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SSS Pension Loan Application Requirements, Processing, Interest, Loanable Amount and Payment Terms
So are you a pensioner who wants to know where and how to apply for a pension loan? Well, I’ve got just the right process as listed below whatever loan you are looking for. Lending companies in the Philippines do sometimes offer loans that you didn’t even think was already being offered in branches near you.
If you are a SSS pension receiving member and you are getting it on a regular basis, then you can use that to borrow what is called as SSS pension loan. All you have to do is to submit certain requirements. Uses for this type of loan is for emergency or immediate need and your pension is still a couple of weeks or a month away. With little or only a minimal loan interest, you can already get cash loan as fast as you can imagine that it will actually depend upon the available requirements you have.
While some loan companies / lending agencies require the following documents to be submitted as listed while other lending institutions only require the listing below with the boundary line which includes the processing time or how long it will take for your SSS pension loan to get approved (approval period), processing fee, monthly interest rate, loanable amount and payment terms.
Initial Loan Application Requirements:
- SSS ID
- SSS certificate / Retirement claim form
- Latest 3 months bank statement where pension is credited
- ATM card
- Barangay clearance
- Basic documentary requirements
Loan Processing Time:
- 7 – 10 working days
- ATM Card
Monthly interest rate:
- 2% add-on
- 80% of monthly pension as amortization
- 6 to 12 months
Pension Loan Requirements
- ATM/Passbook kung saan pumapasok pension mo
- DDR o Voucher
- Barangay Clearance
- Latest proof of billing (Meralco/PLDT/tubig)
- Marriage Contract (kung survivor)
- Birth or Baptismal Certificate kung may below 21 years old na anak (photocopy)
Salary Loan Requirements
- ATM kung saan pumapasok sahod mo
- Certificate of Employment na nagsasaad na employed ka na sa kompanya mo ng hindi bababa sa 2 and a half years
- Photocopy of company ID at SSS ID and 2×2 or 1×1 picture (maker & co-maker)
- Barangay Clearance