Details about the SSS Cash Loan Processing Fee for Application
SSS CASH LOAN PROCESSING FEE – Here is a guide on the service fee of the Social Security System (SSS) in applying for its Salary Loan.
The Social Security System (SSS) has millions of members across the nation. This state-run social insurance institution has gathered mostly individuals who are employed in the private sector and self-employed Filipinos. Meanwhile, there are also some overseas Filipino workers (OFWs) who are members of the government institution.
Every month, the SSS members submit a certain amount as savings to the institution. Accumulated savings may qualify a member to the benefits and loans offered by the state-run social insurance institution.
One of the offers of the institution is the Salary Loan offer or more popularly called the SSS Cash Loan. It is open not only to employed members of the state-run social insurance agency but as well as the self-employed members. It was crafted to help address the short-term needs of the members.
Do you want to check on the loanable amounts under this loan offer? Feel free to visit – SSS Cash Loan Amount You May Borrow Based on your Contribution – A Guide.
How much is the SSS Cash Loan processing fee? According to the state-run social insurance institution, the service fee is 1% of the loan amount and it will be deducted from the loan proceeds.
Thus, if you borrowed P5,000.00, your SSS Cash Loan processing fee is P50.00 and it will be deducted from your loan proceeds. For a guide on the application process and requirements, you may visit – SSS Cash Loan Application – Here’s How To Apply & How Much You May Get.
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You may also visit – Cash Loan to SSS? Here’s What You Need To Do To Apply for the Offer