GSIS offers computer, tuition loan

LEGAZPI CITY--The Government Service Insurance System (GSIS) – Legazpi Branch is offering financial assistance to help its pensioners and members, both active and inactive government workers, cope up with the impact of the Covid-19 pandemic.

GSIS Legazpi branch manager Levi S. Olivar said their office ensures unhampered service and safety of its members and staff as the country faces the threat brought by the pandemic.

The GSIS will be offering educational assistance to help members in paying for tuition fees and other school expenses. These include the educational and computer loan programs to help parents and students in coping up with the new normal, such as the need to purchase laptops and gadgets for distance learning and work from home arrangements.

“GSIS is proposing for a computer loan to be launched this September. Gross loan is P30,000 and payable in three years at 6% per annum. Tentative launching is on September 11,” Olivar said at the Talakayan sa PIA Albay radio program of the Philippine Information Agency-Albay.

To qualify, the member must be a permanent employee with at least three monthly premium remittances. Moreover, it is still for approval of the agency’s authorized approving officer (AAO) since the take home pay must not be lower than P5,000 after deduction of monthly amortization.

“We also have the GSIS educational loan (EL) program for members, wherein members can nominate two scholars, particularly their children who are in college. Maximum loanable amount is P100,000 per academic year,” he said.

Olivar noted that the EL program is a 10-year loan with five-year grace period. It will be launched on September 17.

"The educational assistance is payable to the school as tuition fee and not directly to the member," he added.

Olivar also encouraged GSIS members to pay their loan on time to avail this program. Members with unpaid loans for six months and above are not qualified for this program.

GSIS has extended its Covid-19 emergency loan until September 10, 2020, with P40,000 loanable amount payable in three years with 6% interest per annum.

This loan is open for GSIS members, old age and disability pensioners.

Application can be done online. (by Sally Atento-Altea/PIA5)