Guide on SSS Loans 2023 for Qualified Members
SSS LOANS 2023 – Here’s a full list of the loan offers that members of the Social Security System may apply for to the government institution.
More and more Filipinos are in the pursuit of maintaining updated accounts to the Social Security System. It is one of the giant social insurance institutions in the country and most of its members are employees in the private sector. It has also several self-employed members across the nation.
To keep their accounts updated for a possibility eligibility to the offers of the Social Security System, the members regularly post monthly contributions. The state-run social insurance institution offers several loans and benefits for its members.
With regards to the SSS loans 2023, there are three (3) loan offers that members of the Social Security System who have qualified accounts may apply for — the SSS Salary Loan, the SSS Housing Loan, and the SSS Calamity Loan.
SSS Salary Loan
The SSS Salary Loan 2023 offer of the Social Security System is the multi-purpose offer of the state-run social insurance giant. It is open for both salaried and self-employed members as well as voluntary and overseas Filipino worker (OFW) members of the SSS.
Qualifications:
- member must be below 65 years old
- member must have posted at least 36 monthly contributions with six (6) of which posted within the last 12 months before the filing of the loan application
- if locally employed, the employer must be updated in the payment of contributions
- member must have not received a final benefit from the SSS
- must have not been disqualified due to fraud against SSS
SSS Housing Loan
The SSS Housing Loan 2023 was designed to finance the qualified member’s pursuit for home renovation or home improvement. It is open to fund projects related to residential property developments including the construction of concrete fence, installation of deep wells, completion of an occupied bare house, and expansion of an existing aesthetic value of an existing unit.
Qualifications:
- member must have posted at least 36 monthly contributions with 24 continuous contributions prior to the application
- not more than 60 years old at the time of application
- not previously granted a repair and/or improvement loan by the SSS or NHMFC
- not been granted final SSS benefits
- borrower and spouse is updated in the payment of their other SSS loan(s)
SSS Calamity Loan
Also one of the SSS loans 2023 is the SSS Calamity Loan 2023 which was designed to help members affected by the impacts of natural disasters. It is a financial loan assistance to help in the recovery of affected members.
Qualifications:
- resident of an area declared under a State of Calamity
- with at least 36 monthly contributions posted to SSS, six (6) of which posted within the last 12 months before the month of the application for SSS Calamity Loan
- If self-employed, voluntary, or land-based overseas Filipino worker (OFW), member must have posted at least six (6) monthly contributions under the current coverage/membership type before the month of the application for SSS Calamity Loan
- has not availed final benefits from the SSS
- has no outstanding balance in the SSS Loan Restructuring Program (LRP) or CLAP