Who May Qualify for SSS Salary Loan?
By admin on May 24, 2012
- An employed, currently paying self-employed or voluntary member (SE/VM) who has 6 posted monthly contributions for the last 12 months prior to the month of filing of application.
- For one-month loan, the member-borrower must have 36 posted monthly contributions prior to the month of filing of application.
- For a two-month loan, the member-borrower must have 72 posted monthly contributions prior to the month of filing of application.
- If the member-borrower is employed, the employer must be updated in contributions and loan remittances.
- The member-borrower must be updated-current in the payment of other member loans, which include educational, stock investment, MADE & housing loans granted under the Unified Housing Loan program (UHLP) or direct from SSS.
- The member-borrower has not been granted final benefit (total permanent disability, retirement and death).
- The member-borrower has not been disqualified due to fraud committed against the SSS.