P1-B GSIS loans await 2K Zambo employees
Credit to Author: ANTONIO P. RIMANDO| Date: Mon, 14 Oct 2019 16:19:19 +0000
CITY: The Government Service Insurance System (GSIS) has set aside P1.3 billion for its loan assistance package to more than 2,000 personnel of the Zamboanga City government.
In announcing the loan package, GSIS Chairman and concurrent Acting President Rolando Ledesma Macasaet vowed to implement nationwide the GSIS Financial
Assistance Loan (GFAL) and Top-Up Loan to help its members get out of their financial burdens.
Macasaet, who grew up in the coastal village of Bolong here, was appointed head of the GSIS early last year by President Rodrigo Duterte, who directed him “to help government workers pay off their debts.”
In a meeting with Mayor Ma. Isabelle Climaco-Salazar, Macasaet said that “eligible GFAL applicants may borrow up to half a million pesos, payable in equal monthly installments for six years at an interest rate of six percent per annum.”
He said those with outstanding loans from other lending firms that are below P500,000 “may choose to borrow the remaining amount through the Top-Up Loan, the proceeds of which GSIS will directly pay to the member.”
To qualify for GFAL, Macasaet explained, “members must be permanent government employees with outstanding loan from private lending institutions, government banks or cooperatives accredited by the GSIS; have paid premiums with the GSIS for at least three years; have no due and demandable loan account with the GSIS; have a net take-home pay of not less than P5,000; and have no pending administrative case or criminal charge.”
He said that prior to his signing ceremony with Climaco-Salazar with regard to local government unit workers, the GSIS had already inked a GFAL memorandum of agreement (MoA) with 27 LGUs and agencies in the Zamboanga Peninsula — composed of Zamboanga del Sur, Zamboanga Sibugay and Zamboanga del Norte and their component cities of Dipolog, Pagadian and Dapitan — benefitting close to 10,000 government workers.