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P10.12 billion loans granted to GSIS members

By MB Online

The Government Service Insurance System (GSIS) on Friday, May 22, announced that they had granted P10.12 billion worth of loans to 200,000 members and pensioners.

(FACEBOOK / MANILA BULLETIN)

(FACEBOOK / MANILA BULLETIN)

In a statement, GSIS president and general manager Rolando Macasaet said that the said figure was based on their data as of May 13.

The GSIS as well as other government insurance agencies has been providing loan packages for their members and pensioners as part of government’s efforts to help people in these difficult times.

Macasaet said that of the P 10.12 billion, 43 percent were for emergency loans while the remaining 57 percent were for consolidate policy loans and pension loans.

To apply for loans, members can send their applications via email or through the GSIS Wireless Automated Processing System or (GWAPs), which can be located in all GSIS branches or extension offices.

Once the loan is approved the proceeds will go to the borrowers Unified Muti-Purpose ID (UMID) or eCard.

Since the onset of the battle against the coronavirus disease 2019 (COVID-19), the government has been encouraging online transactions to avoid the risk of spreading the disease.


Source: Manila Bulletin (https://business.mb.com.ph/2020/05/23/p10-12-billion-loans-granted-to-gsis-members/)

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