SSS Cash Loan Late Payment Penalty — Here’s Guide on Fine Set If You’ll Miss to Pay On-time

Guide on SSS Cash Loan Late Payment Penalty If You Will Not Pay On-Time

SSS CASH LOAN LATE PAYMENT PENALTY – The Social Security System set a penalty for borrowers who will miss to pay their dues on-time.

The Social Security System (SSS) offers a cash loan to its qualified members in the form of the SSS Salary Loan. It is open for members who have posted at least 36 monthly contributions and have no bad records.

In applying for the SSS Salary Loan offer, the following documents must submitted to the state-run social insurance agency:

• duly-accomplished Member Loan Application Form
• SSS digitized ID or E-6 with any two (2) valid IDs (one of which with a recent photo)
  • Postal ID
  • Baptismal Certificate
  • Tax Identification Number (TIN) Card
  • Senior Citizens Card
  • School ID
  • Professional Regulation Commission (PRC) ID
  • LTO Driver’s License
  • Credit Card
  • Health or Medical Card
  • GSIS Card
  • Seaman’s Book
  • Company ID
  • Voter’s Identification card/affidavit/Certificate of Registration
  • ATM card with cardholder’s name or with certification from bank
  • NBI Clearance
  • Transcript of Records
  • Certificate from:
    • Office of Muslim Affairs
    • Life Insurance Policy
    • Office of Southern/Northern Cultural Communities
    • Birth/Baptismal certificate of child/ren
    • Certificate of Licensure/Qualification Documents/Seafarer’s ID and Record Book from Maritime Industry
    • Certificate of Naturalization from the Bureau of Immigration
  • Seafarer’s Registration Certificate issued by POEA
  • Bank Account Passbook
  • Pag-IBIG Member’s Data Form
  • Overseas Worker Welfare Administration card
  • Police Clearance
  • Marriage Contract

Do you want to check on the loanable amounts under the cash loan offer? To check on the borrowing amounts allowed under the loan offer, you may visit — SSS Cash Loan Loanable Amounts – Here’s How Much You May Borrow under the offer.

It is important to pay the monthly amortization on time. There is an SSS cash loan late payment fee in case you will miss to pay your monthly loan due on-time.

With regards to the SSS cash loan late payment penalty, the government agency set it at 1% monthly until it is fully paid. If you have an existing salary loan offer, you may apply for the renewal.

To check on the renewal of the cash loan offer, feel free to visit — Renew SSS Salary Loan – Here’s How Much You May Get from SSS Cash Loan Renewal.