Guide on SSS Salary Cash Loan Loanable Amounts
SSS SALARY CASH LOAN – Here is a guide on how much you may borrow under this loan offer of the Social Security System (SSS).
If you are a member of the Social Security System (SSS) with an active and updated account, you surely have an entity to turn to in times of need for assistance. The state-run social insurance institution offers benefits and loans for its members.
The SSS Salary Cash Loan is one of the loans offered for the members. It was crafted to help the members with their short-term needs. If you have posted at least 36 monthly contributions, you can borrow an equivalent of one month of your basic salary. If you total posted contributions is at least 72 months, you can borrow an equivalent of twice of your basic monthly salary.
How to apply for this SSS loan offer? To be eligible for loan application, the member-borrower must have posted at least 24 monthly savings in her account and has no bad loan records with the social insurance institution. There are also documents that must be submitted in applying for the loan. Gather the following:
- For personal loan applications:
- duly-accomplished Member Loan Application Form
- SSS digitized ID or E-6 with any two (2) valid IDs (one of which with a recent photo)
- Postal ID
- Baptismal Certificate
- Tax Identification Number (TIN) Card
- Senior Citizens Card
- School ID
- Professional Regulation Commission (PRC) ID
- LTO Driver’s License
- Credit Card
- Health or Medical Card
- GSIS Card
- Seaman’s Book
- Company ID
- Voter’s Identification card/affidavit/Certificate of Registration
- ATM card with cardholder’s name or with certification from bank
- NBI Clearance
- Transcript of Records
- Certificate from:
- Office of Muslim Affairs
- Life Insurance Policy
- Office of Southern/Northern Cultural Communities
- Birth/Baptismal certificate of child/ren
- Certificate of Licensure/Qualification Documents/Seafarer’s ID and Record Book from Maritime Industry
- Certificate of Naturalization from the Bureau of Immigration
- Seafarer’s Registration Certificate issued by POEA
- Bank Account Passbook
- Pag-IBIG Member’s Data Form
- Overseas Worker Welfare Administration card
- Police Clearance
- Marriage Contract
- For loan applications processed by an authorized representative:
- duly-accomplished Member Loan Application Form
- Letter of Authority (LOA) from employer
- SSS-issued Authorized Company Representative (ACR) card
- Member-borrower’s SS card or Application for SS card (SS Form E-6) acknowledgment stub and two (2) valid IDs
- two (2) valid IDs both with signature and at least one with photo
- For loans to be processed by employer or company’s authorized representative:
- duly-accomplished Member Loan Application Form
- two (2) valid IDs both with signature and at least one with photo
- Letter of Authority (LOA) from employer
- Member-borrower’s SS card or Application for SS card (SS Form E-6) acknowledgment stub and two (2) valid IDs
Submit your documents to the main office of SSS or a branch of the social insurance agency nearest to you. The loan processing may take a few working days.
You may also visit – Pag-IBIG Cash Loan Requirements – Here’s What You Need to Submit in Applying
