Definition

A short-term member loan program granted to eligible member-borrowers whose residence is in the areas affected and suffered losses or damages to their properties located in the calamity-stricken areas and shall be declared under state of calamity by National Disaster Risk Reduction and Management Council (NDRRMC).

Qualifying Conditions

A member is qualified to avail of this benefit provided that he/she:

1. Must be registered in the SSS Website (My.SSS facility) to facilitate filing of online application.
2. Must have at least thirty-six (36) monthly contributions, six (6) of which should be posted within the last twelve (12) months prior to the month of filing of application.
3. Must be residents of the calamity declared areas and suffered damages/loss to their properties.
4. Have not been granted any final benefit like permanent total disability or retirement. 
5. Must not have an outstanding Loan Restructuring Program (LRP) or Calamity Loan Assistance Program (CLAP), and Short-Term Member Loan Penalty Condonation Program (STMLPCP). 
6. If employed, the employer must certify the CLAP application thru the My.SSS facility.

Loan Details

Loanable Amount

The loanable amount shall be equivalent to one (1) Monthly Salary Credit (MSC) computed based on the average of the last twelve (12) MSC (rounded up to the nearest thousand), or the amount applied for, whichever is lower.

Repayment Term and Schedule of Payment

1. The loan shall be payable within two (2) years in twenty-four (24) equal monthly installments.
2. The loan amortization shall start on the 2nd month following the date of the approval of the loan.
3. Payment deadline shall be on or before the last days of the month following the applicable month.
4. In case the payment deadline falls on a Saturday, Sunday, or holiday, payment may be made on the next working day.

Interest Rate, Penalty and Service Fee

1. The service fee of 1% of loan amount is waived.

2. The loan shall be charged an interest rate of 10% per annum until fully paid, computed on a diminishing principal balance, and shall be amortized over a period of twenty-four (24) months.

3. Pro-rated interest from the date of loan granting up to the end of the month prior to first amortization month shall be deducted in advance from the loan proceeds. Please see sample illustration below:

4. Any excess in the amortization payment shall be applied to the outstanding principal balance.

5. Loan amortization not remitted on the due date shall bear a penalty of 1% per month. A delay of a fraction of a month shall be charged a full month penalty.

Other Conditions of the Loan

1. Existing Calamity Loan must be fully paid before the member can avail of future Calamity Loans of SSS.
2. Any overpayment on a previous loan shall be subject to validation of SSS, and if valid, shall be applied to the active loan, if any. If there is no active loan, it shall be refunded to the member-borrower upon his/her request.
3. Aggregate unpaid obligation equivalent to more than six (6) monthly amortizations shall result to loan default. The full balance of a defaulted loan shall become due and demandable. A defaulted account is subject to 10% interest per annum to be charged on the outstanding principal balance and 1% penalty per month on unpaid principal and interest until fully paid.

Loan Proceeds

The loan proceeds shall be released through any of the following:

1. Through Development Bank of the Philippines (DBP) Philippine Electronic Fund Transfer System and Operations Network (PESONet) Accredited/Participating Banks:

Active single account in any PESONet accredited/participating banks in the name of the member-borrower shall be enrolled in the Disbursement Account Enrollment Module (DAEM) and shall be used as mode of disbursement for CLAP application by accessing the member’s My.SSS account.

2. Through Unified Multi-Purpose Identification (UMID) – Automated Teller Machine (ATM) Card:

If with activated UMID-ATM, the loan proceeds shall automatically be credited to member-borrower’s account.

3. Through Union Bank of the Philippines (UBP) Quick Card:

Member-borrowers may opt to avail the card at selected SSS Branches with UBP Kiosk. The corresponding account number of UBP Quick Card must be enrolled in DAEM by accessing the member’s My.SSS account.

See How to Enroll an Account in the Disbursement Account Enrollment Module (DAEM)

How to Apply

The availment period for the assistance package will be up to three (3) months from the date of approval. The member-borrower must apply through his/her My.SSS account at the SSS website.