Guide on the SSS Salary Loan Interest Rate Implemented by the Government Agency
SSS SALARY LOAN INTEREST RATE – You can check the guide below for the interest rate implemented by the SSS under its cash loan offer.
Many Filipinos are members of the Social Security System, more popularly called the SSS. It is a state-run social insurance agency and it has several benefit and loan offers for its qualified members. The members of the public agency submit a monthly contribution or savings to the state institution.
One of the loans offered by the state-run social insurance agency is the SSS Salary Loan. It is a multi-purpose cash loan offer that members who have posted at least 36 monthly savings may apply for.
The SSS Salary Loan interest rate is charged on an annual basis. It is at 10% per annum based on the diminishing principal balance. The loan term is over 24 months.
For example, if you borrowed P10,000, the SSS Salary Loan interest rate annually will be P1,000. Do you want to check the loanable amounts? You may visit – Borrow SSS Cash Loan: Here’s Guide on the Minimum & Maximum Loanable Amounts.
For the documents needed in applying for the loan offer, prepare and submit the following:
- 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 – Renew SSS Cash Loan? Here’s How Much You will Get from Renewing your Loan
