Parts of Metro Manila and Luzon are still recovering from the devastating effects of Typhoon Carina, known internationally as Gaemi. The relentless rains and subsequent flooding have led to the declaration of a state of calamity across the National Capital Region (NCR), as well as several provinces including Oriental Mindoro, Batangas, Cavite, Bataan, and Bulacan. To support recovery efforts, both the Social Security System (SSS) and Pag-IBIG Fund are offering calamity loans to their members. Here’s a guide on where and how to apply for these loans.
Social Security System (SSS) Calamity Loans
Loan Details and Eligibility
SSS members in affected areas can apply for a calamity loan up to PHP 20,000, equivalent to their one monthly salary. The loan is repayable over 24 months with a 10 percent annual interest rate.
To be eligible, members must:
- * Have at least 36 monthly contributions, including six in the past 12 months.
- * Reside in the declared calamity area.
- * Be under 65 years old.
- * Have no pending claims for disability or retirement.
- * Be free of overdue SSS Short-Term Member Loans and any outstanding restructured or calamity loans.
Application Process
Apply online through the SSS website (http://www.sss.gov.ph). The loan amount will be credited to your UMID-ATM Card or a PESONet bank account. A webinar about the calamity loans is scheduled for July 31 for further guidance.
Pag-IBIG Fund Calamity Loans
Loan Details and Eligibility
Pag-IBIG members can borrow up to 80 percent of their total Pag-IBIG Regular Savings, which includes personal and employer contributions plus dividends. The loan is repayable over 36 months with a lower annual interest rate of 5.95 percent. Members with existing multi-purpose loans will have their new loan amount adjusted accordingly.
To qualify, members must:
- * Have at least 24 monthly membership savings.
- * Be active with at least one membership savings in the last six months.
- * Not have any Pag-IBIG housing, multi-purpose, or calamity loans in default.
- * Provide proof of income.
Application Process
Applications can be submitted via Virtual Pag-IBIG, or through an employer or Pag-IBIG Fund branch once the program is officially open. Members will have 90 days from the state of calamity declaration to apply.
For those affected by Typhoon Carina, both SSS and Pag-IBIG Fund offer critical financial support through calamity loans. Understanding the requirements and application processes for each can help facilitate your recovery and provide much-needed relief during these challenging times.
