Other How much is the first SSS salary loan?

How much is the first SSS salary loan?

How much is the first SSS salary loan?

Another simple computation to look at would be, if you have posted 36 monthly contributions, of which six has been within the last 12 months before submitting your application, you can loan up to PHP 15,000 or a one-month salary loan. This is also the usual amount that first-time borrowers can receive (minus taxes).

How can I pay my old loan in SSS?

Yes. To pay your remaining loan balance in full, log in to the SSS member portal and click “RTPL PRN” on the main menu. Make sure you haven’t paid your most recent loan bill yet otherwise the billing statement won’t be displayed. Look for “Amount to be Paid” and enter the exact amount of your outstanding balance.

How many years before you can loan in SSS?

Member must be a member of the SSS; Member has at least 36 months premium contribution and 24 continuous contributions in a period prior to application. Member not more than 60 years old at the time of application and must be insurable. Members age 60 years at time of application will have a maximum loan term of 5 …

What is salary loan SSS?

LOAN DETAILS. A cash loan granted to an employed, currently- paying self-employed or voluntary member. It is intended to meet the member’s short-term credit needs. SSS Homepage Copyright © 1997 Terms of Service | Data Privacy Notice.

Is SSS calamity loan different from salary loan?

The calamity loan assistance is separate from the regular salary loan. Members with outstanding salary loans in SSS can still avail of the calamity loan. It offers an interest rate of only eight percent per annum for loan amount up to P450,000 while, nine percent per annum for loan amount of P450,000 up to P1 million.

How can I check my SSS loan status?

How to Check SSS Loan Balance Online 2021

  1. Step 1: Go to , then member login to view check your loans info. Type in your membership login details.
  2. Step 2: Hover your mouse to the “Inquiry” tab.
  3. Step 3: Hover your mouse to “Loans Info” tab.

What happens to unpaid SSS loan?

Any unpaid SSS loan will be deducted from your retirement, death, or disability benefits. The deduction will be huge if you’ve stopped making loan payments for many years. Availing of the LRP also enables you to clear your loan records with the SSS.

How will I know if my SSS salary loan is approved?

To check your loan status, you can log in to your My. SSS account. Click “Inquiry” and then “Loan Info.” Here, you’ll see your loan status and other loan details. You’ll also receive another notification via SMS or email if your check is ready to be delivered or credited to your bank account.

Can I avail SSS calamity loan with existing salary loan?

This calamity loan must be fully paid before the member can avail of future calamity loans of SSS. 2. Other terms and conditions in the existing salary loan guidelines, not inconsistent with the above provisions shall be applicable in this program.

Can I avail salary loan if I have existing calamity loan?

If you wish to file for a salary loan application, may we inform that any outstanding short-term loan (e.g. calamity loan, salary loan) balance in the SSS records will be deducted to the current salary loan proceeds, subject to its existing guidelines.

How can I check my SSS loan status through SMS?

Check the Status of Your Loan To inquire about the status of your loan, text SSS LOANSTAT to 2600. For example: SSS LOANSTAT 0529310429 1234.

How to apply for a SSS Salary loan?

If you have further questions about using SSS for a salary loan, give them a call on their trunk line at 8920 6401 or their call center at 8920 6646 to 55. To learn more about Blend’s alternative to SSS salary loans, contact these numbers directly during office hours: 8293 3628 or 5310 1743.

Which is the most popular SSS Salary loan?

Due to the fast approval process and low-interest rate, SSS salary loan is the most popular and most availed program of the Social Security System. In 2019 alone, a total of 29.98 billion worth of SSS salary loans were released and issued to 1.46 million members who availed of the said loans from January to September 1.

How many MSCs do I need for SSS loan?

Based on the contribution table, your income falls within the salary range of Php 17,750 – Php 18,249.99 which has the Monthly Salary Credit (MSC) of 18,000. In order to compute your loanable amount, you need to get the average of your latest 12 Monthly Salary Credits (MSCs).

What’s the maximum amount you can borrow from SSS?

Assuming that your income never changed and you paid your contributions consistently in the last 12 months, the maximum SSS salary loan you can borrow is Php 18,000 for a one-month salary loan and as much as Php 36,000 for a two-month salary loan, provided that you’re qualified for it.