SSS Cash Loan Loanable Amount for Locally Employed Members – Here’s a guide…

SSS CASH LOAN LOANABLE AMOUNT – Are you a locally employed member of the SSS and you want to know how much you may borrow under the Salary Loan offer?

If you are a member of the Social Security System (SSS) who is locally employed and is currently in need of cash to address some financial needs, you may be eligible to apply for the Salary Loan offer of the state institution. Below, you can check the details about the SSS cash loan loanable amount for locally employed members.

SSS Cash Salary Loan for Locally Employed Members – A Complete Guide

Guide on the SSS Cash Salary Loan Offer for the Employed Members

SSS CASH SALARY LOAN – Here is a guide on the loan offer for the employed members of the Social Security System (SSS).

Members of the Social Security System (SSS) who are locally employed may apply for its cash loan offer most especially in times of financial need. You can check the complete guide below regarding the details of the loan offer and the application process.

SSS Cash Salary Loan
Photo Credit: SSS

For locally employed members of the SSS to qualify for the loan offer, the borrower must:

  • have posted a total of at least 36 monthly contributions
  • be currently employed
  • be working for an employer with an updated records of payments of contributions
  • have not been granted a final benefit
  • be under 65 years old at the time of the loan application
  • have not been disqualified due to fraud committed against the SSS

There are documents needed in applying for the SSS Cash Salary Loan. You need to prepare the following documents for loan application:

  • Member Loan Application Form
  • SSS digitized ID or E-6 (acknowledgement stub) with any two valid IDs, one of which with recent photo:
    • Unexpired Driver’s License
    • Professional Regulation Commission (PRC) ID card
    • Passport
    • Postal ID
    • School or Company ID
    • Tax Identification Number (TIN) card
    • Seaman’s Book Membership card issued by private companies Overseas Worker Welfare Administration card
    • Senior Citizens card Voter’s Identification card/Affidavit/Certificate of Registration ATM card
      • with cardholder’s name; or
      • with certification from bank, if without name
    • Credit card Fisherman’s card issued by BFAR GSIS card/Member’s Record/Certificate of Membership Health or Medical card ID card issued by LGUs (e.g. Barangay/Municipal/City)
    • ID card issued by professional association recognized by PRC
    • Birth Certificate
    • Baptismal Certificate
    • Marriage Contract
    • NBI Clearance

How much is loanable under the offer? The actual amount may vary depending on your total contributions to the agency. You may visit — Borrow from SSS Cash Loan? Here’s How Much You May Get under this Offer….

With regards to the interest rate, the SSS charges 10% annually until the loan is fully paid. The maximum loan term under the offer is 24 months.

You can make your applicatio via the SSS Website: My.SSS. Your application must be certified by your employer.

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You may also read – SSS Late Payment Penalty for Delayed Payments under Salary Loan

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