Members in Carina-Hit Areas May Apply for SSS Calamity Loans
SSS – The Social Security System announced that its calamity loans are ready to assist the members living in areas hit by Typhoon Carina.
The heavy rains and strong winds brought by Typhoon Carina in the Philippines has triggered flood in several areas across the nation. The National Capital Region (NCR) is even under a State of Calamity now due to the impacts of the storm.
Houses and livelihoods were damaged by Typhoon Carina which intensified the southwest monsoon or the habagat. Fatalities were also recorded in several cities and municipalities.
The Metro Manila Council placed the NCR under a State of Calamity. The Social Security System members who are living in areas declared under the said declaration may apply for the SSS Calamity Loans.
This is one of the major advantages of maintaining an active account to the Social Security System. You have a safety net that you can turn to in times of natural disasters not to mention that these events are unpredictable and inevitable.
Social Security System President and Chief-Executive-Officer (CEO) Rolando Ledesma Macasaet announced that the SSS Calamity Loans are now open for members who are victims of Typhoon Carina.
To qualify to apply for the SSS Calamity Loan, the member-applicant must:
- be living or residing in the declared calamity area
- have posted at least 36 monthly contributions, six of which must be posted within the last 12 months before the month of filing of application
- not more than 65 years old at the time of the loan application
- be having no past due SSS Short-Term Member Loans
- have not received a final benefit claim such as permanent total disability or retirement
- be having no outstanding restructured loan or calamity loan
According to Macasaet, under the SSS Calamity Loans, a member may borrow up to Php 20,000. It is payable for up to 24 months with an annual interest rate of 10%.
How to apply for the loan offer? You just have to prepare the requirements for the SSS Calamity Loan application. You may also apply for the loan offer through the online portal of the state-run social insurance entity My.SSS account via www.sss.gov.ph.