In such cases, the authorized representative will be required to present the following additional documents: authorization letter and printed scanned copies of the OFW’s valid IDs plus original valid IDs of the authorized representative. SSS members who lost their jobs due to the enhanced community quarantine amid COVID-19, for their part, can avail of the SSS' one-time payout under unemployment benefit program which pays the member P20,000 at the maximum, depending on the salary rate. SSS requires these additional documents from OFW-borrowers: Authorization letter; Printed scanned copies of the OFW’s valid IDs plus original valid IDs of the authorized representative; You can download the application form, Barangay Certification, and authorization letter here. Fernan Nicolas, SSS' concurrent head for public affairs and special division, said that this benefit will be rolled out in two weeks and can be accessed by SSS members by filing an application online. Published: February 5, 2018 | Updated: November 9, 2020 | Posted by: Venus Zoleta | Government Services, Published: February 5, 2018 Updated: November 9, 2020 Posted by: Venus Zoleta | Government Services. SSS imposes an annual interest rate ranging from 8% to 11% depending on the loan amount. In light of the recent earthquakes that have hit and are still affecting Mindanao, thousands of families have already been displaced and are in need of immediate support from the government and from local organizations to help them get through each day until such time that they are able to get back on their feet once again. are accepted. Let’s get to know the features of each: SSS members and pensioners who are residing in calamity-stricken areas declared under a. by the National Disaster Risk Reduction and Management Council (NDRRMC) are qualified under the Calamity Assistance Package (CAP) as a form of support and assistance to members in times of calamities. ","acceptedAnswer": {"@type": "Answer","text": "The SSS salary loan is payable in 24 monthly installments within two years. SSS members who can avail of the unemployment, Nicolas said, should have at least paid SSS contribution for 36 months. }}, In the absence of these primary IDs, two secondary IDs (e.g., OWWA card, Seafarer’s Registration Certificate, etc.) Borrowers are required to pay an inspection fee of PHP 500 and an application fee worth half of the 1% of loan amount or PHP  500, whichever is higher. Capella Hotels and Resorts Jobs in Singapore, “Bayani Family Care” Insurance for OFWs Launched, How to Apply for SSS Calamity Assistance Package, How to Pay Pag-IBIG MP2 Contributions Online via Credit Card, How to Make SSS Transactions Online and Checkless Disbursements, How to Claim SSS Retirement Benefits While Living Abroad. "acceptedAnswer": {"@type": "Answer","text": "Two types of loanable amounts are available to prospective borrowers: a one-month salary loan and a two-month salary loan." ALSO READ: Pag-IBIG Member Program & Benefits, Your email address will not be published. Because calamities do not strike on a regular basis (and we hope it stays that way), these facilities are only valid within three (3) months from the date of occurrence. OFWs are eligible for an SSS salary loan if they’re below 65 years old with at least 36 posted monthly contributions, including six contributions paid within the last 12 months before the month of loan application. Microsoft may earn an Affiliate Commission if you purchase something through recommended links in this article. OFW-members can choose to receive their loan proceeds through check delivered by the post office or a prepaid cash card from an SSS partner-bank. Click the box below to connect with our financial advisors. When is the Right Time to Get a Credit Card? The two-month loan is twice the average of the borrower’s latest posted MSCs that are rounded to the next higher MSC or the desired loan amount, whichever is lower. Submit original copies of the following documents: Note: OFW Members may appoint an authorized representative to file an application on their behalf. How long is the housing loan repayment period? Disclaimer: This article was created for information-sharing purposes only. Note: For OFW members, you may appoint a family member as your authorized representative, but they must present a special power of attorney (SPA) to transact on your behalf. Ginagawan po namin ng paraan na maipasok ito sa savings account nila,” Nicolas said. This means that if you apply in January, you may start paying the loan in … Looking for a financial product? If you drive a private vehicle, you know how…. Authorized representatives who are filing a loan application on an OFW’s behalf must present the same IDs mentioned above, plus their own primary ID or secondary IDs. : One-month salary credit (MSC) based on the average of the last 12 MSCs or the total amount of damage, whichever is lower. Thank you for visiting! Many people, from multimillionaires to corporate employees, have it…. Philippine Government Websites. As for SSS pensioners who receive their pension through their savings account, Nicolas said their pension benefit for April has already been deposited as of April 1. Calamity Loan Assistance Application Form, One (1) primary ID (UMID, driver’s license, passport, PRC card, or Seaman’s Book) or two secondary IDs (PhilHealth ID, company ID, senior citizen ID, voter’s ID, TIN card, etc.). SSS imposes an annual interest rate ranging from 8% to 11% depending on the loan amount. The one-month loan is the average of the borrower’s latest 12 posted monthly salary credits (MSCs) that are rounded to the next higher MSC or the desired loan amount, whichever is lower. and suffered losses or damages to properties. Get Your Portrait Drawn by a Local Artist, Zimbabweans mend shabby dollar notes amid economic crisis, You can now monitor your pregnancy with a smartwatch. The launching of this program was on June 15, 2020. “By second week of April po, puwede na po iyang ma-avail. SSS Calamity Loan (Covid 19) is a special loan, not available anytime for all members. Continue reading to know more…. Just visit the nearest SSS branch and submit all the required documents for the housing loan[3]. If you need more information or assistance in your SSS salary loan or housing application as an OFW, you can send an email to ofw.relations@sss.gov.ph or call one of the SSS toll-free numbers. The applicant must be able to provide sufficient proof of income. Required fields are marked *. with SSS (Loan Restructuring Program and Calamity Loan Assistance Program). "@type": "FAQPage", {"@context": "https://schema.org", We are still building this site to become the number one portal for Overseas Pinoy workers around the globe. Repayment begins in the second month after the loan date. Nicolas then assured SSS members that they can still apply for salary loan even amid the enhanced community quarantine by logging on to sss.gov.ph. For those affected by calamities, these should be able to give you the much-needed boost to help you and your family get back on your feet. “Ito po ang ayuda natin para makapagsimula sila ulit,” he said. At this point, you probably know what a credit card is.