The interest rate of an SSS Salary Loan is 10% per annum, computed on a diminishing balance basis. What is the term of the loan? The term of the loan is two years, with monthly payments required. How do I apply for an SSS Salary Loan?
Emilio de Quiros:The way SSS protects their fund is that when we grant the salary loan and there is no payment on the loan, there’s a penalty 1% month and what we do is we collect from the benefit of the member. So when they retire for example, then we collect it from th...