Hello Earthlings! I’ve got some news that might just be a lifesaver for those of you who have been impacted by Typhoon ‘Carina’. The Social Security System (SSS) is rolling out a calamity loan program specifically to help members in the National Capital Region and other areas that might be declared under a state of calamity.
According to SSS President and CEO, Rolando Ledesma Macasaet, members in the affected areas can borrow up to their one-month salary credit, with a maximum limit of P20,000. It’s a great initiative to help you get back on your feet after such a challenging time.
Macasaet emphasized, “SSS will always be ready to assist our members in typhoon-affected areas. We want to assure them that in times of calamities, they can rely on SSS to provide them the needed financial assistance as they recover from Typhoon Carina.”
To qualify for this loan, here are the essentials:
- You need at least 36 monthly contributions, with six of those posted within the last 12 months before applying.
- You must be living in the declared calamity area.
- You should be below 65 years old at the time of loan application.
- You must have no final benefit claim like permanent total disability or retirement.
- You shouldn’t have any past due SSS Short-Term Member Loans.
- No outstanding restructured or calamity loans.
If you meet these criteria, applying is a breeze through your My.SSS account at www.sss.gov.ph. Once your loan is approved, the funds will be credited directly to your registered Unified Multi-Purpose Identification (UMID)-ATM Card or an active account with a PESONet participating bank.
Macasaet also mentioned that you could repay the loan over two years with 24 equal monthly installments and an annual interest rate of 10%.
“We hope that through the calamity loan assistance, we may be able to help typhoon-affected members as they recover from the adverse effects of Typhoon Carina,” Macasaet concluded.
Stay safe, and remember, SSS is here to support you through these tough times. Take care!