Guide on SSS Conso Loan Program 2025 Features & Application
SSS CONSO LOAN PROGRAM 2025 – Members of the Social Security System has an option to settle their delinquent loans with waived penalties.
The Philippines has two (2) giants in terms of social insurance — the GSIS or the Government Service Insurance System and the SSS or the Social Security System. Let us talk about the latter.
Most employees in the private sector and self-employed individuals are under a mandatory membership to the Social Security System. Undeniably, while an SSS membership may cause a deduction from your monthly income, it widens your financial options in the face of many circumstances.
The Social Security System has several SSS benefits for its members — in times of sickness, maternity, disability, unemployment, or even death of the member. Aside from the benefit offers, the social insurance giant also got several loan offers.
The loan offers of the Social Security System includes the SSS Salary Loan or also called the SSS cash loan, the SSS Housing Loan, and the SSS Calamity Loan among others. However, truth be told that there might be instances when a member’s loans will stuck up.
In this case, the social insurance giant has prepared the SSS Conso Loan Program. It was crafted by the state-run institution to provide the members with existing loans a chance to combine and settle their delinquent loans. It is ready to combine the following existing loans under a single loan:
- Salary Loan, including Salary Loan Early Renewal Program (SLERP)
- Calamity Loan
- Emergency Loan
- Restructured Loan
According to the Social Security System, other short-term loans may be included under the SSS Conso Loan Program as determined by the social insurance entity. The STMLs must be past due during the application for the loan program. Under the offer, all penalties will be condoned or waived upon the full payment of the Conso Loan.
With regards to past due STMLs that may be covered under the SSS Conso Loan Program, these are short-term loans with unpaid obligations “consisting of principal, interest, and penalties equivalent to more than three (3) monthly amortizations, or the loan has remaining unpaid balance after its maturity”.
Do you want to know what will happen to the interest and penalties under the SSS Conso Loan Program and the requirements in applying for it?