Asked by: Falak Winkelbeiner
personal finance retirement planning

When can I apply for SSS loan?

Last Updated: 3rd March, 2020

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To apply for an SSS salaryloan,you'll need to be currently employed and under the ageof 65. For aloan that's equal to 1 month's salary, you musthavecontributed to social security for at least 36 months. Foraloan that's equal to 2 month's salary, you'll need atleast72 months of social security contributions.

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Furthermore, when can I avail my SSS loan?

All currently employed, currentlycontributingself-employed or voluntary member. For a one-monthloan, themember-borrower must have thirty six (36) postedmonthlycontributions, six (6) of which should be within the lasttwelve(12) months prior to the month of filingofapplication.

Furthermore, how can I apply for SSS loan? To apply personally, visit an SSSbranchand submit a duly filled-up application form togetherwithyour SSS ID or E-6 Form and at least two valid IDswithsignature. At least one of the IDs presented should haveyourphoto. After submitting requirements, it takes two tothreeweeks of loan processing.

Regarding this, how much is the first loan in SSS?

SSS loan amount SSS members with at least 36monthlycontributions can borrow an amount equal to their one-monthsalaryup to P15,000. Those with at least 72 monthly contributionsareentitled to a two-month loan worth twice their salary uptoP30,000.

Can a voluntary SSS member apply for a loan?

The only requirement is to have at least onemonthlycontribution as a voluntary, self-employed, orOFWmember. The SSS salary loan is acashloan granted to any SSS member –includingvoluntary ones – to help them meet theirshort-termcredit needs.

Related Question Answers

Domitilo Ristea

Professional

Can I loan in SSS with existing loan?

You can also apply for a loan ontheMy.SSS online service portal. The final loanamountwill depend on the number and amount of contributionsmadesince the opening of the account, but in general, SSSwillonly allow you to borrow a month or two months'worth ofyour salary, payable within 24 months.

Eudoxio Avin

Professional

Can I loan in SSS if unemployed?

SSS members to get unemploymentbenefitsof up to Php 10,000/month. Under Section 14-Bof RA11199, an SSS member who finds himselfinvoluntarilyunemployed can claim SSS unemploymentbenefitequivalent to 50 percent of his average monthlysalarycredit for a maximum of two months.

Leonora Bayona

Professional

How can I pay my SSS loan balance?

Simply follow these steps to view your SSS OutstandingLoanBalance online.
  1. Go to the Social Security System Official Website.
  2. Once you have successfully logged in, click E-Services->Inquiry.
  3. After the Employee Static Information has loaded, you canfindoptions on top of the Member Details.

Xoaquin Oltra

Explainer

Can I apply SSS online?

You can apply online at the officialSSSwebsite, through the E-Service tab which will giveyou aconfirmation email and transaction number. You canalsodo it at one of the SSS branches. This is theonlyoption if you're self-employed or on voluntarypay.

Waltraud Houtum

Explainer

How can I check my SSS loan status?

Members can get their checks dates and numbers bycallingSSS at 917-7777, 920-6401 and 920-6446 to 55. Theycan alsoinquire with their local mailman or post office abouttheir checksafter verifying the mailing date posted at the SocialSecuritySystem.

Cassaundra Zaegel

Explainer

How long will it take to process SSS salary loan?

Visiting an SSS branch
You can check the accepted IDs andotherrequirements at the SSS Salary Loan guide.Aftersubmitting requirements, it will take threeweeks tomore than one month of salary loan processing.Youcan get your loan check from your employer if youarea full-time employee.

Jamaa Ilzhofer

Pundit

Can I pay late SSS contribution?

SSS revises payment deadlinesforcontribution payments. Similarly, self-employedandvoluntary members can pay up to the month-end followingtheapplicable month or quarter of contributionpaymentregardless of the last digit of the individual member'sSSNumber.

Kabir Johler

Pundit

How can I see my SSS loanable amount online?

Today, all it takes to view your SSS contributions istodo it online via the Social Security System website.

How to Check Your SSS Contributions Online
  1. Step 1: Visit the SSS website.
  2. Step 2: Log in to your My.SSS account.
  3. Step 3: Go to the Member Inquiry page.

Tilda Retre

Pundit

How much can I loan in Pag ibig?

Pag-IBIG members can loan up toamaximum amount of 6 million pesos, although loans thatcost3 million and above are limited by Pag-IBIG'sannualfunding allocation.

Russel Irurecheta

Pundit

How much is SSS self employed?

The current SSS contribution rate is 11%ofthe monthly salary credit not exceeding P16,000 and this isbeingshared by the employer (7.37%) and the employee(3.63%).Self-employed and voluntary members pay the11% ofthe monthly salary credit (MSC) based on the monthlyearningsdeclared at the time of registration.

Roger Montecelo

Pundit

How can I loan from Pag ibig?

To qualify for a Pag-IBIG Salary Loan, Pag-IBIG Fundmembersneed to accomplish the following:
  1. Have a total Pag-IBIG Fund savings of PHP 4,800 or atleasttwenty-four (24) monthly Membership Savings (MS)
  2. Have made at least one (1) MS within the last six (6) months,asof month prior to date of loan application.

Ibolya Nouali

Teacher

How can I apply for SSS self employed?

A self-employed person shouldaccomplishand submit Self-Employed Data Record (SSForm RS-1).If he/she has no existing SS number, SS Form RS-1 shouldbesubmitted with the original/certified true copy and photocopyofany of the primary or any two (2) of the secondarydocumentsacceptable in securing SS number.

Chaoping Amilibia

Teacher

How long does SSS loan gets approved?

Loan applications – whether viatheSSS website or processed at a branch – take twotothree weeks to approve from the date ofapplication,providing that all necessary documents have beensubmitted. Foremployed members, the check is released totheiremployers.

Dris Horstman

Teacher

Can I apply SSS loan online?

If you've registered for a my.SSS account,youcan log in and complete an online formtoapply for a salary loan. If you are employed,makesure your employer also has an online account tocertifyyour employment. You can submit an applicationonlineif you are an OFW member, or if you areself-employed.

Vicki Ghica

Teacher

What are the requirements for SSS?

A person registering with the SSS for thefirsttime as a prospective employee should accomplish SSSFormE-1 (Personal Record) and submit it together withtheoriginal/certified true copy and photocopy of any of thefollowing:baptismal, birth certificate, driver's license,passport,Professional Regulation Commission

Ericka Rothfuss

Reviewer

What is STL in Pag ibig?

4. SHORT-TERM LOAN (STL) PROGRAMS.MULTI-PURPOSELOAN PROGRAM (MPL). This program aims to providefinancialassistance to Pag-IBIG members for houserepair,minor home improvement, home enhancement, tuition oreducationalexpenses, health and wellness, livelihood; or otherpurposes.Borrower Eligibility.

Jeffrey Nagappa

Reviewer

How much is the minimum SSS contribution for voluntary?

For self-employed and voluntary members,thecontribution rate is 11% of the monthly salary credit(MSC)based on the monthly earnings declared at the time ofregistration.For OFWs, the minimum monthly salary credit ispegged at₱5,000.

Othman Ratnasabapathi

Reviewer

How do I pay voluntary SSS?

Self-employed/voluntary members should:
  1. Pay your contributions using SS Form RS-5 (ContributionsPaymentReturn) monthly or quarterly in accordance with theprescribedschedule of payment.
  2. Register with My.SSS at the SSS website www.sss.gov.phprovidedyou have at least one (1) month posted contribution.

Dejan Averichkin

Reviewer

How much is SSS maternity benefit for voluntary 2019?

The maximum compensation is P20,000, effective April1,2019. The higher your MSC are, the higher theamountyou'll get from SSS. Before we jump in tothecomputation of your would be SSS benefit, letusfirst dig in to what MSC is.