SSS Launches Special Loan Program for Earthquake and Typhoon Victims
The Social Security System (SSA) has launched a special loan program for members affected by the recent 6.9-magnitude earthquake in Cebu and typhoons Mirasol, Nando, Opong, and the enhanced southwest monsoon. The program, which opens on Oct. 2, aims to provide financial assistance to those residing or working in areas under a State of Calamity.
To qualify, members must reside or work in calamity-stricken areas, which include Ilocos Norte, Cagayan, Oriental Mindoro, Romblon, Masbate, Aklan, Maguindanao del Sur, and Cebu. They must also have at least 36 posted contributions, with six within the last 12 months, and maintain good standing with no past-due loans. Applicants must be under 65 years old, not receiving final benefits, and have an active My.SSS online account for loan filing.
The loan program offers qualified members a maximum of P20,000, with proceeds credited directly to their enrolled bank accounts upon approval. The revised guidelines have shortened the activation time and lowered the annual interest rate to seven percent, making it more accessible and affordable for affected members.
The SSS special calamity loan program is set to begin on Oct. 2, providing much-needed financial aid to members affected by the recent earthquake and typhoons. With revised guidelines and a lower interest rate, the program aims to support those in calamity-stricken areas as they recover and rebuild.
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