SSS Salary Loan Interest Rate & the Maximum Loan Term

Guide on SSS Salary Loan Interest Rate Per Annum & the Loan Term

SSS SALARY LOAN INTEREST RATE – Here’s a guide on the interest rate implemented by the Social Security System (SSS) per annum and the maximum term.

The Social Security System or more commonly known as SSS is one of the biggest social insurance institutions in the Philippines and many Filipinos are members of the said institution. Most of the members are individuals who are working in the private sector.

Most individuals who work in the public sector or the government are under the Government Service Insurance System or more commonly called GSIS. There are some people who are members of both GSIS and SSS after a transfer of employment between the two (2) fields.

Both the GSIS and the SSS have offers that are exclusive for their members only. In the case of the latter, it has benefit offers and loans.

One of the SSS loans that members may avail is the SSS Salary Loan offer. It was crafted to serve the short-term needs of members for cash. You may apply for it to cope with the expenses, to get your car repaired, to travel, to fund a special event, etc.

Do you want to check on the loanable amounts under this offer? Feel free to visit – SSS Salary Loan: Minimum & Maximum Loanable Cash Amounts.

The SSS Salary Loan interest rate per annum is as low as 10%. It is also based on a diminishing balance. If you borrowed Php 8,000.00 under the said loan offer, the interest would be Php 800.00 in a year. With regards to the maximum loan term, you may pay for your loan for up to 24 months or two (2) years.

The SSS has set a few requirements or qualifications in applying for its loan offer. You may visit – SSS Personal Salary Loan: Who Are Qualified to Apply For It.

Thank you for visiting Moneysense.ph and allowing us to help you with your concerns. We hope that we got your queries answered. You may check on other articles on our website.

You may also visit – SSS LOANS: 3 SSS Loan Offers For Members & How To Apply For Them