Question: How Much Is The 2nd Loan In SSS?

How do I know my SSS loanable amount?

How to Check your SSS Loanable Amount Online?Open your Internet Browser and type www.sss.gov.ph in your URL.Login using your User Name and Password.

If you do not have an SSS Online Account yet, you may create one.

Follow this step by step guide on how to create an SSS Online Account.

After successfully loggin in, you will see SSS Menu in your profile..

How can I apply for SSS loan?

How to submit application via SSS WebsiteVisit the SSS website (sss.gov.ph) and click Member.Enter your User ID & Password and click the box for the captcha.Under E-Services, select Apply for Salary Loan. … Select the preferred loan amount and choose the preferred bank account to which the loan will be disbursed.More items…•

What happens to unpaid SSS loan?

Any unpaid SSS loan will be deducted from your retirement, death, or disability benefits. The deduction will be huge if you’ve stopped making loan payments for many years.

What happens if SSS loan is not paid?

Any unpaid loan amortization shall bear a penalty of 1.5% for every month of delay. If the mortgagor fails to pay at least six (6) monthly amortizations, the SSS may immediately foreclose the mortgaged property.

When can I loan in SSS for the second time?

You can only apply for another salary loan when you have paid at least 50% of the principal or at least half of the term has lapsed. For instance, if you get approved for a PHP 15,000 loan, you can only apply again when your remaining balance is PHP 7,500 or after one year of paying.

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.

Can I avail SSS calamity loan with existing salary loan?

Nicolas also said that SSS members who have an existing salary loan can also avail of the calamity loan, provided that the member pays his or her SSS loan dues on time. … Nicolas then assured SSS members that they can still apply for salary loan even amid the enhanced community quarantine by logging on to sss.gov.ph.

How much can I loan in Pag ibig?

Six Million PesosA qualified Pag-IBIG member shall be allowed to borrow an amount up to a maximum of Six Million Pesos (Php 6,000,000.00), which shall be based on the lowest of the following: The Member’s Actual Need, His Loan Entitlement Based On Capacity To Pay, The Loan-To-Appraisal Value Ratio.

How much is the maximum loan in SSS?

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.

What happens if you don’t pay your SSS loan?

The Lender Will Take Back Your Car or Home As a way to recover their losses, lenders will take back the loaned car or house when you fail to repay the loan. For example, if you availed of an SSS housing loan, the SSS will foreclose the property as soon as you’ve failed to make six monthly loan payments.

Can I apply SSS calamity loan online?

Members must be registered at the My.SSS web portal on the SSS website at www.sss.gov.ph to apply for the loan. Here are other requirements to qualify for the SSS loan: have at least 36 monthly contributions, six of which should be posted within the last 12 months before the application.

Can I withdraw my contribution in SSS?

Unlike Pag-IBIG contributions that can be withdrawn after 20 years, paid SSS contributions cannot be refunded. You can only file a claim for benefits (sickness, maternity, etc.) or claim your pension upon reaching retirement age.

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.

Who is eligible for SSS calamity loan?

The following are the qualifications in order for members to apply for the SSS calamity loan: Members who’ve had at least 36 months of contributions; with six (6) posted within the past 12 months on or before the month of application. Home address of the member should be at a declared State of Calamity.

How can I pay my SSS calamity loan?

Payment shall be made at any SSS branch office with payment facility, SSS-accredited bank, or SSS- authorized payment center. 1. The loan shall be charged an interest rate of 6% per annum commencing on the 4th month, computed on a diminishing principal balance and shall be amortized over the remaining 24 months.