The SSS Emergency Loan Program (ELP) is intended to aid qualified SSS members that are victims of calamity and disaster. Qualified members are able to apply online via the My.SSS Member Portal without having to physically go to an SSS branch through the.
The application process includes determining the applicants’ eligibility, opening a verified disbursement account and electronically applying for the emergency loan.
Eligibility for SSS Emergency Loan
Applicants are required to be active SSS members and be employed, self-employed, voluntary members or overseas Filipino workers. At least 18 monthly contributions (including six contributions posted the last six months leading up to application) are required.
The registered addresses or works of the applicants shall at the same time be situated in an officially-declared calamity or disaster area. The applicant might not be eligible for certain SSS facts and issues which are not yet settled.
Eligible borrowers may be able to avail of as much as ₱20,000, repayable with interest rate of 7% per annum and a six-month payment moratorium, with the applicable Monthly Salary Credit.
Step-by-Step My.SSS Portal Guide
Check the steps given below to apply for a loan via the My.SSS Portal.
Step 1: Enroll Your Disbursement Account
To apply you must have a verified Disbursement Account Enrollment Module (DAEM) account. Log into My.In SSS click on E-Services and then pick DAEM.
Select a bank/e-wallet that is eligible and provide the necessary details about the account. They might also request that you upload proof showing you’re the account holder (account statement or acceptable proof document).
Step 2: Open the Emergency Loan Application
When your disbursement account is verified, return back to the My.SSS Member Portal. Click E-Services and then select the Emergency Loan Program application.
If this isn’t available, determine if you reside or work in an area that is under an existing official calamity proclamation.
Step 3: Check Your Loan Information
The amount of loanable that you can figure out will be equal to the contributions that you’ve posted and your Monthly Salary Credit. Before you proceed, review all your info, Registered disbursement account and contact details.
Additional care should be taken in reviewing the terms of the loan. Repayment is based on the information supplied, and would be 30 months in length, including 6 months where no regular amortizations are paid, followed by amortizations thereafter.
Step 4: Accept the Terms and Submit
Before submitting the application please read the terms of the Promissory Note and loan. Check and tick the boxes as needed and click Submit.
A confirmation screen must include a transaction or reference number. Please hold and follow up on registered email for any updates on the status of the application.
Your Quick Guide to Rules, Loans & Faster Services
Which Agencies Speed Up Thailand Projects?
Check out Thailand’s new FastPass system and participating agencies.
What Happens With Fake LTO Plates?
Find the latest fines, penalties, and impound rules.
How Can You Apply for SAFE?
Uncover the quick steps to apply through Virtual Pag-IBIG.
Which Loan Apps Were Blocked Recently?
Spot the lending apps affected by the latest SEC crackdown.
Which SSS Loan Is Better?
Compare SSS Loan Lite and Salary Loan rates and limits.
What Happens After You Apply?
Employed members may need to have permission from their employer, for which they have to obtain an employer certificate or statement of support via the My.SSS Portal Guide. Before the processing of SSS, you will be able to use the SSS Employer Portal. Applications by self-employed and voluntary and OFWs can be directly done to SSS processing.
As per information, the approved funds will be deposited in the DAEM account in around 3-7 working days or as per processing time, after the enrollment.
FAQs
What is the loan amount of my SSS emergency loan?
Available loans will not exceed the applicable Monthly Salary Credit and SSS eligibility of the eligible members.
What is DAEM?
DAEM is short for Disbursement Account Enrollment Module. It makes your verified bank account with SSS eligible for electronic loan disbursement, or your e-wallet with SSS verified is eligible for electronic disbursement.
What is the time of the payment?
The terms set is to be paid for 30 months inclusive of a time limit of 6 months for payments then regular monthly payments commence.
