Marcos Jr. Speaks on SSS Emergency Loan Offer for Filipinos
SSS EMERGENCY LOAN – Amid the State of National Calamity in the Philippines, President Bongbong Marcos announced the availment of the offer.
The Philippines is currently under a national State of Calamity as declared by Marcos Jr. following the wrath of typhoon Tino and amid the looming super typhoon Uwan last month. #TinoPH caused massive flooding in Cebu and Negros that left at least 200 fatalities.
Several Filipino families lost their homes to typhoon Tino and super typhoon Uwan. The declaration of Marcos Jr. qualifies members of the social insurance giants to the GSIS Calamity Loan and the SSS Emergency Loan offers that were crafted to help Filipinos in times of natural disasters.
“Sa lahat ng ating kababayan na SSS member, meron akong magandang balita. Simula itong Disyembre na ito ay makakapagbigay na ang SSS ng tinatawag na emergency loan,” Marcos Jr. said.
Recently, Pres. Bongbong Marcos announced that the SSS Emergency Loan will be available for the members starting this December. According to him, under the offer, the interest rate will be as low as 7%. Furthermore, he also stressed that there will be a six-month moratorium, thus, the member-borrower will not be pressured to repay the loan right away.
According to Pres. Bongbong Marcos, he continues to coordinate with the SSS to find for alternatives of micro loan and emergency loan. Based on the video, he hopes that the SSS Emergency Loan offer will be able to help the Filipino people.
“Tuloy-tuloy naman po ang pakikipag-ugnayan ko sa SSS upang makahanap ng iba’t iba pang paraan magkaroon ng mas ligtas at makatarungan na alternatibo sa micro loan at emergency loan… Maganda po ‘to kasi imbes na pupunta kayo sa 5-6 at mapasubo sa malalim na utang, ay mayroon na kayong magagamit… Sana ito’y makatulong sa inyong lahat,” the President said.
Here are the qualifications set by the Social Security System under the loan offer:
- has at least thirty-six (36) monthly contributions, six (6) of which should be posted within the last twelve (12) months prior to the month of filing of application;
- has at least six (6) posted monthly contributions under the current coverage/membership type prior to the month of loan application for Self-Employed, Voluntary (including Non-Working Spouse), and Overseas Filipino Worker (SE/VM/OFW) members who are land based;
- has no past due SSS Short-Term Member Loans;
- a resident of the calamity declared areas and suffered damages/loss to their properties. A resident, for the purpose of CLAP, is one who has a home address or property at the calamity-stricken area;
- has not been granted any final benefit, i.e., permanent total disability or retirement;
- member-borrower must be registered in the SSS Website (My.SSS facility) to facilitate filing of online application;
- has no outstanding Loan Restructuring Program (LRP) or Calamity Loan Assistance Program (CLAP)