Guide on the Renewal of SSS Cash Loan – The Conditions Set & the Amount You May Borrow
RENEWAL SSS CASH LOAN – You can check the comprehensive guide below on the SSS Salary Loan and the conditions in renewing it.
Millions of Filipinos can turn to the Social Security System, popularly called SSS, in times of financial challenges. It extends multiple loan offers that come with different eligibility and documentary requirements for application.
One of the loans offered by SSS is the Salary Loan or also called the cash loan. It is a multi-purpose loan offer that is open for members who have posted at least 36 monthly contributions.
Renewal is allowed under the said SSS cash loan offer provided that the borrower has already paid at least half of the borrowed amount of the existing loan. Also, the state-run social insurance institution set it as a condition that the current loan must have lapsed at least half of its term.
To apply for the SSS Salary Loan offer, there are documents that you must prepare and submit. These will be the basis of the state-run social insurance agency in the approval of your loan application:
- 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
When renewing your SSS Cash Loan offer, the remaining balance from the previous loan will be deducted from the new loan amount.
Alongside the cash loan offer, the social insurance agency also extends a housing loan option. Kindly visit – Apply for SSS Housing Loan for House Repair / Improvement thru these Simple Steps.
