Need cash after Typhoon Tino? SSS opens calamity loan program up to ₱20,000

National

UP TO ₱20,000 can now be borrowed by Social Security System (SSS) members who were affected by Typhoon “Tino."

The financial loan can be avail of through the state-run pension fund’s Calamity Loan Program launched Thursday, Nov. 6, to provide immediate financial assistance to affected Filipinos.

In a Philstar report, SSS President and CEO Robert Joseph Montes de Claro said the program was designed to give members “quick access to emergency funds.” He explained that qualified borrowers may take out loans at a seven percent annual interest rate, payable over 24 months, to help them recover from losses caused by the typhoon.

Applications for the Calamity Loan must be filed online through the My.SSS portal, with approved amounts directly credited to the member’s registered disbursement account.

To apply, members should log in to their My.SSS account, click “Loans” from the menu, select “Calamity Loan,” and choose “CLP - TC TINO.” They can then indicate the desired loan amount and select their preferred bank for disbursement before submitting the application.

To qualify, members must live or work in an area declared under a state of calamity, have at least 36 monthly contributions, maintain an active My.SSS account, have no past-due or restructured loans, be 18 to 64 years old, and have no record of fraud with the SSS.

The agency said the loan program for those affected by Typhoon “Tino” will remain open until Dec. 5.

A separate calamity loan window is also available for members affected by Tropical Storm Ramil in Roxas City and Sigma, Capiz, with applications accepted until Dec. 4.

According to the National Disaster Risk Reduction and Management Council, Typhoon “Tino” affected 2.1 million people across 32 provinces in eight regions, displacing over 432,000 individuals, many of whom are still in evacuation centers.

As of Thursday morning, the agency reported 81 deaths, 72 missing persons, and 81 injuries. The storm also caused about ₱6.33 million in infrastructure damage.

In response to the widespread destruction, President Ferdinand “Bongbong” Marcos Jr. placed the entire country under a state of calamity, allowing both national and local governments to mobilize quick response funds and fast-track recovery and rehabilitation efforts.(MyTVCebu)