How long sss loan

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Leave a Reply Cancel reply Your email address will not be published. Related Posts. Editorial cartoon Opinion. Editorial Opinion. Borrowers need to pay their salary loan in 24 monthly installments.

The monthly amortization begins on the second month following the date of the loan. This will continue to be charged on the outstanding balance until fully paid.

In cases where the loan defaults, the unpaid amount will be deducted from benefits claimed by the member. Members with outstanding loans must also inform the agency via mail, email, or over-the-counter at the nearest SSS branch of any changes to address or employer. Once you receive your PRN, you can pay through the different accredited payment channels listed below. Providing a salary loan program is one of the ways SSS gives back to members who contribute regularly.

You can also use it to grow your savings again, fund a small business, or pay your bills. The SSS loan processing time is a lot shorter, too. Not sure if an SSS salary loan is right for you? Looking for other loans with an easier application process and faster approval time? Check out these options and apply through Moneymax!

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