The SSS Online Loan Calculator is a great tool to help you determine how much you can borrow from the Social Security System (SSS). This calculator takes into account your current monthly salary, age, and contribution history to provide you with an estimate of the maximum loanable amount. Simply enter your information into the calculator below and click “Calculate” to see your results.
The Salary Loan is a short-term loan made available to SSS members who are currently employed and paying their monthly contributions. The loan amount is based on the member’s contribution record and salary. The maximum loadable amount is P20,000 while the minimum is P1,000.
The Salary Loan may be used for any purpose such as payment of tuition fees, medical expenses, home repairs, or other personal needs. Members who wish to apply for a Salary Loan must fill out an application form and submit it to the nearest SSS branch office.
Once the application has been approved, the member will be required to pay an upfront fee of 2% of the loan amount. The loan will then be released within 10 days. The loan must be repaid within two years in equal monthly instalments.
If you are an SSS member and in need of financial assistance, you may apply for a Salary Loan at any SSS branch office near you.
To qualify for an SSS loan, you must be an active member of the SSS and have paid at least 12 monthly contributions prior to the date of your application. You must also submit proof of income and provide collateral to secure the loan.
The answer to this question depends on a number of factors, including your credit score, employment history, and monthly income. However, the maximum loan amount that you can avail yourself from SSS is PHP 40,000.
The first SSS salary loan is worth P1,000.
You should get the loan proceeds within 8-10 days if you opted for electronic disbursement.
Yes, you can use GCash for your SSS salary loan. You can link your GCash account to your SSS online account and use it to pay your salary loan contributions.
Yes, you can loan in SSS if self-employed. There are several requirements that you need to meet and submit, but it is generally possible to get a loan through the Social Security System if you are self-employed. Speak to your local SSS branch for more information.
Yes, you may withdraw your SSS contribution if you meet any of the following conditions:
– You are at least 60 years old and have retired from employment;
– You are between ages 50 to 59 and have been separated from employment for at least two months;
– You are permanently incapacitated and can no longer work; or
– You are on temporary disability leave for more than 90 days.
Yes, you can apply for SSS benefits even if you don’t have a job. However, you will need to meet certain requirements and provide supporting documents. To learn more about how to apply for SSS benefits, visit their website or contact their customer service hotline.
If you miss a payment, you may be penalized. The penalty will depend on how much you owe and how many payments you have missed. You can make a payment online, by mail, or in person at an SSS branch. If you need help making a payment, you can contact the SSS customer service.
The SSS salary loanable amount is calculated using the following formula:
Loanable Amount = (Basic Salary + Allowances) x Multiplier
Where:
Basic Salary = Your gross monthly income from your regular job/employment
Allowances = Income from other sources that are not regular such as commissions, honoraria, etc. (subject to certain conditions)
Multiplier = 3 for members with no previous availment of SSS salary loan; 2 for members with one previous availment of SSS salary loan; 1.5 for members with two or more previous availments of SSS salary loan.
To be eligible for an SSS Salary Loan, you must be an SSS member and have made at least 36 monthly contributions, with six of those contributions made within the last 12 months before the loan application.
The amount you can borrow with an SSS Salary Loan depends on your average monthly salary credit, which is the average of your last 12 monthly salary credits. The loan amount ranges from PHP 1,000 to PHP 32,000.
The interest rate of an SSS Salary Loan is 10% per annum, computed on a diminishing balance basis.
What is the term of the loan? The term of the loan is two years, with monthly payments required.
You can apply for an SSS Salary Loan by logging in to your My.SSS account online or by visiting any SSS branch and filling out the loan application form.
The processing time for an SSS Salary Loan application is typically around two weeks, but it can take longer during peak periods.
The loan proceeds will be credited directly to your enrolled bank account if you have provided one.
You can repay your SSS Salary Loan through salary deduction or by paying directly to an SSS branch or accredited payment center.
Yes, you can prepay your SSS Salary Loan at any time without penalty.
If you fail to make your loan payments on time, you will incur penalty charges and interest on the outstanding balance.
Yes, you can apply for another SSS Salary Loan while you still have an existing one, as long as you have paid at least half of your previous loan.
You can check the status of your SSS Salary Loan application online by logging in to your My.SSS account or by visiting an SSS branch.
Yes, you can cancel your SSS Salary Loan application by visiting an SSS branch and filling out a loan cancellation form.
The requirements for an SSS Salary Loan application include a valid ID, your SSS number, and your last six monthly payslips or your employment contract.
The maximum loanable amount for a second SSS Salary Loan is PHP 32,000, provided that you have paid at least half of your previous loan.
Yes, you can still apply for an SSS Salary Loan if you have an outstanding loan balance, as long as you have paid at least half of your previous loan.
No collateral is required for an SSS Salary Loan.
No, you