Digido Philippines - 0% interest rate for the 1st time loan up to PHP 25.000, if borrower pay back in due time. Apply loan online with Digido and solve your urgent financial issue right now. If you need cash loan in a 15 minutes, Digido is the right solution.
CashXpress Philippines (CXPH) - apply loan online and get you money on bank account in 10 - 15 minutes.
Loanonline Philippines doesn´t provide loans. Service only recommends the best options for it to Filipinos.
Finbro Philippines is a reliable micro finance company that can solve urgent financial issues in 15 minutes for people all over the country. Apply for the 1st loan up to PHP 15.000
OLP or Online Loan Pilipinas - apply your online loan 24/7. Your loan can be for any purpose, just read terms before, and, if everything ok, get your money with the help of microloan company.
Moneycat Philippines is the online lender which provides fast salary loans for Filipinos. First loan with the 0,01% interest rate. For repeated loan is up to 11,90% per month. You can apply a loan online where never you are.
Kviku is the international lender that support online loans in the Philippines. The number of service customers constantly growing. Kviku provides installment loans for Filipinos. Want to know mode details? Follow the AdvanceLoans.ph article and find out more about this finance service: how to register, what are the terms, reviews, requirements, etc.
What is SSS Loan? How to apply for an SSS salary loan in the Philippines? What is SSN (Social Security Number)?
Table of Contents
What is SSS Loan?
Social security is very important for any country and citizen. The basis of social security is a social insurance program. This program provides protection for different situations in life: diseases, poverty, starts, etc. SSS is a Social Security System in the Philippines. With its help, you can apply for an SSS loan.
Social Security Number
The social security number (SSN) is unique and it is assigned to every resident for life. This number is required when applying for an SSS payday loan too.
To register with SSS you first need to fill out the SS-E-1 form (for those who already work) and the SS-RS-1 form (for self-employed members).
Also, there is still an option to fill out the SS NW-1 form, presenting it with the original/certified copy of any of the primary or secondary documents.
- Primary documents are birth certificates, passports, driver’s licenses, etc.
- Secondary documents are a credit card, an identity card, a certificate of alien registration, etc.
Don’t forget, that you can apply for the SSN online. Your social security benefit is calculated on the basis of the income provided by your employer to the social security number. Also, it can be provided by you. Your social security benefit is calculated on the basis of the income provided by your employer to the social security number.
- Check that your name matches the name on the social security card itself, this is very important.
- Because it can create some problems when applying for a loan before paycheck according to SSS requirements.
- If you have changed or are planning to change your name or surname, you must do so on the social security card.
Social Security Allowance
In the Philippines, social security benefits are a specific percentage of your average earnings throughout your life. Those who have a small salary, get a higher percentage of average earnings and vice versa. And the poor can qualify for large sums by applying for a SSS loan. An employee who has an average salary can expect to receive a retirement benefit of 40% of his lifetime earnings.
When the social welfare system was created, it was not supposed that this would be the only source for the family after leaving the pension, through disability, in the event of death, etc.
The Social Security Benefit is an addition to the financial activities of Philippine citizens. Also, SSS credit is also a good addition and an opportunity with a non-strict requirement.
Social Security Taxes
When employed, an employer withholds social security taxes, which are transferred to the Internal Revenue Service (IRS).
The employer is obliged to transfer to the IRS a specific amount that is withheld from the salary and is obliged to inform the Social Security Service of the full amount of earnings of all employees.
If you are self-employed, you must pay social security taxes when you file your tax return. The IRS provides all income information to Social Security. The interest rate payment is equal to the sum of the employee’s and the employer’s share. Additionally, there are special tax deductions that are used to reduce the tax burden.
Who Can Apply for a SSS Loan
There are a number of requirements for obtaining an SSS loan:
- You should be a member of the SSS that currently is active
- You should not be employed or make at least 36 monthly payments; 6 payments must be made within the last 12 months before the lone application
- Age should be less than 65 years and a person has not yet received any financial benefits cause of exact reasons
- Your employer should be aware of all the contributions you made
- Also, the person should not be disqualified, a cause of some previous fraud activities against the SSS
How to Get SSS Loan
- Visit the official SSS website and register an account with a personal information
- Only after you will be able to apply for the SSS loan
- Don’t forget about the requirements the system shows you in the order you could understand all options about your rights to get a loan
- After you should agree on all terms of the contract and only then the user can enter the desired sum of money
- To get the final answer you need to wait near one week or more
- After you will have the 1st check and receive a call
If you have everything ok with the documents, then there are no difficulties in getting an SSS loan quickly and effortlessly. There are 2 ways to pay for SSS loans: online banking (if the bank is an SSS partner) or Bancnet.
Additional Useful Links
- More about SSS Loan – https://www.youtube.com/user/MySSSPhilippines
- SSS Website – https://www.sss.gov.ph
- FB SSS Philippines – https://www.facebook.com/SSSPh
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