Guide on SSS Cash Loan Loanable Amounts for Qualified Members
SSS CASH LOAN LOANABLE AMOUNTS – Here’s a guide on how much you may get under the Social Security System Salary Loan offer.
If you are a member of the Social Security System, one of the biggest state-run social insurance institutions in the Philippines, you have an entity that you can turn to in times of financial need. The state institution actually has several offers.
If in need of cash to be used in several purposes, you may apply for the SSS Cash Loan offer. It was crafted to aid the members in times of short-term financial needs. To qualify for the offer, the SSS member must meet the following eligibility criteria:
- 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
With regards to the SSS Cash Loan loanable amounts, it depends on the total monthly contributions posted by the member-borrower. There are two (2) categories – 36 to 71 total monthly savings posted and at least 72 total monthly savings.
| 36 to 71 total monthly savings posted | at least 72 total monthly savings |
| you can borrow up to an equivalent of your one-month basic monthly salary. | you can borrow up to “equivalent to twice the average of the member-borrower’s latest posted 12 MSCs, rounded to the next higher monthly salary credit, or amount applied for, whichever is lower” |
There are documents that must be submitted in applying to the SSS Cash Loan offer. Here are the documentary requirements under the offer:
- 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
You may apply for the SSS Cash Loan offer online for a more convenient way of obtaining money. There are easy steps for online loan application to SSS through its portal, My.SSS.
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