Member Loans can be a Salary Loan or an Emergency Loan
Salary Loan, this is loan allowed for members with short credit terms. He/She will be qualified for the said loan if currently employed or paying voluntarily that posted 6 months for the last 12 months prior to the date of loan application. If the member is a employed, the employer should updated the remittances and contributions, and the member had never been disqualified due to any fraud committed to SSS. The said loan should not exceed Php24,000.00, and be payable two years for 24 installments. For more information, kindly visit the SSS respective branches, or visit the SSS official website -- www.sss.gov.ph/.
Emergency Loan, this are loans granted to those who separated from job because of currency problems. The said loan must not exceed Php12,500.00. Whenever the borrower wasn't able to pay the loan on due date, the remaining balance will be charge 1% monthly up to the date where it is fully paid.