[October 16, 2008] GSIS accepts pension loan application at GW@PS kiosks Tweet MANILA, Oct 16, 2008 (Asia Pulse Data Source via COMTEX) -- The Government Service Insurance System (GSIS) has included pension loans as among the services that can be processed using the eCard Plus on the GSIS Wireless Automated Processing System (GW@PS) kiosks installed in all GSIS offices and select government offices nationwide. GSIS President and General Manager Winston F. Garcia said the loan can still be applied by by old-age and disability pensioners over-the-counter in their servicing GSIS office. He explained that inclusion of this loan to the services offered using their kiosks is among the programs of the Arroyo administration to further aid the needs of government pensioners. "(The program) recognizes the senior citizens as productive individuals who can still pursue endeavors that will make them useful to society, provided they are given the proper financial support," he said. GSIS said applicants for this particular loan can borrow up to six times the amount of their monthly pension, but not exceeding P100,000. The loan has 12 and 24 months terms and has an interest rate of eight percent annually. Monthly amortization will be deducted from the regular monthly pension and pensioners can renew the loan after full payment. DCT/JS [ Back To TMCnet.com's Homepage ]