Loan Amount Members can borrow up to 80% of their Total Accumulated Value (TAV) subject to the terms and conditions of the program. Calamity Loan Interest rate is 5.95% per annum. The loan is amortized over 24 months, with a grace period of 3 months.
Is calamity loan for Pag-Ibig still available?
A member can have an existing Pag-IBIG Fund MPL and still apply for Calamity Loan, as long as the member is updated with the payment of monthly contributions prior to the enhanced community quarantine done on 16 March 2020.
Is salary and calamity loan the same?
The calamity loan assistance is separate from the regular salary loan. Members with outstanding salary loans in SSS can still avail of the calamity loan. Based on SSS data, more than 41,000 are potential member-borrowers from the declared areas with average monthly salary credit pegged at P10,000.
How can I check my SSS calamity loan?
Online through the SSS Member Portal. A page showing details of your membership will be displayed. From the list of options on the menu, point your cursor to ‘Loans’ and then a drop-down menu will show up. Click ‘Loan Status/Loan Info’ to show the details of your current loan application (see the screenshot above).
Will SSS calamity loan affect salary loan?
If you wish to file for a salary loan application, may we inform that any outstanding short-term loan (e.g. calamity loan, salary loan) balance in the SSS records will be deducted to the current salary loan proceeds, subject to its existing guidelines.
What is the amount of the SSS calamity loan?
What is the SSS Calamity Loan? Offered by the SSS or Social Security System, the SSS Calamity Assistance Program (CLAP) is for calamity-stricken members who are in need of financial aid. Below are the features and fees of this loan assistance program. Loan amount: Up to PHP 20,000 depending on your average monthly salary credit
What do you need to get a calamity loan?
You must be an actively contributing member residing in an area declared by the Office of the President or the Local Sanggunian under a state of calamity, with at least twenty-four (24) monthly membership savings (MS) and sufficient proof of income to qualify.
What is the interest rate on a calamity loan?
The Calamity Loan carries the lowest interest rate in the market of 5.95 5 percent per annum. 5 How do I pay my Calamity Loan? The loan is payable within 24 months and comes with the initial payment due on the 3rd month after the loan release.
Can you get SSS and Pag-ibig calamity loans?
However, unlike other government-issued loans, SSS and Pag-IBIG calamity loans are special types of loans that can’t be availed anytime and anywhere. They’re released only to members in areas declared under the State of Calamity within a limited period.
