GSIS disburses P1.12B in cash advances of members
Tacloban City (September 12) -- The Government Service Insurance System (GSIS) informed that it has released P1.12 billion in cash advances to 112,221 members whose Record of Creditable Service (RCS) is at least five years and whose UMID-compliant eCard has already been activated.
The new cash advance, called eCAT, has an interest rate of 12 percent effective based on a diminishing balance and is payable in three years.
This is the third time that the GSIS, the pioneer in the use of multi-purpose cards, offered such loan window to members, which is in tandem with the replacement of the old eCard Plus to the now UMID-compliant eCard.
All those qualified for the cash advance can apply via any UMID-compliant GW@PS kiosk located in all GSIS offices nationwide.
Meanwhile, enrollment for the UMID eCard is still ongoing at all GSIS offices.
Members who have enrolled and have received their UMID eCard are enjoined to immediately activate their new eCard using any UMID-compliant G-W@PS kiosk nationwide.
Activation of the UMID eCard automatically deactivates the old eCard Plus.
Furthermore, members who have not yet enrolled for the new eCard, including those who have enrolled but have not yet received their UMID eCard can still use their old eCard.
The GSIS, after having enrolled its members for the UMID eCard will soon announce the deactivation of the old eCard. This is because kiosks will be upgraded into UMID-compliant G-W@PS kiosks. (PIA 8) [top]