Social Security System (SSS) opens its door for every beneficiary to avail of a 20k calamity loan amid COVID-19 pandemic.

SSS is now accepting loan applications and here are the guidelines and points to remember to avail Calamity Loan Assistance Program (CLAP).

Step 1: You must have a 36 months contributions with a specific address in the Philippines, those you receive a permanent and retirement benefits is excluded in the program.

Step 2: Make sure must have your personal Umid ID, Union Bank Cash Cards or secure your mailing address.

Step 3: You can go directly to any SSS open branches or you can register online. (https://www.sss.gov.ph/) or you can download SSS mobile app from Google playstore

Step 4: Make an account find the CLAP program fill in the necessary requirements of the loan and make sure all those details specially the account number and mailing address is correct to avoid any problems in the future. (UMID ATM, Union Bank Quick Card and mailing address).

According to SSS CEO, Aurora Ignacio” the estimated borrowers for the program will range up to 1.74 million.“

Ignacio, they have recognized the impact of the pandemic in the country especially on the economy, so extend the CLAP monthly amortization to 27 months with 3-month loan moratorium and 6 percent per annum interest rate.

She added members are advised to transact by means of online registration to avoid any face to face contact and maintain social distancing in public places to keep away from contamination from the virus. This may hopefully ease the financial burden of employees who suffered from retrenchment or any situation leave them financially unstable during these hard times due to the pandemic.

All members qualified can still apply up to September 2020.

Social Security System is a government own corporation with serve as an overseer for the welfare of private employee by providing them security thru financial assistance upon retirement by means of lifetime pension, loans and other benefits.

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