GUIDE: How Typhoon Tino victims can apply for an SSS calamity loan
Social Security System members directly affected by Typhoon Tino may borrow up to P20,000 under its calamity loan program.
SSS president and CEO Robert Joseph Montes de Claro explained in a statement that the loan assistance is meant to help qualified members in Cebu get quick access to emergency funds "for their essential needs in tandem with recovery efforts undertaken by national and local government."
“We understand how life-changing the devastation brought by Typhoon Tino is to workers and their families in Cebu. Our priority is to provide immediate, accessible support to help them get back on their feet,” he said.
The loan is available until Dec. 5 and will be payable within 24 months at a 7% annual interest rate.
To qualify, members must meet the following criteria:
- They should live or work in an area declared to be under a state of calamity.
- The member has to have at least 36 monthly SSS contributions.
- They should have an active online SSS account.
- Their account should have no past-due or restructured loans, nor should there be a record of fraud with the SSS.
- The member should be between 18 to 64 years old.
Here’s how to apply for the SSS Calamity Loan Program:
1. Log in to your online SSS account at the My.SSS portal.
2. On the menu, click “Loans.”
3. Drop-down options will appear; select “Calamity Loan.”
4. Then, for loan type, choose “CLP – TC TINO.”
5. You also get the option to select your preferred loan amount and disbursement bank.
“Once approved, loan proceeds will be credited directly to their enrolled disbursement account,” the statement read.
The death toll brought about by Typhoon Tino, which made several landfalls across the Visayas region and Palawan earlier this week, is currently at 188, according to a report released on Nov. 7 by the National Disaster Risk Reduction and Management Council. Majority of the deaths—139—were in Cebu.
In addition, NDRRMC reported 135 still missing—79 in Cebu, 39 in Negros Occidental, and 17 in Negros Oriental. A total of 96 people were injured.
