Everybody may avail of the SSS salary loan, as an active SSS member and contributor you are entitled to certain privileges and benefits even if you go abroad for overseas employment opportunities. Yes, you read that right. Even OFWs (overseas Filipino workers) can avail of the same privileges as SSS members in the country.
The SSS salary loan, for example, allows you to borrow money from SSS for whatever purpose you may have in mind.
So what are the requirements? Read on and learn:
- Updated monthly contributions.
Of course, the OFW’s monthly SSS contributions must be updated before he or she can borrow any money.
For a one-month salary loan, the member-borrower must have 36 posted monthly contributions with six of which within the last twelve (12) months before the month of filing of loan application.
For two months salary loan, the member-borrower must have 72 posted monthly contributions with six of which within the last twelve (12) months prior to the month of filing of the application.
- Other important requirements.
Also, the OFW should be under the age of 65 at the time of application and has not been granted SSS final benefit (such as total permanent disability, retirement, and death). Other than that, it is equally necessary that the OFW has not been disqualified due to fraud committed against the SSS.
- Complete the application process.
After making sure that you are qualified for an SSS salary loan, it’s time to start with the application process.
You can start by downloading and filling up a Member Loan Application form. Once done, you should present your SSS ID. In case you don’t have one yet, you will need to file for an SSS card application (Form E-6).
Additionally, you should also prepare at least two valid form of identifications such as the following:
- Professional Regulation Commission (PRC)
- Unexpired Driver’s License
- Postal ID
- School or Company ID
- Tax Identification Number (TIN) card
- Seaman’s Book
- Membership card issued by private companies
- Overseas Worker Welfare Administration (OWWA) card
- Senior Citizen’s card
- Voter’s Identification card / Affidavit / Certificate of Registration
- ATM card with cardholder’s name; or with certification from the bank (if without a name).
- Credit card
- Fisherman’s card issued by BFAR
- GSIS card / Member’s Records / Certificate of Membership
- ID card issued by LGUs (Barangay/Municipal/City)
- ID card issued by the professional association recognized by PRC
- Birth Certificate
- Baptismal Certificate
- Marriage Contract
- NBI Clearance
- Pag-IBIG Member’s Data Form
- Permit to carry firearms issued by the Firearms and Explosive Unit of PNP
- PhilHealth Member’s Data Record
- Police Clearance
- Seafarer’s Registration Certificate issued by POEA
- Temporary Driver’s License issued by LTO
- Transcript of Records
- Alien Certificate of Registration
- Bank Account Passbook
- Certificate from Office of Southern / Northern Cultural Communities; or Office of Muslim Affairs
- Certificate of Licensure / Qualification Documents / Seafarer’s ID and Record Book for Maritime Industry
- Certificate of Naturalization from the Bureau of Immigration
- Life Insurance Policy
- Birth / Baptismal certificate of children.
SSS salary loan filing on behalf of a member-borrower
If the salary loan is filed by a member borrower’s authorized representative, the following documents are required:
- Member-borrower’s Member Loan Application
- Member-borrower’s SS card or any two valid IDs both with signature (at least one with photo)
- Authorized Representative’s SS card or any two valid IDs both with signature (at least one with photo)
- Letter of Authority (LOA) signed by both the member-borrower and the member borrower’s authorized representative
Meanwhile, if it is filed by employer/company’s authorized representative, they should submit the following documents:
- Accomplished Member Loan Application
- Authorized Company Representative (ACR) card issued by SSS
- Letter of Authority (LOA) from the employer and any two valid IDs both with signature and at least one with photo
- Acknowledgment stub and any two valid IDs both with signature and at least one of the IDs with photo
If filed by the member’s representative, they should:
- Present member’s SSS card or two valid IDs, one of which with photo and signature
- Authorization letter signed by the member and the representative
SSS Salary Loan Application While Abroad
OFW members currently out of the country may submit their loan applications at the SSS Representative office in the country of their location. If there is no SSS office in their location, they may instead send the application along with the supporting documents to a relative in the Philippines so that the person can file it at a local SSS branch.
Just be reminded that all documents issued abroad must receive authentication by the Philippine Consulate/Embassy. Good luck to your salary loan application!