Republic of the Philippines

SOCIAL SECURITY SYSTEM

DISCLOSURE STATEMENT
MEL-01519(04-2021) ON LOAN/CREDIT TRANSACTION
CALAMITY LOAN
(As Required under R.A 3765 Truth in Lending Act)

SS Number: 02-1250814-1
Name of Borrower: RUEL LAMBANISIO CABUSAO
ER ID Number: 03-9020508-1
ER Name: KINDEN PHILS CORPORATION
ER Address: 5F ODC INTERNATIONAL PLAZA SALCEDO LEG VILL MAKATI CITY

CALAMITY LOAN DETAILS

1. LOAN AMOUNT P20,000.00
2. OTHER CHARGE(S)/DEDUCTION(S) P268.49
a. Service Fee (1% of loan amount) P0.00
b. Advance Interest P268.49
c. Balance of previous loan as of 10/12/2023 21:57:44, if any P0.00
3. NET PROCEEDS OF LOAN(item 1 less item 2) P19,731.51
4. SCHEDULE OF PAYMENTS

Applicable Month Due Date Amount Outstanding

Principal
Amortization Interest Principal Balance
P 20,000.00
1 Dec-23 31-Jan-24 P 922.90 P 166.67 P 756.23 P 19,243.77
2 Jan-24 29-Feb-24 P 922.90 P 160.36 P 762.54 P 18,481.23
3 Feb-24 31-Mar-24 P 922.90 P 154.01 P 768.89 P 17,712.34
4 Mar-24 30-Apr-24 P 922.90 P 147.60 P 775.30 P 16,937.04
5 Apr-24 31-May-24 P 922.90 P 141.14 P 781.76 P 16,155.28
6 May-24 30-Jun-24 P 922.90 P 134.63 P 788.27 P 15,367.01
7 Jun-24 31-Jul-24 P 922.90 P 128.06 P 794.84 P 14,572.17
8 Jul-24 31-Aug-24 P 922.90 P 121.43 P 801.47 P 13,770.70
9 Aug-24 30-Sep-24 P 922.90 P 114.76 P 808.14 P 12,962.56
10 Sep-24 31-Oct-24 P 922.90 P 108.02 P 814.88 P 12,147.68
11 Oct-24 30-Nov-24 P 922.90 P 101.23 P 821.67 P 11,326.01
12 Nov-24 31-Dec-24 P 922.90 P 94.38 P 828.52 P 10,497.49
13 Dec-24 31-Jan-25 P 922.90 P 87.48 P 835.42 P 9,662.07
14 Jan-25 28-Feb-25 P 922.90 P 80.52 P 842.38 P 8,819.69
15 Feb-25 31-Mar-25 P 922.90 P 73.50 P 849.40 P 7,970.29
16 Mar-25 30-Apr-25 P 922.90 P 66.42 P 856.48 P 7,113.81
17 Apr-25 31-May-25 P 922.90 P 59.28 P 863.62 P 6,250.19
18 May-25 30-Jun-25 P 922.90 P 52.08 P 870.82 P 5,379.37
19 Jun-25 31-Jul-25 P 922.90 P 44.83 P 878.07 P 4,501.30
20 Jul-25 31-Aug-25 P 922.90 P 37.51 P 885.39 P 3,615.91
21 Aug-25 30-Sep-25 P 922.90 P 30.13 P 892.77 P 2,723.14
22 Sep-25 31-Oct-25 P 922.90 P 22.69 P 900.21 P 1,822.93
23 Oct-25 30-Nov-25 P 922.90 P 15.19 P 907.71 P 915.22
24 Nov-25 31-Dec-25 P 922.90 P 7.68 P 915.22 P .00
Total P 22,149.60 P 2,149.60 P 20,000.00
5. EFFECTIVE INTEREST RATE 10.47% per annum
6. CONDITIONAL CHARGES MAYBE IMPOSED
a. Continuing Interest of 10% per annum against Outstanding Balance after the loan term.
b. Penalty of 1% per month against unpaid loan amortization.

This is a system-generated Disclosure Statement on Loan/Credit Transaction and does not require a signature from SSS.
 TERMS AND CONDITIONS FOR CALAMITY LOAN ASSISTANCE
PROGRAM (CLAP)

(SSC Res. No. 521-s.2022 dated 09 August 2022)

A. COVERAGE OF THE PROGRAM

Members who are residents of the calamity-stricken areas as declared and may be declared by the
National Disaster Risk Reduction and Management Council (NDRRMC) or as declared by the
Sangguniang Bayan/Panlunsod/Panlalawigan and who suffered losses or damages to their
properties located in the said calamity-stricken areas.

B. ELIGIBILITY REQUIREMENTS
To avail of the program, the members:
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 have at least six (6) posted monthly contributions under the current
coverage/membership type prior to the month of loan application for Self-Employed,
Voluntary (including Non-Working Spouse), and Overseas Filipino Worker (SE/VM/OFW)
members who are land based.
4. Must be residents of the calamity declared areas and suffered damages/loss to their
properties. A resident, for the purpose of CLAP, is one who has a home address or
property at the calamity-stricken area.
5. Have not been granted any final benefit, i.e., permanent total disability or retirement.
6. Must not have an outstanding Loan Restructuring Program (LRP) or Calamity Loan
Assistance Program (CLAP).
7. If employed, the employer must certify the CLAP application thru online (My.SSS facility).

C. AVAILMENT PERIOD
The availment period shall start on 15 AUG 2023 until 14 NOV 2023.

D. LOAN AMOUNT
The loan 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.

E. 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 day 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.
Illustration:
Applicable Month Payment Deadline
December 2021 31 January 2022
January 2022 28 February 2022
February 2022 31 March 2022
… and so on … and so on
5. Payment shall be made at any SSS Branch Offices with payment facility, SSS-accredited banks, or SSS
authorized payment centers.

F. SERVICE FEE, INTEREST AND PENALTY

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.
Sample Illustration:
Loan date: 18 January 2022
First amortization month: March 2022
Loan amount: Php 18,000.00
Interest from 19 January to 28 February 2022:
Php 18,000.00 x 10% x 41 days /365 = Php 209.1
Php 209.19 shall be deducted from loan proceeds.

4. Any excess in the amortization payment shall be applied to the outstanding principal balance.
5. Loan amortization not remitted on 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

G. OTHER CONDITIONS
1. The member must apply for the Calamity Loan Assistance Program thru the SSS website
by accessing his/her My.SSS account.
2. This calamity loan must be fully paid before the member can avail of future calamity loans
of SSS.
3. 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.
4. 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 charged on the
outstanding principal balance and 1% penalty per month on unpaid principal and interest
until fully paid.
5. If with activated UMID-ATM, the loan proceeds shall automatically be credited to member’s
account.
6. If release thru UBP Quick Cards, the loan proceeds shall be credited to member-borrower’s
account. Member-borrowers may avail of UBP Quick Cards at UBP Kiosks located at
selected 26 SSS Branches.
7. If release thru PESONet accredited banks, the loan proceeds shall be credited to member-
borrower’s nominated/enrolled bank account.
8. Other terms and conditions in the existing salary loan guidelines not inconsistent with the
above provisions shall be applicable in this program.

H. RESPONSIBILITIES OF EMPLOYER
1. The employer shall be responsible for the collection through payroll deduction and
remittance to the SSS of the amortization due on the employed member’s calamity loan
assistance.
2. In case the employed member-borrower is separated voluntarily (e.g., retirement or
resignation) or involuntarily (e.g., termination of employment or cessation of operations of
the company) from the company, the employer shall deduct the total balance of the loan
from any benefit/s due the employee and shall remit the same in full to SSS.
3. The employer shall report to the SSS the effective date of separation from the company
and the unpaid loan balance of the employed member-borrower, through the collection list,
if the benefit/s of the employed member-borrower is/are insufficient to fully repay his/her
loan.
4. The employer shall require a new employee to secure from the SSS an updated statement
of his/her account, deduct the amortization due from his/her salary and remit the payment
to SSS.

I. RESPONSIBILITIES OF MEMBER
1. The member-borrower shall notify the Member Services Section of the nearest SSS branch
office of any change in his/her contact information or by logging in to his/her My.SSS
account thru the SSS website or mobile application.
2. A member-borrower who transfers employment shall secure from the SSS and submit to
his/her new employer an updated statement of account of any outstanding loan balance
with SSS and allow his/her employer to deduct from his/her salary the corresponding
amortization due, including any interest/or penalty for late remittance.

J. DEDUCTION OF UNPAID LOAN FROM BENEFITS

 In case the member fails to immediately pay the outstanding balance, the arrearages/unpaid loan,
as well as the interest and penalty thereon, shall be deducted from the benefits being claimed by the
member, as follows:
• For employed member - final benefits (total disability/retirement/death)
• For self-employed/voluntary member - short-term benefits (Sickness/Maternity/Partial
Disability) or final benefits (total disability/retirement/death)

R.A.3765, OTHERWISE KNOWN AS "TRUTH IN LENDING ACT"

A DISCLOSURE STATEMENT ON LOAN TRANSACTION SHALL BE ISSUED BY SSS TO THE
MEMBER-BORROWER UPON APPROVAL OF HIS/HER CALAMITY LOAN ASSISTANCE PROGRAM
APPLICATION.