Being a member of Social Security System (SSS) could not only prepare you for your retirement it could also help you in a case of financial emergency. Let us guide you on how to apply for SSS salary loan.
Follow the below information and procedures on how to apply for SSS salary loan
Check if you are eligible for SSS salary loan with the following:
- Must be either self-employed, employed, a voluntary member or an OFW
- Must be actively contributing for the last 6 months
- Must have at least 36 months contribution if you are applying for 1-month loan or 72 months contribution for 2 months loan.
- Must be under 65-years-old
- No record of disqualification due to fraud.
Below are the required documents that you need to submit
- Application form or the SSS form ISL-101
- SSS ID or E-6 acknowledgement card
- 2 valid IDs with signature with recent photo
Below is the step by step guide on how to process your SSS salary loan application
You can process it with different options:
- Visit any SSS office (main or regional office)
- Respective SSS representative at the Philippine embassy, for OFWs
- Member-borrower’s duly accomplished Member Loan Application
- Authorized Representative’s SS card or any two valid IDs both with signature and at least one with photo
- Letter of Authority (LOA) signed by both the member-borrower and member-borrower’s authorized representative
- Member-borrower’s SS card or any two valid IDs both with signature and at least one with photo.
- Online, through My.SSS account. You should see the SSS guide for creating an account.
- Snail mail or fax using the below information
Foreign Branch Expansion and Monitoring Department3/F SSS BuildingEast Avenue, Diliman, Quezon Cityor fax (632-435-9814)
Visit SSS website for more information by clicking here.
Note: One to two months loan are payable in 2 years with the annual interest of 10% per annum. A service fee of 1% from the proceeds of the loan and 1% interest per month for missed due payment. Salary deduction will be made month after the loan.