HOW MUCH YOU CAN BORROW UNDER SSS CALAMITY LOAN 2O23 – You can check this guide for the Social Security System members on the loanable amount.
One of the major advantage of SSS members who have updated and active accounts is that they have an entity to turn to in times when natural disasters inevitably struck their place. It is an emergency preparation.
SSS Calamity Loan Loanable Amounts 2023 — A Guide for Members
Details about the SSS Calamity Loan Loanable Amounts 2023 for Member-Borrowers
SSS CALAMITY LOAN LOANABLE AMOUNTS 2023 – Here’s a guide on the borrowing amounts allowed under the Calamity Loan offer of the Social Security System.
Among the entities that Filipinos can turn to in times of calamity are social insurance institutions. One of them is the Social Security System or more popularly called SSS. Millions of Pinoys are members of the state-run social insurance institution.
Aside from the SSS Salary Loan, the Social Security System also offers a Calamity Loan that members can turn to in times of their place being struck by a natural disaster. A calamity can leave damages as well as loss of lives.
Under the SSS Calamity Loan 2023, the qualified members may obtain a cash loan that can help them in recovering from the impacts of the calamity. It can help in the revival of the business, in house repairs, or in simply making ends meet.
With regards to the SSS Calamity Loan Loanable Amounts 2023, 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 his/her application form for Calamity Loan.
The SSS Calamity Loan Loanable Amounts 2023 is payable for up to 24 months. To qualify for the offer, the member-borrower must meet the following eligibility requirements:
- SSS member must have 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
- SSS members must be living or working in area declared under a State of Calamity
- The member-borrower must not be a recipient of a final benefit from SSS
- The member-borrower must have no outstanding restructured SSS loan
There are a few requirements needed in applying for the SSS Calamity Loan offer. For member-borrowers who will personally process the loan, prepare the following documents for submission:
- duly-accomplished and signed SSS Calamity Loan Application Form
- Barangay Certification
- original copy of valid ID card or document
An authorized representative may process the loan application at an SSS branch in behalf of the member. In this case, here are the documentary requirements that he/she must bring:
- duly-accomplished and signed SSS Calamity Loan Application Form
- Barangay Certification
- Authorization Letter
- printed scanned copies of valid ID cards or documents of the OFW/seafarer member-borrower
- present original copies of valid ID cards/documents of the authorized representative
