Question: How Do I Report My SSS Loan Payment?

How do I check my loan balance?

A person can check the loan status by calling the customer care numbers for any financial queries including Personal loan.

You can also directly go to the branch you apply at to meet the officer in charge to know the status of your personal loan application..

Can I fully paid my SSS loan?

The LRP allows member-borrowers to settle their overdue loan principal and interest in full or by installment under a restructured term depending on their capacity. For both schemes, SSS shall waive all the loan penalties after the member has completed paying the restructured loan.

How many days does SSS salary loan release?

5. 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.

What is the maximum SSS salary loan?

SSS members with at least 36 monthly contributions are eligible for the one-month salary loan of up to P15,000. The loanable amount is based on the member’s monthly salary credit (MSC), which is currently at a maximum of P15,000.

Does SSS loan have interest?

The interest rate for the loan is 9 percent per annum. Repricing: Loans with a payment term of not more than 15 years shall bear a fixed interest rate.

How long is SSS calamity loan credited?

If release thru UBP Quick Cards: The loan proceeds shall be credited to member-borrower’s account within three (3) to five (5) working days from approval date of the loan. Member-borrowers may avail of UBP Quick Cards at UBP Kiosks located at selected 26 SSS Branches.

What happens if I dont pay my SSS loan?

Failure to pay off your loan from the government can affect the benefits you can claim. For example, if you default on an SSS Salary Loan, SSS will deduct the loan balance—including the penalty and interest—from your retirement, disability, or death benefits.

How can I check my SSS loan payment?

How to Check SSS Contributions Online Steps 2020Step 1: Go to SSS website and log in with your SSS online account. … Step 2: Check the Navigation Bar and Go to Inquiry Page. … Step 3: Go to Inquiry drop-down menu and Choose Contributions. … Step 4: View your monthly SSS Contributions.

What is SSS loan condonation program?

The LRP with penalty condonation offers member-borrowers an opportunity to settle their past due short-term loans, where penalties are waived through a conditional condonation. … SSS implemented LRP in response to clamor from members who failed to pay their loans due to financial constraints caused by calamities.

How can I check my SSS calamity loan status?

To view the status of your SSS salary loan, for example, just key in SSS and send it to 2600.

How long should I wait for my SSS loan?

Best of all, the processing time can take as little as 24 hours provided that you submit the complete requirements and you have someone to fund your loan. If you have further questions about using SSS for a salary loan, give them a call on their trunk line at 8920 6401 or their call center at 8920 6646 to 55.

How can I pay my SSS loan?

To proceed with payment:Log on to on Payment Reference Number (PRN)Copy the generated Payment Reference Number (PRN)Be sure to check if covered months being paid for is correct. … Log in to Security Bank Online.Select Pay Bills under Payments & Transfers.More items…

How much is SSS loan interest?

The interest rate is pegged at 10% annually on your outstanding principal balance. That means that the interest you’re paying diminishes over time. You also have to pay a service fee of 1%, plus a penalty of 1% per month for late payments. It takes two to three weeks for SSS to process your application.

What is monthly salary credit in SSS?

Monthly salary credit salary credit means the compensation base for contributions and benefits related to the total earnings for the month. (The maximum covered earnings or compensation is P16,000 effective January 1, 2014).

How much is the loanable amount in SSS calamity loan?

Loan Amount Members can borrow up to 80% of their Total Accumulated Value (TAV) subject to the terms and conditions of the program. Calamity Loan Interest rate is 5.95% per annum. The loan is amortized over 24 months, with a grace period of 3 months. Paying period begins on the 4th month following their check date.

Can I apply SSS calamity loan with existing salary loan?

This calamity loan must be fully paid before the member can avail of future calamity loans of SSS. 6. Other terms and conditions in the existing salary loan guidelines not inconsistent with the above provisions shall be applicable in this program.