Who is Eligible and What is the Maximum Amount for an SSS Salary Loan?

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Curious about applying for an SSS salary loan and how much you can borrow? Wondering about the initial loan amount? Here’s what you need to know:

  1. Updated Monthly SSS Contributions and Payments: To apply for an SSS salary loan, members must have a minimum of 36 months of total contributions, with six months posted within the last 12 months before the month of application. This qualifies them for a loan equivalent to one month’s salary. Alternatively, members with at least 72 months of posted contributions, with six months posted in the last 12 months before the application month, can apply for a two-month salary loan. For employed individuals, the employer must ensure up-to-date loan remittances and monthly contributions. If you’re an individually paying member, additional requirements include at least six posted monthly contributions under your present coverage or membership type before the application month. Additionally, maintaining up-to-date payments on other loans, including government housing loans, is necessary.
  2. No Previous Final Benefit Availed: Applicants are eligible for a salary loan as long as they have not yet received any final SSS benefits such as retirement, permanent disability, or death benefits.
  3. Age Requirement: Qualified member-borrowers must be below 65 years old at the time of loan application.
  4. No SSS Disqualification Due to Fraud: Eligibility for the loan requires a clean record with no disqualifications by the SSS due to fraud.
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CashLoanPH Changed status to publish 02/03/2024