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SSS Calamity Loan – Who Qualifies
In my previous post about SSS calamity loan, I mentioned about the basics there is to know. Here in this follow up post, I would like to put emphasis on the question who qualifies for the loan.
Below is also where you can see the terms and conditions of the Social Security System of the Philippines before a qualified member may avail of the SSS calamity loan.
Who Qualifies for Calamity Loan? (Source: SSS.Gov.Ph)
1. A currently employed, self-employed or voluntary member who is a resident of a calamity area as covered by Presidential Proclamation or as declared by the National Disaster Coordinating Council (NDCC) or the concerned Local Government Unit (LGU).
2. He must have paid at least a total of 24 monthly contributions throughout his membership, including two monthly contributions within the one-year period prior to filing date.
3. He has not yet been granted a refund of contributions, retirement or total permanent disability benefits.
4. He must be up-to-date in the payment of all member loan obligations, including salary loan, calamity loan, emergency loan, stock investment loan, privatization fund loan, special educational loan for vocational and technical students, special educational loan for Y2K, conversion training, member assistance for the development of entrepreneurship (MADE) and housing loan granted through the SSS, National Home Mortgage Finance Corporation (NHMFC) and Home Development Mutual Fund (Pag-IBIG).
SSS Terms and Conditions
1. The amount of calamity loan shall be granted only to the extent that the loan being applied for plus the member’s total outstanding loan balance at the time of application shall not exceed P50,000, except those of member assistance for the development of entrepreneurship (MADE) and housing loans.
2. His employer, if any, must be up-to-date in contributions and loan remittances.
3. He has not been disqualified by the Social Security Commission (SSC) for having filed a fraudulent loan application with the SSS.
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