Guide on SSS Salary Loan 2023 Details for Application
SSS SALARY LOAN 2023 – Here is an updated guide on how to apply for the Social Security System cash loan offer and the requirements for application.
One of the social insurance giants in the Philippines is the Social Security System. It is more popularly called SSS and millions of Filipinos are members of this state agency. In fact, there are also a lot of overseas Filipino workers (OFWs) who maintain an active membership with the state-run social insurance agency.
Every month, members of the Social Security System remit a certain amount based on their salary with the range set in SSS Contribution 2023 tables. Meanwhile, the SSS did not only open its membership for the employees of private companies in the Philippines but as well as the self-employed individuals. It is also open for voluntary members and the non-working spouses of SSS members.
The Social Security System offers different types of loans to its members. One of it is the SSS cash loan offer called the Salary Loan. It is open not only for the employed individuals but as well as the other members.
For the updated details about the SSS Salary Loan 2023, it is open for members of the state-run social insurance agency who have posted at least 36 monthy contributions in their accounts. This multi-purpose loan offer was crafted to address the short term needs of members for financial solutions.
With regards to the loanable amounts, the SSS members who have posted at least 36 monthly contributions may borrow an equivalent of their one-month basic monthly salary. Members who have posted at least 72 monthly contributions may borrow an equivalent of “twice the average of the member-borrower’s latest posted 12 MSCs, rounded to the next higher monthly salary credit, or amount applied for, whichever is lower”.
On the SSS Salary Loan 2023 interest rate, it remains at 10% per annum based on a diminishing principal balance. You can repay the loan for up to two (2) years or 24 months and the interest is implemented until the loan is completed.
There are only a few SSS Salary Loan requirements that you need to prepare in applying for the loan offer of the Social Security System. The loan processing may take only a few minutes if you will do it through your My.SSS account.
Meanwhile, if you want to do it personally at a branch of the SSS nearest to you, simply prepare your documents and submit the requirements to the SSS. Aside from the said cash loan offer, the state entity also offers SSS Calamity Loan and the SSS Housing Loan application.
how about for pensioner, can they also apply for SSS Loan amd how much could they avail and what is the teem ofmloan repayment, thank you
ofw ko first timer ko lang pero d ko maka apply ng kahit Anong loan daming hinahanap.. passport at employment contract .. pati id ng SSS d pa Rin ko mabigyan . daming gadtos pamasahi hiraf lakad . balik na lang uli ko abroad . pero d pa Rin ko nakapsg loan.. Paano na.