Thursday, May 13, 2021

SSS opens online application for Covid-19 calamity loan


Latest Stories

PH in ‘new wave’ of HIV-AIDS infections – UN body

THE Philippines is experiencing a "new wave" in the number of HIV-AIDS (Human Immunodeficiency Virus - Acquired Immune Deficiency...

Robredo: Eid’l Fitr a reminder that ‘we are a single community’

VICE President Maria Leonor "Leni" Robredo on Thursday welcomed the celebration of the Eid'l Fitr, reminding Filipinos to "cherish"...

Metro Manila mayors ready to recommend next quarantine status to IATF

THE Metro Manila Council (MMC) will present its recommendation on the next quarantine status in the National Capital Region...

Signal No. 2 up in parts of Mindanao as ‘Crising’ intensifies into tropical storm–Pagasa

SIGNAL No. 2 is up in parts of Mindanao as "Crising" intensified into a tropical storm, the state-run weather...

Duterte accepts resignation of Nayong Pilipino Foundation exec— Nograles

PRESIDENT Rodrigo Duterte has accepted the resignation of Nayong Pilipino Foundation (NPF) Executive Director Lucille Malilong-Isberto, Cabinet Secretary Karlo...

THE Social Security System (SSS) has opened its Calamity Loan Assistance Program (CLAP) for members who are affected by the Covid-19 pandemic.

SSS President and Chief Executive Officer Aurora Ignacio said the SSS estimates around 1.74 million potential member-borrowers for the program.

Depending on the average of their monthly salary credit in the last 12 months, members may apply for a loan of up to P20,000.

“We recognize that the impact of Covid-19 is greater than other calamities we have faced in the past. With that in mind, we have extended the payment term of this particular CLAP to 27 months, inclusive of a three-month moratorium period, and have lessened the interest rate to six percent per annum,” Ignacio said.

Normally, CLAPs have a payment term of 24 months and an interest rate of 10 percent per annum.

To qualify for the loan, a member must have at least 36 monthly contributions, six of which should be posted within the last 12 months before the application; have a work or home address within the Philippines as reflected in the SSS database; have not been granted any final benefit such as total permanent disability or retirement; and have no outstanding loans under the Loan Restructuring Program or previous CLAPs.


Members must also be registered at the My.SSS web portal on the SSS website at to apply for the loan.

Qualified members may apply for the said CLAP until September 14.



Today's Front Page