The PH Archipelago

The quarantine may have been a good call to contain the spread of the virus, but it really is also taking a toll on a lot of aspects of people’s lives. Financially speaking, this quarantine took a toll on a lot of people’s budget. And with that happening, people have been taking loans left and right.

If you are one who is thinking of making an SSS loan, today is your lucky day, especially as applying for a loan at SSS got a lot easier thanks to a more developed online system. Now, SSS members can apply an SSS salary loan like 1, 2, 3, right from the the comfort of their homes, equivalent to one month’s worth of salary.

Members just need to make sure they have made at least 36 months total contributions and 6 months of contributions in the last twelve months. also, they can apply for a two-month salary loan, but they should have at least 72 months of posted contributions and 6 months of contributions in the last twelve months. You can also apply for a two-month salary loan, but you should have at least 72 months of posted contributions and 6 months of contributions in the last twelve months.

SSS Salary Loan Requirements

As much as document requirements are needed, employed SSS members need to prepare the following:

• An SSS digitized ID or E-6
• 2 valid photo IDs
• An SSS online membership
• SSS Salary Loan for OFWs

OFW members can also apply for salary loans at SSS Foreign Representative Offices within their current area. However, if the OFW member is unavailable, the OFW member can designate a representative to submit their application and documents in the Philippines. Just do take note that original copies of supporting documents must be provided on the application. Here are the requirements:

• Authorized representative’s SSS card or two valid photo IDs with signature
• A Letter of Authority signed by both the OFW borrower and authorized representative
• OFW’s SSS card or two valid photo IDs with signature
• SSS Salary Loan Online Application

We understand that the fear of catching the virus is still eminent in our society, so you can definitely instead apply for an SSS salary loan through the My.SSS portal. Juts be sure the you also are registered to the online SSS system. If all that is settled, here are the steps for you tofollow.

SSS Salary Loan Application Process

1. Log on to your My.SSS account and click Electronic Services.

2. Click “Apply For Salary Loan”.

The amount you could loan will automatically be displayed. Don’t worry, though, if the amount displayed is too high for what you prefer, you can choose to borrow a lower amount.

3. Once you application is approved, the loan proceeds will be deposited to your UMID-ATM Savings Account/Unionbank of the Philippines (UBP) Quick Card.

For the mean time, only UBP accounts are accredited for electronic loan disbursement. However, if you don’t have any, a check will be sent to your employer.

4. Make sure to read the terms and conditions thoroughly and tick the box for “I agree to the Terms of Service” before clicking Proceed.

5. Once you click Proceed, the loan disclosure statement will then appear.

Take the time to read it, too. You can download it or even print it out. After viewing and reading the disclosure statement, click Submit.

6. After clicking Submit, a confirmation message will be displayed.

For future reference, make sure to copy the transaction number or refer to the email notification that will be sent to your registered email address.

After you have done all these steps and your SSS salary loan application is submitted, your employer is given three (3) working days to certify your application. You will then get a notification on your registered email address about the status of your SSS salary loan applications. In line with that, you will also receive a text message once your loan is officially approved. Unfortunately, if your loan is denied or is not certified by your employer, it will expire and you will need to repeat the process.

*Featured Photo by OFW Update