The Social Security System (SSS) announced today that members in areas devastated by recent tropical cyclones may avail of its calamity loan program until December 19, 2024.
SSS Officer-in-Charge Voltaire P. Agas said qualified members can apply for loans equivalent to their one monthly salary credit or up to ₱20,000.
Agas emphasized that the calamity loan aims to help affected members recover from the damage caused by tropical cyclones Kristine, Marce, Nika, Ofel, and Pepito.
Residents in areas declared under a state of calamity by the National Disaster Risk Reduction and Management Council (NDRRMC) are eligible to apply.
Declared areas include regions in Luzon, the Visayas, and Mindanao, such as Cavite, Isabela, Oriental Mindoro, Albay, Samar, and Cotabato, among others.
Members in additional areas that may later be declared under a state of calamity due to these cyclones will also be eligible for the loan.
To qualify, members must have at least 36 monthly contributions, six of which should have been posted in the last 12 months before the application.
They must also reside in a declared calamity area, have no overdue loans, and must be certified by their employer via the My.SSS facility for employed members.
Agas added that affected members may alternatively apply for an SSS salary loan, which offers loans of up to ₱40,000 for those with 72 monthly contributions.
Applications for both loan types can be submitted online through the My.SSS portal, with proceeds credited to the member’s registered accounts.
Members can repay the loans in 24 monthly installments at a low annual interest rate of 10 percent based on a diminishing balance.