SSS Salary Loan – How Much Cash You Can Borrow If You Have Existing Loan

Guide on How Much You Can Borrow Under the SSS Salary Loan Amid Having Existing Loan

SSS SALARY LOAN – Here is a guide on how much you can borrow under the salary loan offer of Social Security System if you have an existing loan.

One of the giant social insurance institutions in the Philippines is the Social Security System or more commonly called as SSS. It is where most employees of private companies and self-employed individuals are members of.

The SSS got a lot of services and offers for its members. Among it are the different kinds of loans which are undeniably beneficial most especially during emergency cases and in making ends meet.

The social insurance institution offer the SSS Salary Loan. It is open for those members who have posted at least twelve(12) monthly salary credits. Under this offer, you may renew even if you have an existing loan.

Based on the official website of the Social Security System, as long as you have paid at least 50% of your existing loan, you may apply for a renewal. Another condition set is that at least 50% of the term of the current loan has lapsed.

Do you want to know how much you can borrow under this loan offer? You may visit – SSS LOANABLE AMOUNT: How Much Is Loanable Under Salary Loan.

If you are after renewing an SSS Salary Loan, the proceeds of the loan may not exactly be the amount that you applied for. How much cash you can get from this loan will have something to do with the outstanding balance of your existing loan.

The SSS noted that the amount you can get is “any amount greater than or equal to zero as long as the outstanding balance on the previous loan is deducted”. A service fee of 1% may also be applied on the loan application.

Are you planning to renew your loan? You may visit an SSS branch regarding your purpose. On the other side, if you have no existing loan and you want to apply, you may visit – SSS SALARY LOAN: How To Apply.

Thank you for visiting our website. We hope we have helped you with regards to this matter. You may keep coming back for more informative guides.

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