Guide on SSS Cash Loan Loanable Amounts & the Other Details
SSS CASH LOAN LOANABLE AMOUNTS – Here’s a guide on the amounts that you may borrow under the Social Security System (SSS) loan offer.
One of the state-run social insurance institutions in the Philippines is the Social Security System. More commonly called SSS, many Filipinos are members of the said state-run social insurance agency.
Most of the members of SSS are employees of the private companies in the country. The populace of self-employed members also take a huge part. Others are voluntary members of the agency.
Every month, the members of the social insurance institution submit a certain amount as member contribution savings. Accumulated savings can qualify a member to the benefits and loans offered by the social insurance agency.
One of the SSS loans that you may turn to is the SSS Salary Loan, a cash loan offer. It is open for members who have posted at least 36 monthly installments. How much are thee SSS cash loan loanable amounts?
The SSS cash loan loanable amounts depend on the total savings of the member. If you have posted at least 36 monthly savings, you may borrow an equivalent of your one-month basic salary. If you have at least 72 monthly contributions, you may borrow at least two months of your basic salary.
Do you want to try applying for the salary loan offer of the Social Security System? There are only a few documents that you need to submit for the application. For a guide on the process that you need to observe, feel free to visit – Apply for SSS Salary Loan: Simple Guide in Applying & What You Need to Submit.
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