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For comments, concerns and inquiries contact: International Toll-Free Nos. How can I avail SSS loan? First things first, you need to know if you’re eligible for an SSS salary loan.
You must fall under all of the following criteria to be eligible for the SSS salary loan: 1. You must be a currently employe self-employed or voluntary member. Your employer, if any, must be updated in the payment of contributions. You must not be more than years old at the time of application.
You must have not been granted final benefits, such as death, retirement or total permanent disability. For personal loan applications at the SSS office, you should provide two valid IDs.
But since you will be applying for the SSS loan online , there’s no need to present. See full list on techpilipinas. Nowadays, you can apply for an SSS salary loan using your computer or mobile device, and you don’t need to submit documents and IDs to SSS when doing so. To apply for an SSS salary loan online, make sure that you have a My.
If you don’t have a My. SSS account yet, go here to. Only current SSS members can register for My. The SSS salary loan is payable within two yearsin monthly installments. A complete breakdown of your payables can be found in the Disclosure Statement.
The loan amortization starts in the second month after the date of the loan approval. The payment due date or deadline will be on the last day of the month following the applicable month. If the payment deadline is a Saturday, Sunday or holiday, you can pay on the next working day. You can pay your amortizations at any SSS office, SSS -accredited bank, authorized payment center, or online payment servicelike GCash.
Member-borrowers must use their payment reference numbers (PRN) when paying. SSS charges an interest of per annum (year) based on the diminishing principal balance, until your loan is fully paid. In addition, there is a service fee which will be deducted from the loan amount.
Any excess payments will be applied to the outstanding principal balance, which means that you can pay your loan in advance. As a member-borrower, it’s your obligation to pay your dues on time. But sometimes life gets in the way and you might fail to repay your loan.
Don’t worry though because SSS has contingency measures in place in case of loan default. A loan default happens if you fail to pay your amortizations for more than months. If that happens, the full balance of your defaulted loan will become due. For self-employed and voluntary members, the unpaid loan will be deducted from his or her short-term benefits such as sickness, maternity or disability benefits. If the member-borrower dies, becomes disable or retires, the unpaid loan including interests and penalties will be deducted from the corresponding benefit (death, disability or retirement).
You can then use the loan to pay debts or even start a new business. It’s not much but it certainly helps in difficult times. Be sure to repay the loan on time to avoid any penalties and the possibility of defaulting on your loan. For more information about the SSS salary loan, visit the SSS website. A cash loan granted to an employe currently- paying self-employed or voluntary member.
You only need to login to your SSS Online Account and you no longer need to submit any document in SSS Branch. What to do when my Employer does not remit my SSS Contributions, Loans 6. But if you become delinquent and failed to pay your SSS Loan , you may wait for SSS LOan Condonation so that you may pay your SSS Loan without Penalty. E-Services menu function. Qualifications for the Loan Application Members who are qualified for this loan are those who have paid contributions for months and six months of these should have been made within the last months before the loan application is submitted. We Found the Best Online Lenders for You.
SSS Account, an employe currently-paying self-employed and voluntary members can have a direct access to SSS services and perform fast online transactions. Type in your SSS User ID and password. The login process is needed whenever you want to view your personal records such as your SSS contributions, loan balance, and benefits eligibility online.
NOTE: The salary loan submitted online by an employed member will be directed to the employer’s My. Login to your account. Make sure that you are logging in as Member, not as an.
X Research source The loan application requires you to enter identification and employment information. Go to the Social Security System Official Website. The website works best with Internet Explorer Browser Version 11.
Simply input your login details.
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