I know that many of you ask about SSS salary loan and when can you as an SSS member renew your salary loan? Here is a simple general guide about SSS loan renewal (not just salary loan) that you might want to take a look in to.
Based on my own understanding, any loan that a member can make from the SSS may only be renewed upon full payment of an existing loan including interest if there is any plus other surcharges incurred.
As an additional tip, if you want to get paid of all your dues in your SSS loan, you can make a request on your office accountant to deduct a larger amount than set by the SSS loan table. This way, it will be sooner that you will get paid which eventually makes it sooner that you can renew your SSS loan
Loan amortization or deduction may be set according to your own preference. If you want to rid yourself of an existing SSS loan, the best possible way to do that is to pay a larger amount than that set by the SSS loan table.
No earlier loan may however be made if your loan term says 2 years of payment. Even if you finish earlier in paying your loan, you will have to consume those 2 years before you can make another one.
The use of paying higher that the set amount according to the loan table is for those who have penalties and want to pay their existing loan as soon as possible so they can either apply for another one of simply rid their account of any existing loan. You can make your payments in the bank.
Balance of P500 or less shall be deducted from the proceeds of the new loan. If you liked this post, please take time to subscribe to our latest posts below or in the sidebar. Thank you.
Saturday, June 27, 2009
SSS Loan Renewal
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5 comments:
hi! there good afternoon i just would to confirm. if there's really a policy that after you have finished paying loan in full term of two years, still you have to wait for couple of months to reloan or renew your loan?
Hello,
I would like to ask your office regarding my outstanding balance in my salary loan? Please send your reply to my email address sean_4720@yahoo.com
Thank you for your excellent service.
Sean Herbert P. Siy SSS ID # 05-0332195-6
Communication Foundation For Asia
4427 Int. Old Sta. Mesa, Manila
Hello!
Good morning!
I would like to inquire from your good office my outstanding balance of my salary loan..?Please reply me back to my email ad sdc_norkis@yahoo.com
Thank you for your continues excellent service.
Sherwin Dave Condiman SSS ID# 07-3024262-0
Norkis Group of Companies
Head Office:
A.S.Fortuna street,Mandaue City
Cebu
Good day. I would like to inquire if I can avail of a loan and what kind of loan is applicable to my present status.
My e-mail address: gepab_08@yahoo.com
I hope you can reply to my e-mail letter and do appreciate it very much for your immediate response.
Thanks and more powers.
Geronimo P. Abellanosa
SSS No.:08-0509187-4
i just want to ask how long it will takes to procee renewal from the date of submission considering i am below P500 loan balance?
This is ailyn from cavite
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