The state run Social Security System (SSS) is reoffering its members the Loan Restructuring Program that has penalty condo nation for their applicants that started last April 2 on all of its branches nationwide.
Under this program will cover the borrowers who has past due loans on emergency loan, study now pay later plan, salary loan, educational plan and calamity loan. The victims of Marawi siege and Mayon Volcano Eruption can also avail for loan restructuring program.
Dooc then explained that the reimplementation of the program is a response from the numerous requests of their members who were not able to avail the recent program. For this year, they are expecting to accumulate Php 1.2 billion from 250 000 members within 6 months.
The restructured loan this time is also more affordable with lower interest rate of 3% while penalties will overlook if you secured the full payment and will allow you for another loan after 6 months.
Troublesome Members won’t be AllowedSSS Regional Public Information Officer Mario Daray said that the borrowers who are still delinquent to pay their loans from the previous program will be disqualified for this year because their balances will reinstate to the recent amount. He also explained that the members who were not able to utilize the existing program will benefit for the loans.
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Daray then insisted that the default members must be verified residents from calamity stricken areas by the National Disaster Risk Reduction and advised its members that it will only last for 6 months so they must apply as soon as possible. They can download the application forms from the official website of SSS (sss.gov.ph).