SSS pandemic calamity loan program open until Sept. 14

Arianne Merez, ABS-CBN News

Posted at Jul 01 2020 12:14 PM | Updated as of Jul 01 2020 03:07 PM

MANILA -- The COVID-19 pandemic calamity loan assistance program of the Social Security System (SSS) will be available for its members until Sept. 14, its president Aurora Ignacio said Wednesday.

The program, which started on June 15, has already granted loans amounting to P5.4 billion to 346,375 members, Ignacio said. Members can avail of loans up to P20,000.

"Tatlong buwan po inooffer itong calamity loan assistance program," she said in a virtual press briefing.

(The calamity loan assistance program is available for 3 months.)

"Available po ang assistance program na ito para sa mamamayan ng buong bansa na nangangailangan ng tulong para sa COVID calamity," she added.

(This assistance program is available for those who need help for the COVID calamity.)

SSS members who wish to apply for the loan program should have contributions in the last three years, six months of which should be posted within the last 12 months before the application for assistance.

Ignacio said applications can be done online using a member's account at the online portal of the SSS.

The loans are payable for 27 months, payment of which would start on the fourth month since the application, and have an annual interest rate of six percent.