Details about the SSS Cash Loan Interest Rate Implemented Annually on Active Loans
SSS CASH LOAN INTEREST RATE – Here’s a simple yet comprehensive guide on the interest rate implemented by the Social Security System.
The Social Security System (SSS) has a cash loan offer, the SSS Salary Loan, which is open for members of the state agency who have posted at least 36 monthly contributions. The offer was designed to help address the short term financial needs of the members.
Under the loan, you may repay the amount borrowed for up to 24 months. How much is the SSS Cash Loan interest rate?
The SSS Cash Loan interest rate is at 10% per annum. It is implemented based on a diminishing principal balance.
The loanable amounts differ among the qualified SSS members based on fixed factors set by the SSS. You may visit — Borrow SSS Cash Loan: Here’s Guide on the Minimum & Maximum Loanable Amounts.
To apply for the loan offer, you must prepare the following requirements and submit them to a branch of SSS nearest to you:
- 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
If you have an existing SSS Salary Loan and you want to apply for a renewal, you may visit — Renewal SSS Cash Loan – Here’s the Loanable Amount on your 2nd Loan.
