However, retirees who already have loans under the Pension Loan Program (PLP) are excluded from the three-month early annuity. The loan is payable in equal monthly instalments for 24 months or two years. It has an interest rate of 10% per year, and the service fee of 1% of the loan amount is already waived. Normalcy is a must when natural disasters such as floods, storms, earthquakes, etc. hit us. There are so many difficulties we have to go through when we encounter disasters. Our ceilings are leaking, our cars need to be fixed, we have to make up for the income we missed because we were away from the office – a bunch of wasted things. In such a devastating situation, the SSS calamity loan is useful. Calamity Loan sss is a loan specially designed for people who need help when they are in crisis due to natural disasters. • To be eligible, relevant members must meet the following requirements: • You have a My.SSS account with www.sss.gov.ph; • have at least 36 monthly contributions, six of which must be sent within 12 months prior to the month of application; • A resident of a disaster area declared by the NDRRMC who suffered damage or loss to their property as a result of Typhoon Odette; • have not received a final benefit, such as permanent total disability or retirement; • not have an ongoing credit restructuring program (LRP) or CLAP; • If employed, the member`s employer must certify the CLAP application via the My.SSS online function. The deadline to apply for the Disaster Loan, or CLAP, is February 26, 2020. (For people affected by typhoons Quinta, Rolly, Ulysses). Read this article.
The SSS will also provide its members with a loanable amount of up to P 1 million for direct loan for housing repair and/or improvement, subject to reassessment every five years. Home repairs are beaten with interest rates of 8% per annum on loans below 450,000 pesos and 9% per annum above 450,000 pesos. He clarified that the proceeds of this loan program are not certain to be generated by online bank loans, as SSS officials still make deals with several banks, “but definitely the benefits that have been previously approved can be transferred to members` bank accounts at any time.” What would you say if I already cancel, can I still apply for the Calamity loan? Members eligible for this loan are those who have paid dues for 36 months, six months of which should have been made in the last 12 months prior to the submission of the loan application. Under CLAP, qualified members may receive a loan amount equal to a monthly salary credit (MSC) calculated based on the average of their last 12 monthly salary credits (MSC), rounded up to the nearest thousand or the amount they requested, whichever is less. Due to the COVID-19 pandemic, the SSS Calamity Loan is now available to all SSS members nationwide. In addition, SSS no longer requires applicants to provide documentation to verify that their site is in a state of disaster. In June 2020, the Disaster Loan Assistance Program (CLAP) opened its doors to those affected by COVID-19. CLAP has a repayment period of 24 months and an interest rate of 10% per annum. No pre-interest will be charged on this loan. A 1% service fee will be withheld and deducted from the loan amount.
The system (SSS) or social security provides qualified members with continuous cash assistance during natural disasters and even public health emergencies. The impact of the coronavirus pandemic on our livelihoods and employment has been drastic. The government has even announced that Filipinos can apply for a disaster loan to help those in need recover. Here are some of the things you should keep in mind. However, the measures were only a drop in the bucket given the number of families and the state of the economy. In order for the government to step up its efforts to ensure Filipinos are protected, they reopened the GSIS Calamity loan. The loan program was opened on September 28 and ends on December 27, 2020. Here`s what you need to know about the GSIS Calamity 2020 loan. 4 years ago, I made a contribution to the SSS. Can I apply for a catastrophe loan.
I have been working in the restaurant as a cashier for 8 months, but the employer always deducted our benefits, but they did not pay for our construction. The launch of this program took place on June 15, 2020. According to SSS, they have completed their system for the so-called loan program, where a member can borrow up to PHP20,000. Interested applicants can submit their loan applications to the SSS Main Office Loan Department for those in the NCR or to the Housing and Acquired Asset Management Departments of SSS San Pablo for those in southern Luzon, SSS Cebu for those in Central Visayas, SSS Bacolod for those in Western Visayas, SSS Davao for those in southern Mindanao. SSS Cagayan De Oro for those in northern Mindanao and SSS Zamboanga for those in western Mindanao. In addition, the repayment period is five, 10, 15 or 20 years plus the six-month moratorium.