Many Filipinos have applied for a loan in SSS. Some of them still have not repaid their loan for several months or even years. If you’re one of them, you might be worried that your unpaid sss loan will increase due to interest but don’t worry. SSS loan condonation online application is now available. SSS loan condonation offers its members the chance to settle their balance without penalties and installment terms. If you want to know more about SSS loan condonation, this might help you.
SSS Loan Condonation Guidelines
Short-term loans that are included in SSS loan condonation :
- Salary Loan
- Calamity Loan
- Emergency Loan
- Salary Loan Early Renewal Program
- Restructured Loan
Who is Eligible?
- Member-borrowers:
- With past-due loans for at least 6 months as of the start of the condonation period
- Who is less than 65 years old at the end of the installment term
- Who has not been granted any final benefit such as retirement and permanent total disability
- Have not been disqualified due to fraud against SSS
- Who will file their final benefits application for retirement or permanent total disability
- Beneficiaries of deceased member-borrowers who will file death benefit applications
Types of Loan Payment:
- Consolidated Loan
- One-Time Payment or 50% Downpayment
- Restructured Loan
- 50% installment
Step-by-Step SSS Loan Condonation Online Application:
- Log in to your My.SSS account
- Apply for loan penalt condonation
- Click “E-Services”
- On the drop down menu click “Apply for Loan Penalty Condonation (STMLPCP/PRRP5)”
- Select your payment terms
- Choose from the dropdown field “Preferred Term”
- Then select “Installment”
- Review and submit your application
- Read “Terms and Condition”
- Click “Agree” and then “Submit”
- If everything goes well, your loan condonation will be approved
- Make sure to read the “Notice of Approval” and then click “Confirm”
You can pay your short-term loan payments through the following:
- Bayad Center
- GCash
- PayMaya
- RCBC
- Union Bank of the Philippines
- CashPinas
- Partner Rural Bank
- Rural Bank of Lanuza Inc.
- Security Bank Corporation
- SM Mart Inc.
If you still have an outstanding loan balance at SSS, you may consider this option. If you apply for SSS Loan Condonation, it will be easier for you to pay. Since loan condonation offers a flexible installment terms without penalties. For more information, you may contact SSS using this hotline: 1800 10 225 5777
READ:
SSS Loan Restructuring Program