DAVAO CITY – The Social Security System has made available its Calamity Loan Program or CLP to SSS members in Davao Oriental.
On October 10, doublet earthquakes (one measuring 7.4 magnitude and followed by another with magnitude-6.8) struck an area off the coast of Manay town in the province. Data from the Office of the Civil Defense revealed that the two quakes affected 786,314 persons in Davao Oriental.
SSS President and Chief Executive Officer Robert Joseph Montes De Claro said the Calamity Loan Program (CLP) aims to give timely financial support to SSS members living or working in the earthquake-affected areas.
Qualified members can avail of calamity loans of up to P20,000 at a lowered interest rate of 7% per annum. Applications can be filed online through their My.SSS account and approved loans will be credited directly to the member’s enrolled bank account.
To qualify for the CLP, members must:
- Reside or work in an area declared under the State of Calamity;
- Have at least 36 monthly contributions, with at least six posted within the last 12 months before filing. Individually paying members must have paid six contributions under their current membership type;
- Have an active My.SSS account;
- Have no past due loans or outstanding restructured loans;
- Have not been granted any final benefit;
- Be of legal age and under 65 at the time of application; and
- Have not been disqualified due to fraud against the SSS.
Employed members are reminded that their employers must be updated on SSS contributions and loan remittances to qualify.
Mona Lorraine Tombo, regional communications officer of SSS Davao, said those interested in availing of the CLP can do so through the SSS online portal. “No need to visit branches unless there are record concerns,” Tombo said. (PIA/RGA with reports from SSS)
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