( a (i#(er
credit !imit o* P()406000 *or mem%ers 0it( outstandin# emer#ency !oan %a!ance> and *or t(e *irst time6 a
)ensioners? emer#ency !oan o* P()206000&
@or inAuiries on -./P6 mem%ers may ca!! t(e GSIS contact center at 84;-4;4;&