Super Typhoon Carina has left many Filipinos in dire need of assistance.
The Social Security System (SSS) steps up to provide financial relief through its calamity loan program.
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What is the SSS Calamity Loan?
The SSS calamity loan offers members financial assistance equivalent to one monthly salary credit or up to a maximum of P20,000.
This loan is specifically for those affected by natural disasters, such as Super Typhoon Carina.
Eligibility Requirements
To qualify for the SSS calamity loan, members must meet the following criteria:
- Have at least 36 monthly contributions, with six posted within the last 12 months before the application.
- Reside in the declared calamity area.
- Be below 65 years old at the time of loan application.
- Have no final benefit claim, such as permanent total disability or retirement.
- Have no past due SSS short-term member loans.
- Have no outstanding restructured loan or calamity loan.
Loan Details
Members can borrow up to one monthly salary credit or P20,000, whichever is lower.
The loan carries an annual interest rate of 10%.
Repayment is spread over 24 equal monthly installments.
Application Process
Applying for the SSS calamity loan is straightforward.
Here’s how to do it:
- Online Application: Members should apply through their My.SSS account at www.sss.gov.ph.
- Accurate Information: Ascertain that all the provided information is accurate and up-to-date.
- Submission Period: Submit the application within the specified period, such as May 21 to August 20, 2024, for recent calamities.
Tips for a Smooth Application
To avoid any hiccups in your loan application, follow these tips:
- Check Eligibility: Confirm your eligibility before applying to avoid rejection.
- Secure Credentials: Keep your My.SSS account credentials secure and easily accessible.
- Update Information: Make sure your contact details and bank information are updated in the SSS system.
- Prepare Documents: Have necessary documents ready to prove residency in the calamity area.
Reminders
Once your loan is approved, the proceeds will be credited to your registered UMID-ATM Card or active PESONet participating bank account.
Use the loan responsibly for recovery and essential needs related to the calamity.
Mark your calendar for repayment dates to avoid defaulting on the loan.
If you encounter repayment difficulties, contact SSS immediately to discuss possible options.
Additional Information
The SSS calamity loan is designed to assist members affected by natural disasters like typhoons.
This loan program is separate from other SSS loan offerings.
The availability of the calamity loan is typically announced shortly after a calamity has been declared in specific areas.
How the Calamity Loan Helps
SSS President and CEO Rolando Ledesma Macasaet emphasized that SSS is always ready to assist members in typhoon-affected areas.
He stated, “We want to assure them that in times of calamities, they can rely on SSS to provide the needed financial assistance as they recover from Typhoon Carina.”
Interest and Repayment Terms
The loan can be paid back in two years or 24 equal monthly installments.
The interest rate is set at 10% per annum.
Recent Updates
SSS Offers Calamity Loan to Typhoon ‘Carina’ Victims
The Social Security System (SSS) will provide calamity loan assistance to members affected by Typhoon ‘Carina’ in the National Capital Region and areas declared under a state of calamity. Members can borrow up to P20,000, equivalent to their one-month salary credit, and repay the loan in 24 monthly installments with an annual interest rate of 10 percent. To qualify, members must meet specific criteria, including having at least 36 monthly contributions and residing in the declared calamity area. Applications can be submitted through the My.SSS account on the official SSS website.
Super Typhoon Carina Brings Strong Winds and Heavy Rains to the Philippines
Tropical cyclone Carina has intensified into a Super Typhoon, with winds exceeding 185 km/h, impacting the northern Philippines, specifically Batanes, Cagayan, and Ilocos Norte. The Southwest Monsoon is also bringing heavy rains to various regions, resulting in floods and landslides in areas like Metro Manila, Abra, and Benguet. Carina is expected to make landfall in northern Taiwan, where it is predicted to weaken as it exits the Philippine Area of Responsibility. (GMA News Online)
Pag-IBIG Offers Calamity Loan to Flood-Affected Members
The Pag-IBIG Fund is offering a calamity loan to members affected by the recent floods in Metro Manila, Batangas, Cainta, Rizal, Baco, Oriental Mindoro, and other areas declared under a state of calamity. Affected members can borrow up to 80% of their Pag-IBIG Regular Savings at a low interest rate of 5.95% with flexible payment terms. Pag-IBIG is also deploying its Lingkod Pag-IBIG on Wheels (LPOW) to affected areas to provide assistance and accept applications. Members can submit applications online through their My.SSS account or through their company’s accredited Fund Coordinators. The Pag-IBIG Fund aims to provide timely and reliable assistance to its members during their time of need. (The Manila Times)
SSS Offers Calamity Loan to Taiwan Earthquake-Affected Members
SSS members impacted by the recent Magnitude-7.4 earthquake in Taiwan can avail of a calamity loan until Aug. 20, 2024. The Calamity Loan Assistance Program (CLAP) allows affected members to borrow up to one monthly salary credit or P20,000. Members must meet specific criteria and secure a Calamity Loan Reference Number from the SSS Taiwan Foreign Office in Taipei City to apply online through their My.SSS account. Loan proceeds will be credited to their accounts with flexible repayment terms and a waived service fee. (The Manila Times)
Video: SSS, may alok na calamity loan sa mga miyembrong apektado ng Bagyong Carina
The Social Security System (SSS) is offering a calamity loan to those affected by the impact of Typhoon #CarinaPH and the monsoon. For more details on eligibility and the application process, Jay Labadia from the SSS Media Affairs Department provides insights in an interview with #News5. This loan aims to provide financial assistance to individuals affected by the recent calamities.
Final Thoughts
By following these tips and reminders, SSS members can effectively utilize the calamity loan program to help recover from the effects of natural disasters.
Stay informed about SSS announcements regarding calamity loan offerings in your area.
SSS remains committed to supporting its members during challenging times.
For more information, visit the SSS website at www.sss.gov.ph and stay updated on the latest announcements regarding the calamity loan program.
Remember, financial assistance is available to help you rebuild and recover from the devastation caused by Super Typhoon Carina.
