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GUIDE: Methods to apply for SSS Wage Mortgage On-line

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GUIDE: How to apply for SSS Salary Loan Online

How to Apply for an SSS Salary Loan

How to apply for a Loan in? Actual Steps An eligible SSS member may file the salary loan application at any branch nearest the place of residence, work or business. Those who are already registered at My.SSS can submit the salary loan application online. WHO IS ELIGIBLE FOR AN SSS SALARY LOAN? All members who […]

GUIDE: How to apply for SSS Salary Loan Online
Melo Villareal
Out of Town Blog

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GUIDE: How to apply for SSS Salary Loan Online

How to Apply for an SSS Salary Loan

Methods to apply for a Mortgage in? Precise Steps

An eligible SSS member might file the wage mortgage utility at any department nearest the place of residence, work or enterprise. Those that are already registered at My.SSS can submit the wage mortgage utility on-line.

How to Apply for an SSS Salary Loan
Methods to Apply for an SSS Wage Mortgage

WHO IS ELIGIBLE FOR AN SSS SALARY LOAN?

  1. All members who're at present employed, contributing self-employed, or voluntary members

For a one-month mortgage, the member-borrower should have thirty-six (36) posted month-to-month contributions, six (6) of which have to be inside the earlier twelve (12) months.

For a two-month mortgage, the member-borrower should have seventy-two (72) posted month-to-month contributions, six (6) of which should have been made inside the final twelve (12) months earlier than the month of utility submitting.

  1. The member-borrower whose employer needs to be up to date within the cost of contributions
  2. The member-borrower has not obtained closing advantages, corresponding to complete everlasting incapacity, retirement, or loss of life.
  3. The member-borrower have to be below sixty-five (65) years of age on the time of utility.
  4. The member-borrower has not been disqualified due to fraud dedicated in opposition to the SSS.

HOW DO I APPLY FOR AN SSS SALARY LOAN ONLINE?

A member who has registered with My.SSS can apply for a wage mortgage on-line. To use for a wage mortgage on-line, the member should first register at My.SSS. An employed member's wage mortgage will probably be directed to the employer's My.SSS account for certification; thus, the employer should even have an SSS Net account.

The next is a step-by-step information on easy methods to apply for a wage mortgage on-line:

  1. Go to the brand new SSS web site and log in to the SSS Member portal
  2. Log in to your My.SSS account along with your consumer ID and password
  3. Choose “Apply for Wage Mortgage” from the E-SERVICES tab
  4. Choose your most popular digital mortgage disbursement channel
  5. Learn and overview the Disbursement Account Enrollment Module (DAEM) Reminder
  6. Register your checking account or cell phone quantity through the Disbursement Account Enrollment Module.
  7. Watch for 1 to 2 working days to approve your Disbursement Account Enrollment.
  8. Now that your disbursement account has been accredited, return it to My.SSS and choose “Apply for Wage Mortgage” below E-SERVICES.
  9. Learn and overview the Mortgage Disclosure Assertion or have it printed.
  10. Watch for the knowledge that may notify you about your SSS wage mortgage utility standing.

HOW WILL I RECEIVE MY APPROVED LOAN?

After receiving an electronic mail notification from SSS saying that the appliance was accredited, member-borrowers can lastly declare it by their most popular methodology. Generally, mortgage proceeds will probably be credited to the checking account inside 2 days. It may be claimed by ATM.

HOW DO I PAY FOR THE SSS SALARY LOAN?

For employers, PRN mortgage funds might be made through BancNet's eGov facility, which is out there to account holders of the next banks: United Coconut Planters Financial institution, Normal Chartered Financial institution, Robinsons Financial institution, Rizal Industrial Banking Company, Philippine Nationwide Financial institution, Philippine Financial institution of Communications, MUFG Financial institution, Asia United Financial institution, Financial institution of Commerce, China Financial institution Company, CTBC Financial institution, and Metropolitan Financial institution.

OFWs, volunteers, and self-employed members will pay on-line through Safety Financial institution, Union Financial institution of the Philippines, and different accredited companions.

How lengthy is SSS wage mortgage processing?

The mortgage proceeds shall be accessible to member debtors' accounts inside three (3) to 5 (5) working days from the approval date of the mortgage. The wage mortgage proceeds are accessible by any Megalink, Bancnet, or Expressnet Automated Machines.

SSS LOAN SCHEDULE OF PAYMENT

  • The SSS mortgage shall be payable inside two (2) years in 24 month-to-month installments.
  • The month-to-month amortization shall begin on 2nd month following the date of the mortgage, which is due on or earlier than the cost deadline, as follows:
SSS Loan Schedule of Payment
SSS Mortgage Schedule of Fee
  • Fee shall be made at any SSS department with tellering facility, SSS-accredited financial institution, or SSS-authorized cost middle.

SSS SALARY LOAN INTEREST AND PENALTY

  • The mortgage shall be charged an rate of interest of 10% every year primarily based on diminishing principal steadiness and shall be amortized over a interval of 24 months.
  • The curiosity of 10% shall proceed to be charged on the excellent principal steadiness till absolutely paid.
  • Any extra within the amortization cost shall be utilized to the excellent principal steadiness.
  • The Wage Mortgage amortization not remitted on the due date shall bear a penalty of 1% monthly till the mortgage is absolutely paid.

For a way more handy mode of cost, member-borrowers can now pay through GCash, UnionBank of the Philippines, and utilizing Moneygment App.

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Learn: You Can Now Pay Your SSS And Pag-IBIG Fees With ShopeePay

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GUIDE: How to apply for SSS Salary Loan Online
Melo Villareal
Out of Town Blog

_______________________________________________________________________
Support author of this article and visit his post, originally published HERE

This post is originally published at Out of Town Blog blog and it's not owned by this site! Respect content authors!
_______________________________________________________________________