What are the SSS Loans Requirements?October 7, 2012
As part of our SSS Benefits, every member is entitled to avail their SSS loan. The amount of the loan is based from the SSS Member’s Total Actual/Accumulated Contribution. SSS loans are more flexible than those other types of loans because other lenders such a Banks and other Financial Institution still requires extensive requirements to be evaluated before they grant your loan request.
The SSS Loan Requirements:
If you’re planning to apply for SSS loan, the requirements needed before they approve your loan application are:
Accomplished SSS Form Member Loan Application Form (ISL-101) – download the form SSS Loan here. This form will serve as the application form/request for your SSS Salary Loan. Fill up the SSS Loan Application form completely and correctly.
When you’re done, submit the SSS Loan Application Form to your Employer. Your Employer will fill up the second part of the application form. In my case, I just left my application form to the Authorized Personnel of our Company to fill up the second part of my application form. They also process it for me by bringing the application in our SSS Branch. Few days passed and I received a call from our HR Representative that I have a Cheque from SSS and it’s ready for pick up.
If you are a self-employed, voluntary member, overseas worker, non-working spouse, farmer or fisher folk and house hold-helper shall submit an accomplished SSS Form ISL-101 and present the digitized ID card or E-6 acknowledgement stub with any two (2) of the following valid IDs. You can see the list of acceptable valid IDs here.
Submit your SSS Loans Requirements in your respective SSS Branch. Wait for their instructions on how to follow up to know the exact status of your SSS Loan Application. Usually, they will give you details such as the Telephone number to call, when you should start calling to follow up any updates regarding your SSS Loan and the contact person you need to talk.
And that’s it. I think we can wrap this thing up!
If you’re looking for easier way to apply for SSS Salary loan, try applying SSS Salary Loan Online! It will be much easier for you.