How Much You May Borrow under the SSS Cash Loan or Salary Loan Offer?
BORROW SSS CASH LOAN – You can check the guide below on the allowed minimum and maximum borrowing amounts under the salary loan offer.
The Social Security System has a cash loan offer or the Salary Loan offer. Both employed and self-employed members of the state-run social insurance agency who have posted at least 36 monthly contributions may borrow from the SSS cash loan offer.
If you have between 36 to 71 total monthly contributions posted, you may borrow an equivalent of your one-month basic monthly salary under the SSS cash loan offer. If you have 72 total monthly contributions posted or much more than it, you may borrow “equivalent to twice the average of the member-borrower’s latest posted 12 MSCs, rounded to the next higher monthly salary credit, or amount applied for, whichever is lower”.
Here are the requirements in applying for the loan offer:
- 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
You may also visit – Renewal SS
