Guide on the SSS Calamity Loan 2023 Application Process
SSS CALAMITY LOAN 2023 – You can check the steps below on how to apply for the Social Security System loan offer and the requirements.
Maintaining an active and updated account with the Social Security System, more popularly called SSS, is all for the members benefit. It is an assurance that you have an entity that you can turn to in times of need for financial assistance.
To maintain an active and updated account, it is important to check the SSS Contribution Table 2023 updates from time to time to make sure you are paying the right premium. In return, you may avail the benefits and loans offered by the SSS — one of them is the SSS Calamity Loan 2023.
The SSS Calamity Loan 2023 is open for members who are residing in a calamity-stricken area. The loanable amount under the said SSS Calamity Loan offer depends on certain factors but the state-run social insurance institution has percentage basis.
The amount borrowed can be repaid for up to 24 months. The SSS Calamity Loan interest rate will be applied until the loan is fully-paid by the member-borrower. There is an easy process in applying for the offer and you may follow these steps below:
Step 1 — Check your eligibility for the SSS Calamity Loan offer.
The Social Security System has set a list of standards for eligibility to the loan offer. To qualify for the loan offer, the member-borrower must be:
- 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
Step 2 — Prepare the requirements.
Gather the requirements for SSS Calamity Loan 2023 application. The set of documents needed depends if the member-borrower will file and process the loan application or an authorized representative will do it in behalf of the member.
Step 3 — Submit the documents.
Go to a branch of the Social Security System nearest to you. Wait for an update from the SSS regarding the status of your loan application.
