What is the SSS online loan application?
The SSS refers to the Social Security System under the Republic of the Philippines. The SSS portal ensures to provide social security services to the workers in various sectors under the Republic of Philippines. The SSS was established in the year 1954 by the virtue of the Social Security Act also known as Republic Act No. 1161. This law was later amended in the year 1997 as Republic Act No. 8282.
The individuals covered under the SSS insurance program include workers working in the informal, professional, and private sectors. The SSS loan is a cash loan that is granted to the self-employed, currently employed, or voluntary member and is aimed at meeting the employees’ or applicants’ short-term funding or credit requirements.
How to apply for SSS online Loan Application?
To apply to the SSS online loan you need to follow these steps:
- Go to the SSS portal under the Republic of Philippines.
- Then under the heading of “Salary”, you will find a tab called “How to Apply”. Click on the same.
- There you will see a link for SSS, click on that.
- Alternatively, click on this link https://www.sss.gov.ph/sss/registrationPages to begin registration.
- Select the type of loan under the salary loan you wish to apply for. Select the options available.
- Fill in the required information and Submit.
What are the application requirements for SSS loans?
The application requirements for the SSS loan is as follows:
- For a 1 monthly loan, the borrower is required to have 36 posted monthly contributions. 6 of which should be within the last 12 months of filling the form.
- For a 2 monthly loan, the required posted monthly contribution is 73 monthly contributions with 6 within the last 12 months.
- The borrowers’ employer must be updated in the payment of contributions.
- The borrower must be under the age of 65 and have not been granted final benefit.
Who is the eligible candidate for the SSS loan application?
The eligible candidates for the SSS online loan application are as follows:
- The applicant must be a citizen of the Republic of the Philippines.
- The applicant must be either employee, self-employed, or a volunteer and a member of the Social Security System.
- The candidates must meet the application requirements and must be able to furnish the required documents.
How to check SSS Online Loan Application Status?
To check the SSS online loan application status you need to follow these steps:
- Go to the official website of SSS loan by clicking on this link www.sss.gov.ph.
- Type your membership login details and then log in with your credentials.
- After logging in click on the SSS loan Application section and click on Application Status to check your status.
How long does it take for SSS Loan Application?
Usually, the SSS loan application takes on an average of 4 days. The proceeds of the loan us usually available on the borrower’s account after the verification procedure for a duration of 3 to 5 days.
The application deadline for the SSS loan is usually in the last week of February of every year.