SSS Calamity Loan – The Social Security System (SSS) calamity loan is a special type of loan that aims to provide financial assistance to its members who are affected by natural disasters, such as typhoons, earthquakes, and other calamities. The loan is intended to help members recover from the financial setbacks caused by these calamities.

This type of loan is subject to interest, which is currently set at 6% per annum. This means that you will need to pay back more than the amount you borrowed, so be sure to factor in the interest rate when deciding how much to borrow

How to apply for the SSS Calamity Loan?

To apply for the SSS calamity loan, you can follow these steps:

Log in to your SSS account
Log in to your SSS account through the SSS website (www.sss.gov.ph).
Click on the “Apply for Calamity Loan”
Click on the “Apply for Calamity Loan” button under the “E-Services” tab.
Fill out the Calamity Loan Application form
Fill out the Calamity Loan Application form with the required information, such as your personal details, employment information, and calamity-stricken address.
Review and Submit
Review your information and click on the “Submit” button.
Wait for the confirmation message
Wait for the confirmation message from the SSS regarding your calamity loan application. This message will include the loanable amount and the estimated date of your loan release.
Claim your SSS Calamity Loan
Once your loan application is approved, you can claim your loan proceeds through any SSS-accredited bank or SSS branch. You will need to present a valid ID and your SSS ID or UMID card.

Who is eligible for the SSS Calamity Loan?

To be eligible, you must meet the following requirements:

You must be an active SSS member who has paid at least 36 monthly contributions, six of which should have been paid within the last 12 months before the loan application.
You must not have any outstanding SSS loans, as well as other benefits that are in default, such as retirement, disability, or death benefits.
You must have a home address that is located in an area declared by the government as a calamity-stricken area.
You must not have availed of any other calamity loan programs from other government agencies or financial institutions.

What are the Computation of Loanable Amounts and Terms?

The loanable amount for the is up to one month’s worth of your average salary credit (AMSC), based on your total earnings for the last 12 months prior to your loan application. The loanable amount ranges from PHP 1,000 to PHP 20,000.

The loan term is 27 months, with an interest rate of 6% per annum. The first payment is due on the fourth month after the loan release date, and the succeeding payments are due on the same date every month thereafter.