Guide on How To Compute Your Loanable Amount Under the SSS Salary Loan
SSS SALARY LOAN – Here is a guide on how to compute your loanable amount based on your monthly contribution.
One of those government agencies that offers salary loans is the Social Security System. More commonly called as SSS, it is a social insurance giant in the Philippines.
Most members of SSS are employees in the private companies and sector. Some people have also applied for voluntary memberships to SSS and most self-employed individuals are also a member of it.
If you are an SSS member, you may be eligible to apply or avail its different offers, benefits, and services. One of them is the SSS Salary Loan.
The said SSS loan offer aims to help members cope with their short-term needs. It is a multi-purpose loan offer that can help you make ends meet, pay for the utility bills, fund an event, etc.
With regards to the loanable amounts under the said SSS Loan, it depends on your monthly contribution. The applicant-member must have posted at least thirty-six (36) monthly contributions.
Here is a guide on how to compute your loanable amount under the SSS Salary Loan:
- Add your twelve (12) latest posted monthly salary credits (MSCs)
- Divide the sum by 12 to get the average
- The result is your one-month salary loanable amount
If you have posted at least 72 monthly contributions to SSS, you may be eligible to apply for a two-month salary loan. For a guide on how to apply online, you may visit – SSS CASH LOAN – Can I Apply for this SSS Loan Offer Online?.
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