Guide on SSS Cash Loan Renewal Loanable Amount
SSS CASH LOAN RENEWAL – Here is a guide on how much you will get if you will renew your Salary Loan to the Social Security System (SSS).
There are a lot of government entities in the Philippines that offers benefits and loan offers that are exclusive for its members. One of these is the state-run social insurance institution Social Security System or more popularly known as SSS.
Members of the SSS submit a monthly contribution to the agency. The members who have updated accounts may be eligible to avail the benefits and loans offered by the state-run social insurance institution. One of these is the Salary Loan offer or more commonly called as the SSS Cash Loan.
The SSS Cash Loan is open for members who have posted at least 36 monthly contributions. To check on how much you may borrow under it, you may visit – SSS CASH LOAN: Here’s the Loanable Amount Based on Your Total Posted Contribution.
If you have no existing loan and you want to apply for the cash loan offer, you need to prepare and submit the following documents for personal loan applications:
- duly-accomplished Member Loan Application Form
- SSS digitized ID or E-6 with any two (2) valid IDs (one of which with a recent photo)
- Postal ID
- Baptismal Certificate
- Tax Identification Number (TIN) Card
- Senior Citizens Card
- School ID
- Professional Regulation Commission (PRC) ID
- LTO Driver’s License
- Credit Card
- Health or Medical Card
- GSIS Card
- Seaman’s Book
- Company ID
- Voter’s Identification card/affidavit/Certificate of Registration
- ATM card with cardholder’s name or with certification from bank
- NBI Clearance
- Transcript of Records
- Certificate from:
- Office of Muslim Affairs
- Life Insurance Policy
- Office of Southern/Northern Cultural Communities
- Birth/Baptismal certificate of child/ren
- Certificate of Licensure/Qualification Documents/Seafarer’s ID and Record Book from Maritime Industry
- Certificate of Naturalization from the Bureau of Immigration
- Seafarer’s Registration Certificate issued by POEA
- Bank Account Passbook
- Pag-IBIG Member’s Data Form
- Overseas Worker Welfare Administration card
- Police Clearance
- Marriage Contract
If you have an existing loan account and you want to apply for SSS Cash Loan renewal, it is allowed if you have repaid at least 50% of your loan and more than half of the loan term has passed.
With regards to the loanable amount under the SSS Cash Loan renewal, the balance of the existing loan will be deducted from the loan proceeds of the new loan.
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