Guide on SSS Conso Loan Interest Rate and Penalties for Members under the Program
SSS CONSO LOAN INTEREST RATE & PENALTIES 2025 – You can check here what will happen to the loans that will be consolidated under the program of the Social Security System.
Have you heard about the offer of the Social Security System that consolidates multiple short-term loans of members that are past due? Many Filipinos have already benefitted from the SSS Conso Loan Program and it might be your time to grab its benefits.
It is no secret to many people that a lot of members of the social insurance giant have existing SSS loans that are past due. If you short-term loans are past due or you have 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,” you might want to combine your loans into a single loan and deal with the interest and penalties based on your preferred mode.
The SSS Conso Loan Program is open to consolidate the Salary Loan, including Salary Loan Early Renewal Program (SLERP), Calamity Loan, Emergency Loan, Restructured Loan, and other STMLs depending on the social insurance giant. If you have several existing STMLs, it is best to deal with them now before they affect the total amount you will receive from SSS benefits when you need them.
The SSS Conso Loan Program bears several benefits. Here are the special features of the offer before checking on what will happen to the SSS Conso Loan interest rate and penalties:
- Upon full payment, all penalties will be condoned/waived
- Extended repayment terms
- No service fee
- Easy application process
- Restoration of good standing status with SSS
According to the Social Security System, with regards to the Conso Loan interest rate and penalties, the penalties will be consolidated and it depends if you will pay for it under a one-time payment or through installment.
SSS Conso Loan Interest Rate and Penalty
SSS Conso Loan Interest Rate
According to the Social Security System, a 10% interest rate per annum will be implemented under the SSS Conso Loan. It will be applied based on a diminishing principal balance and will be amortized based on the approved term until the loan is fully-paid.
SSS Conso Loan Penalty
With regards to the SSS Conso Loan Penalty, it is at 1% per month after the due date of the SSS Conso Loan amortization until the loan is fully-paid. Do you want to apply for the offer? There are a few requirements for the SSS Conso Loan application.