Saturday, June 27, 2009

Delinquency and Interest Charges on SSS Loans

It is important that after applying or getting an SSS loan that you know the payment terms attached to that same loan whether member, housing or business loans. Knowing the loan penalties may also be a good move so you know what to expect when you were not able to pay on time based on terms set by the Social Security System.

SSS Loan Payment Guide
  • The one-month or two-month salary loan shall be payable within two (2) years in 24 equal monthly installments.
Delinquency Interest
  • If a member fails to pay the SSS loan amortization remittance on due date, the said loan shall bear a penalty of 1% per month which is called the delinquency interest.
Services Fee
  • While some of you didn’t mind about any additional charges on your loan if you fail to pay on time, there is actually another form of payment which you should make if that is the case. Please note that a service fee of 1% of the loan amount shall be charged and deducted from the proceeds of the loan.
Salary Loan Interest Charges
  • The loan shall be charged a nominal interest of 10% per annum / year. First year’s interest shall be deducted in advance from the proceeds of the loan. Second year’s interest shall be included in the monthly amortizations.
Here is more information about SSS loan.

15 comments:

Anonymous said...

My mother is turning 70 next year,I found out before that her contribution is not sufficient to receive pensions. I have paid some of her contribution last 2002. She is unproductive right now. Is it possible that she can receive her benefits from the SSS.

Anonymous said...

i want to pay my cousin's loan, but he is abroad... his SSS number is with me, can i pay it on his behalf? he loaned it last year before he left. thank you.

Anonymous said...

your site is not user-friendly; hardly navigable; and the chat room, though some tried hard to help out, is a total waste of time. maybe you should make your site have more information than just have it nice to look at.

Anonymous said...

do you have condonation right now? If none, when?

Unknown said...

inquire lang po regarding my sss salary loan status..if i can renew already my loan?

Anonymous said...

can't access your online inquiry web, iv
tried to register several times and its not working..please help..

i have a loan from years back, just want to know my balance and if you offer condonement

Anonymous said...

i'll just inquire how to pay my loan and how to view the total interest since my last payment was two years ago.tnx!

dandy oyanib said...

tanong ko lng po magkano n enterest loan ko seens 2007? e2 sss # ko 3357270289

Anonymous said...

is there any condonation this year?

Anonymous said...

ask ko lang how I can settle my loan which was not remitted by my former employer. Unfortunately the employer sold the company to a foreigner. Nag file na ako complain letter sa office nyo sa may MOA. At that time of submitting my complain existing pa dati ko employer. Paano ko ma settle loan?

Anonymous said...

May loan pa ako noong 2008, hindi ito nahulugan hanggang ngayon, paano ko ito ma settle. hindi na rin na continue ang contribution, wala na kasing worked hanggang nayon, pero ibig kong pagpatuloy ma CONTIBUTE, puwede naba ang 500.00 a month at nasira ng ONDOY ang ID CARD KO. Thank you po!

Anonymous said...

paanu po malalaman kong mag kano na ang nageg tubo ng utang ng asawa ko kc sabi niya 13k dw yun date na\yang utang

Anonymous said...

zaizzy :

hi,i work before in company then i got my first loan then after that just a few month i left the company because i go abroad,how can i pay to my sss loan?is it ok to pay even im not in the old company that i was worked before when i got my loan???and how??pls answer.............

Anonymous said...

i had my update in regards to my loan last week...i found out that i have a 1,500 plus balance on my account...but im aware to the fact that im fully paid to my salary loan,4 yrs ago...during my update i was given a website by the SSS employer for my formal and online complain...but the said website(www.sss.gov.ph) is not giving me any proper and sufficient mechanics inregards to my complain...
to whom it may concern,.im looking for the best sufficient website that would best fit to my kind of complain...im looking forward for your response as an SSS active member.pls send me an email....audrie_lyn@yahoo.com....

thank you.....

Anonymous said...

Hi i have a previous loan in sss. I paid only 6 months. Its almost 6 years how can i pay my balance? Im unemployed right now. Where can i get the computation for my monthly payment?

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