SSS Salary Loan 2024 — How To Apply for Cash Solution Offer for Members

Guide on SSS Salary Loan 2024 Application for Members

SSS SALARY LOAN 2024 – You can check the steps below on how to apply for the cash solution offer for the Social Security System members.

In the Philippines, millions of Filipinos are members of the SSS or the Social Security System. One of the giants in the field of social insurance, the SSS has been in the service of the Filipino people for decades already.

SSS Salary Loan 2024
Photo Credit: Robinsons Land Corporation

Most of the SSS members are locally-employed individuals in the private sector and self-employed individuals. The state-run social insurance agency has also opened its membership for voluntary members, non-working spouses of SSS members, as well as overseas Filipino workers (OFWs).

Every month, the SSS members have to post a monthly contribution based on their salary to maintain an active and updated account to the state-run social insurance institution. This can qualify a member to the loans and benefits offered by the state entity.

Social Security System (SSS)
Photo Credit: Inquirer

One of the Social Security System loan offers is the Salary Loan, a multi-purpose cash loan offer that members may apply for to make a purchase, to pay for the utility bills, to travel, to pay for the tuition fee, to augment the medical expenses, etc.

The SSS Salary Loan loanable amounts are dependent on the total contributions posted by the member. The loan is payable within two (2) years or 24 monthly installments. The SSS Salary Loan interest rate applies until the loan is fully-paid.

There is an easy process in easy process in applying for the SSS Salary Loan 2024. Here are the steps that you may follow:

Step 1 – Here is the eligibility criteria set under the SSS Salary Loan offer:

  • has posted at least 36 monthly contributions in the SSS account
  • updated in the payment of the SSS contributions
  • 65 years old and below at the time of the loan application
  • currently employed, self-employed, or voluntary member of the Social Security System
  • has not received any final benefit from the SSS
  • has not been disqualified due to fraud committed against the SSS

Step 2 – Prepare the requirements for SSS Salary Loan 2024 application. Make sure you have the complete documents needed in applying for the loan offer so the loan processing can be done right away upon submission of the documents.

Step 3 – Go to a branch of the SSS nearest to you and submit the documentary requirements needed for application. Wait for a notification from the state-run social insurance institution regarding the result of the loan application process.

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