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SSS Calamity Loan – Loanable Amount
If you already know that you qualify for SSS calamity loan and have the necessary requirements ready including the application form, the next thing to know is the loanable amount. Of course you have to know if your calamity loan is enough to cover for the expenses that you will need to recover from the tragedy.
Below are a few facts directly taken from the Social Security System (SSS) website to let you know how much you expect to pay in the duration of the whole program of this type of SSS loan.
- A member may avail of a calamity loan of P8,000.
- A member with an existing calamity loan may avail of another calamity loan, provided that his total calamity loan availment does not exceed P10,000.
- The outstanding balance of any earlier calamity loan will not be deducted from his new loan.
So I hope that these 3 facts about your SSS calamity loan makes it clear what to expect regarding application matters and the arrival of your SSS calamity loan cheque. If you ask me where you can encash the check, I say it can be done in any PNB branch duly authorized by the SSS or best is to ask from the SSS officer where to encash it before you buzz off their office. SSS loan for for calamity is ISL 101.