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PIA Press Release
2009/10/17

SSS opens loans to calamity victim members

by Joseph B Zambrano

Baguio City (17 October) -- Security System (SSS) is now accepting an early renewal of salary loan for members who are affected of the typhoon Pepeng that has caused many damages in Cordillera and the rest of Northern Luzon.

SSS Vice President for Northern Luzon, Luis Olais announced that members who have paid 50 percent of their previous salary loan are qualified to avail.

He also informed that SSS is also accepting housing repair and improvement loan, which shall be subject to the approved guidelines on paying capacity, collateral-loan rate and existing documentary requirements.

Olais added that those who can avail of repair or improvement loan program should be an active member of SSS who have at least 12 months continuous contribution or at least 24 months contributions and whose properties are located in the Cordillera Administrative Region.

SSS members have until December 31, 2009 to file their application. The maximum loanable amount is P300,000.00 with an interest rate of nine percent per annum and the maximum term of the loan is 20 years, Olais explained.

Olais further said that SSS member claimant should submit accomplished application for housing loan together with the required documents.

Many of SSS members have houses damaged by typhoon Pepeng, so our office is extending help through our salary, repair and improvement loans. Members should take advantage of it, Olais said. (PIA) [top]

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