All currently employed, currently contributing self-employed or voluntary member. For a one-month loan, the member-borrower must have thirty six (36) posted monthly contributions, six (6) of which should be within the last twelve (12) months prior to the month of filing of application.
Accordingly, can I pay my SSS loan online?
You can now pay your SSS contributions and loan repayments online! The first multi-bank payment gateway where you can transact in a secure, real time environment using your BancNet ATM card.
Secondly, how can I check my SSS salary loan online?
Step 1: Go to www.sss.gov.ph , then member login to view check your loans info. Type in your membership login details. Then, submit. The login process is needed whenever you want to view your personal records such as your SSS contributions, loan balance, and benefits eligibility online.
How long will it take to get SSS salary loan?
The loan proceeds shall be available to member-borrower’s account within three (3) to five (5) working days from approval date of the loan. The salary loan proceed is accessible through any Megalink, Bancnet and Expressnet Automated Machines.
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.
Actual need of the borrower (total project cost) Loan value of the assigned collateral or securities; or. Maximum of P500. 00 million per borrower.
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).
The amount you can loan is relative to the amount of your contributions and your monthly salary. The 1 month SSS salary loan is equivalent to the average of your past 12 Monthly Salary Credits (MSC). Meanwhile, the 2-month SSS loan is equivalent to 2x the average of your last 12 MSC .
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.