Bee TV 7
SSS BUTUAN OPENS CALAMITY LOAN ASSISTANCE PROGRAM APPLICATION FOR MEMBERS AFFECTED BY COVID-19
BUTUAN CITY – The spokesperson of Social Security System (SSS) Butuan Pepito Lao Jr., confirms the agency is now accepting application for the Calamity Loan Assistance Program until September 14, 2020, for members who are affected by the COVID-19 pandemic.
The member has to have up to 36 months or 3 years contribution with no prior benefits claim such as Permanents Total Disability or Retirement and without existing calamity loan to avail the program.
The loan amount shall be equivalent to 1 monthly salary credit computed based on the average of the last 12 monthly salary credit which is at a maximum of P20,000.
Furthermore, the calamity loan has a lower interest rate of 6 percent, payable within 7 months. The loan amortization will begin in the fourth month from the approval date of the application.
The member must be registered at My.SSS web portal on the SSS website to apply for the loan. No other documents required.