Guide on SSS Calamity Loan 2025 Features & Application
SSS CALAMITY LOAN 2025 – You can check here a guide on the features and how to apply for the Social Security System offer.
It is now rainy season in the Philippines once again. Unfortunately, truth be told that more and more areas now are experiencing flooding even after a little rain. Typhoons can make the situation even more dreadful.
Typhoons are among the natural calamities that usually visit the Philippines. In the history of the country, there were storms that have caused both the loss of lives and the damages to houses, establishments, and livelihoods.
In times of natural calamities, there is an edge for the members of the Social Security System. More popularly called SSS, the social insurance giant has several loans that the members may turn to.
Aside from the SSS Salary Loan, the Social Security System also has the SSS Calamity Loan offer. It is designed to provide funds for qualified members of the social insurance giant who are affected by natural calamities.
Who are qualified to apply for the SSS Calamity Loan? Here are the qualifications set by the social insurance giant under the loan offer:
- has posted at least thirty-six (36) monthly contributions, six (6) of which should be posted within the last twelve (12) months prior to the month of filing of application
- registered in the SSS Website
- has at least six (6) posted monthly contributions under the current coverage/membership type prior to the month of loan application for Self-Employed, Voluntary (including Non-Working Spouse), and Overseas Filipino Worker (SE/VM/OFW) members who are land based
- residents of the calamity declared areas and suffered damages/loss to their properties
- has not been granted any final benefit, i.e., permanent total disability or retirement
- without outstanding Loan Restructuring Program (LRP) or Calamity Loan Assistance Program (CLAP)
- without past due SSS Short-Term Member Loans
With regards to the loanable amount under the SSS Calamity Loan offer, it “shall be equivalent to one (1) Monthly Salary Credit (MSC) computed based on the average of the last twelve (12) MSC (rounded up to the nearest thousand), or the amount applied for, whichever is lower”.
The loan proceeds either through the Unified Multi-Purpose Identification (UMID) – Automated Teller Machine (ATM) Card or Philippine Electronic Fund Transfer System and Operations Network (PESONet) Accredited/Participating Banks. The account must be enrolled in the DAEM.
The loan is payable within two (2) years or 24 monthly installments. According to the social insurance giant, the 1% service fee is waived under the offer and the first loan amortization will begin on the 2nd month after the loan is approved.
With regards to the interest rate under the Calamity Loan offer, it will be 10% per annum. The interest rate is implemented on a diminishing principal balance until the loan is fully-paid.
To apply for the loan offer, there are requirements under the SSS Calamity Loan that you need to prepare and submit to the loan provider. You may also apply for the loan through the My.SSS Website, or thru the MySSS App.