00:00Many places have been affected by the following typhoons.
00:05Some places have not yet fully recovered,
00:08and are in a state of disrepair.
00:10One of the things we always talk about during this time of calamity
00:14is the Calamity Loan.
00:17To guide our fellow citizens, that is what we will talk about.
00:21Ask Me, Ask Attorney Gabby.
00:23Attorney, who are the people who can apply for the Calamity Loan?
00:33Well, actually, there are three agencies of the government
00:35that offer the Calamity Loan or Emergency Loan.
00:38Of course, there are also many private financing companies
00:41that will offer it,
00:42but what's scary and certain is that the interest rates are higher,
00:47the approval period is longer
00:49because there are many more to examine and study
00:51before you are given the loan.
00:53So it's better for government agencies to approach during a time of calamity
00:58because the approval is faster,
01:00the interest rate is lower, usually 6% per annum,
01:04and the repayment period is longer.
01:07But usually, it also means that the amount you can borrow
01:12by way of emergency loan is lower.
01:13In GSIS, it's up to Php 20,000.
01:16In SSS, it's a one-month salary credit up to a maximum amount of Php 20,000.
01:22In Pag-ibig, it's up to 80% of the monthly membership savings.
01:26First of all, what are the requirements in Pag-ibig?
01:29You should be able to pay at least 24 monthly membership savings or MS
01:34or if not, the total savings is equivalent to this.
01:38You should have paid at least one MS within the last six months
01:42before the date of your loan application.
01:45You should also be a resident or working in an area which is declared as calamity-stricken.
01:50In SSS, the requirements are that you should have 36 monthly contributions.
01:56You should have paid six monthly contributions within the last 12 months
01:59before you applied for a loan.
02:01You should also be a resident of calamity-declared areas
02:04and have a pensala in your property.
02:08In GSIS, this is called an emergency loan.
02:11You should be a resident or an employee of the government office
02:14within the declared calamity area.
02:17You should also be in active service, not on leave or absence without pay.
02:21You should be up-to-date in paying existing loans
02:24and also in remitting mandatory social insurance contributions.
02:28If it's a calamity-hit area,
02:32you should be declared as under a state of calamity
02:35by the NDRRMC.
02:40You should also not have a pending administrative case or criminal charge.
02:45There may be other finer requirements,
02:49but these are the most basic requirements.
02:53Attorney, in other areas,
02:55you may not be able to recover from a calamity-hit area.
02:59How many times can you apply for a loan like this?
03:02You can apply again even if the previous loan has not yet been paid.
03:07In SSS, you should have fully paid the existing calamity loan
03:11before you avail a new calamity loan.
03:14In Pag-ibig, you can renew the calamity loan,
03:17but the outstanding loan balance of the existing calamity loan
03:21including accrued interest, penalties, and charges
03:24can be deducted from the newly acquired calamity loan.
03:28You can also avail a new calamity loan in GSIS.
03:31For example, after the earthquake earlier,
03:34GSIS said that those with existing loans
03:37can borrow up to Php 40,000
03:40to pay previous loans
03:42and to have a new fund of Php 20,000.
03:46This is also the amount available
03:48to pay for non-pending calamity loans in GSIS.
03:54So, those are the laws we will clarify
03:58for the peace of mind.
04:00Don't hesitate.
04:02Ask me.
04:03Ask Attorney Gabby.
04:04Keep safe, everyone.
04:12Why?
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04:22Thank you, Puso.
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