Who Is Eligible For SSS Loan?

How much is the first loan in SSS?

SSS loan amount SSS members with at least 36 monthly contributions can borrow an amount equal to their one-month salary up to P15,000.

Those with at least 72 monthly contributions are entitled to a two-month loan worth twice their salary up to P30,000..

How can I fill my SSS calamity loan?

Members must be registered at the My. SSS web portal on the SSS website at www.sss.gov.ph to apply for the loan. Here are other requirements to qualify for the SSS loan: have at least 36 monthly contributions, six of which should be posted within the last 12 months before the application.

How many months can I contribute to avail SSS loan?

All currently employed, currently contributing self-employed or voluntary member. For a one-month loan, the member-borrower must have thirty six (36) posted monthly contributions, six (6) of which should be within the last twelve (12) months prior to the month of filing of application.

How long is SSS calamity loan?

7. If release thru UBP Quick Cards: The loan proceeds shall be credited to member-borrower’s account within three (3) to five (5) working days from approval date of the loan. Member-borrowers may avail of UBP Quick Cards at UBP Kiosks located at selected 26 SSS Branches. 9.

What will happen if I did not pay my SSS loan?

The Lender Will Take Back Your Car or Home As a way to recover their losses, lenders will take back the loaned car or house when you fail to repay the loan. For example, if you availed of an SSS housing loan, the SSS will foreclose the property as soon as you’ve failed to make six monthly loan payments.

Is there SSS condonation program for 2020?

For employers who availed of the Contribution Penalty Condonation Program under SSS Circular No. 2019-004 and with approved installment proposal, their post-dated checks which fall due in February, March, April and May 2020 shall be deposited on June 15, 2020.

How much is the loanable amount in SSS calamity loan?

Loan Amount Members can borrow up to 80% of their Total Accumulated Value (TAV) subject to the terms and conditions of the program. Calamity Loan Interest rate is 5.95% per annum. The loan is amortized over 24 months, with a grace period of 3 months.

What is the maximum loan in SSS?

The maximum loanable amount is P2,000,000.00. The loan amount granted is the lowest amount based on the following factors: Appraised value of collateral of at least 70% but not to exceed 90%.

How much can I loan from Pag ibig?

Six Million PesosA qualified Pag-IBIG member shall be allowed to borrow an amount up to a maximum of Six Million Pesos (Php 6,000,000.00), which shall be based on the lowest of the following: The Member’s Actual Need, His Loan Entitlement Based On Capacity To Pay, The Loan-To-Appraisal Value Ratio.

What are the requirements for SSS loan?

Member-BorrowerMember 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.

How can I get SSS loan if unemployed?

To qualify for the SSS unemployment benefits program, you must meet the following criteria:Must not be over 60 years old at the time of unemployment. … Paid at least 36 months’ worth of monthly SSS contributions and 12 months have been paid in the last 18 months prior to job loss.More items…•

Is SSS calamity loan available now?

As per SSS President and CEO Aurora C. Ignacio, on a news briefing in late March, the calamity loan will be made available for all employed, non-delinquent SSS members nationwide.

How can I avail SSS loan for voluntary member?

To qualify for a salary loan, you should have posted at least six monthly contributions in the last 12 months before filing your loan application. You also shouldn’t have any existing loans with the SSS.

Can I apply SSS online?

You can apply online at the official SSS website, through the E-Service tab which will give you a confirmation email and transaction number. You can also do it at one of the SSS branches. This is the only option if you’re self-employed or on voluntary pay.

How can I apply for SSS loan?

You can apply for an SSS loan by filling up a loan application form that you can get from any SSS branch or office. Another way to apply is to do it electronically through your online account on the SSS website at https://sss.gov.ph.

What is monthly salary credit in SSS?

Monthly salary credit salary credit means the compensation base for contributions and benefits related to the total earnings for the month. (The maximum covered earnings or compensation is P16,000 effective January 1, 2014).

How do I know my SSS loanable amount?

How to Check your SSS Loanable Amount Online?Open your Internet Browser and type www.sss.gov.ph in your URL.Login using your User Name and Password. If you do not have an SSS Online Account yet, you may create one. Follow this step by step guide on how to create an SSS Online Account. After successfully loggin in, you will see SSS Menu in your profile.

Can I apply SSS calamity loan with existing salary loan?

This calamity loan must be fully paid before the member can avail of future calamity loans of SSS. 6. Other terms and conditions in the existing salary loan guidelines not inconsistent with the above provisions shall be applicable in this program.