How Much Is the SSS Calamity Loan Amount 2024 for Qualified Members?
SSS CALAMITY LOAN AMOUNT 2024 – You can check the details here about the loanable amount under the Social Security System offer.
Do you want to take an extra mile in preparing against the unforeseen circumstances? One of the best moves is to make sure that your account to the Social Security System is active and updated. It has several loans and SSS benefits that you can turn to in times of need for financial solutions.
In case of a natural disaster and your place was left under a State of Calamity, you may turn to the SSS Calamity Loan offer. It can provide you wish cash that you can use in moving for the recovery from the impacts of the typhoon, earthquake, storm surge, etc.
Who are qualified to apply for the Calamity Loan offer? Here are the qualifications set by the Social Security System under its loan offer:
- has posted a total of 24 monthly contributions, three of which should be posted within the last 12-month period before the month of filing application
- 60 years old and below at the time of filing of application
- has not been previously granted a House Repair and/or Improvement Loan by the SSS
- has not been granted any final SSS benefit nor was refunded SSS contributions
- must be up-to-date in the payment of all other existing loans with the SSS
With regards to the SSS Calamity Loan amount 2024, it is equivalent to one monthly salary credit (MSC). The MSC is computed based on the average of the last 12 MSC’s posted by the member rounded up to the nearest thousand or the amount applied for by the member, whichever is higher.
The SSS Calamity Loan amount is payable for up to two (2) years. There will be 24 equal monthly installments in the repayment of the loan.
To apply for the offer, you must prepare and submit the requirements for SSS Calamity Loan application. The list of documents required depend if the filer is the SSS member or an authorized representative.
