Guide on the SSS Calamity Loan Amount 2023 for Members in Areas Struck by Natural Disaster
SSS CALAMITY LOAN AMOUNT 2023 – Here are some details on how much a member of the Social Security System may get under the offer.
Across the Philippines, there are millions of Filipinos who have active and updated memberships to the Social Security System. More popularly called SSS, it is one of the giants in the field of state-run social insurance institutions in the country.
Members of the SSS submit a monthly contribution based on the SSS Contribution Table 2023. The government entity also has overseas Filipino workers (OFWs) as well as voluntary members that passed the qualifications it has set.
SSS members who have updated and active accounts may be eligible for the loans offered by the state-run social insurance agency. One of these is the SSS Calamity Loan that members can turn to when their place is struck by a natural calamity.
To qualify for the SSS Calamity Loan offer, the member-borrower must meet the following criteria:
- member must have updated payment contributions and loan remittances
- has posted at least 36 monthly contributions with at least six (6) contributions posted within the last 12 months prior to the month of the filing of loan application
- residing in area declared under a State of Calamity
- has not received a final benefit from the Social Security System
- has no outstanding restructured loan under the SSS
The loanable amount under the SSS Calamity Loan 2023 offer is “equivalent to one (1) monthly salary credit (MSC) computed based on the average of the last 12 MSCs or the total amount of damages as certified by the member” in the loan application form.
The SSS Calamity Loan 2023 loanable amount is rounded up to the nearest thousand or whichever is lower. The loan application must be filed within three (3) months since the declaration of the State of Calamity.
To apply for the loan offer, you must prepare and submit the requirements for SSS Calamity Loan 2023 application. The required documents depend on who will process the loan application — the member-borrower himself/herself or an authorized representative of the member. Wait for an update from the SSS after you filed for your application.