Interest Charges Delinquency in Paying SSS Loan
After making an SSS loan or at least for some who want’s to make sure, the next big question would be what are the payment terms of your loan. Some would also possibly ask about what penalties will be incurred in case you are not able to pay on time or if you fail to pay the loan based on the terms stated in months or years as part of the SSS loan program. Below are some guidelines about loan charges and payment questions.
SSS Loan Payment Guide
- The one-month or two-month salary loan shall be payable within two (2) years in 24 equal monthly installments.
Salary Loan Interest charges
- The loan shall be charged a nominal interest of 10% per annum / year. First year’s interest shall be deducted in advance from the proceeds of the loan. Second year’s interest shall be included in the monthly amortizations.
Delinquency Interest
- If a member fails to pay the SSS loan amortization remittance on due date, the said loan shall bear a penalty of 1% per month which is called the delinquency interest.
Services Fee
- While some of you didn’t mind about any additional charges on your loan if you fail to pay on time, there is actually another form of payment which you should make if that is the case. Please note that a service fee of 1% of the loan amount shall be charged and deducted from the proceeds of the loan.
SIR/MADAM,
PLEASE SEND ME MY SALARY LOAN BALANCE SO THAT I CAN PAY FOR THE DUES BECAUSE I’M HERE AT QATAR.
my SSS 33-1883526-5
MR ERNESTO ALVA JR
i want to know how much the total of my payment to sss,several years i was take a loan,but i fail to pay,could you pls give me feedback,so that i know how much i can pay,for my last loan,this is my no.03-9678334-5 thank you,i will wait your reply.
hi,
please send me a copy of my loan payments. have difficulty also in logging in with sss.gov.ph. need your help. my sss number is 10-0454747-4
I want to know how much the total of my payment to sss,several years i was take a loan,but i fail to pay,could you pls give me feedback,so that i know how much i can pay,for my last loan,this is my no.33-33483362 thank you very much
have a nice day!!!!! i want 2 know much the total payment of my salary loan last sept. 2005 my last loan my sss no 33-64654050 ty very much
I have heard that there is condemnation of penalty charges for the interest for loans not paid for more than a year. I would like to know if this is correct. I would like to avail of it so that I can pay the remaining amount of my due. My SSS number is 06-1683822-6.
Thank you.