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...
Loan amount:One monthly salary credit (MSC) up to PHP 20,000 Interest rate:6% per annum Repayment period:24 months (Monthly amortization starts on the fourth month after the date of the loan) Other:1% Service Fee Who Can Apply? The SSS calamity loan for covid – 19 is open to any me...
After the term of RL1 expires and the loan remains outstanding, the new principal balance under RL2 shall henceforth be charged with an interest rate of 10% per annum until fully paid OTHER TERMS While the Restructured Loan is existing or outstanding, the member-borrower cannot avail other SSS ...
The maximum salary loan has now been P32,000 if you are contributing the maximum contribution each month. So a member may get a net of P31,700. Equivalent to 2 months salary. Minus P300.00 as a service charge. The interest is minimal at 10% per annum at an initial balance with...