Have you ever tried applying for a loan from SSS? Do you know how easy it is now to apply for a salary loan from SSS and how fast the proceeds arrive? Well today, I will discuss how to apply for SSS salary loan using your SSS mobile application and how fast the application gets approved as well as the arrival of your loan proceeds. By the way, this is my second SSS salary loan application and my first application used Landbank check for the proceeds of my loan takeout.
As far as I can recall, I received the check almost 3 – 4 weeks and that’s how long I suffered from uneasiness, worrying that my check might get lost along its delivery. But here in my second application, I enrolled first my personal bank account as disbursement account in SSS so that my loan proceeds will directly be deposited to it instead of using a check. If you don’t know how to do it, here’s the link for my post regarding How To Enroll Your Bank Account To Your SSS Account Online. So let’s get started.
How To Apply SSS Salary Loan Using Your Mobile Application.
Step 1
First login to your SSS account portal using your mobile app.
Step 2
Once you get to the Home page, click the My Loans button. (Boxed in yellow below)
Step 3
Under My Loans page, click the Apply For Salary Loan tab.
Step 4
Upon clicking the Apply For Salary Loan tab, you will see the total loanable amount you are entitled with. This also includes the bank account at which your proceeds will be deposited, your company and your Employer ID. Then tick the I agree to the Terms and Conditions.
Step 5
Then the SSS mobile app will display the Terms and Conditions statement for Salary loan as well as the eligibility requirements as shown below. On its bottom, just click the ACCEPT button to continue.
Step 6
Then you will be re-directed back to the previous page upon clicking the ACCEPT button. Just click the PROCEED button.
Step 7
Then a prompt will appear reminding to make sure that your contact information is updated. If you are not sure whether your contact is updated, you can go and check it under My Information tab. Else, just click the OK button to continue.
Step 8
Afterwards, the mobile app will show you the disclosure statement of your loan application. The statement will contain your loan amount, service fee, advance interest, balance of previous loan if you have and the net proceeds of the loan. It also shows the summary of your monthly payments and obligation to completely pay your loans. After you have read the statement, just click the SUBMIT button.
Step 9
Next, the SSS mobile app will prompt the Certification, Agreement and Promissory Note statement. This will include your Loanable amount, Net Proceeds and the bank account for disbursement. (My net proceeds here is not equal to loanable amount because I still have my previous salary loan from SSS). Then just click the SUBMIT button.
Step 10
After clicking the SUBMIT button, your application will be submitted to SSS for processing. However, your employer has to certify first your application before SSS can proceed to your loan approval.
Step 11
If you will check your Salary Loan Status under My Loan page, you will see there that your application is for Employer Certification. You need to inform immediately your HR regarding your application so it will be certified on time. (Take note that this certification has expiration)
Step 12
Once your HR certified it, your application will now be encoded for validation.
Step 13
After a day, my application has been granted. Yay! I will just have to wait for my proceeds to get deposited in my enrolled disbursement account.
Upon checking my Metrobank transaction history, I found out that the proceeds were deposited to it on November 4. So from October 30 of my salary loan application, it just took 5 days for my loan proceeds to get deposited in my disbursement account. That 5 days is a good improvement compared to the old system that uses checks.
Thanks so much for this!!!!
Hi Jen D,
You are so welcome! Thanks too!
Wow, very helpful information. Thank you, we appreciate it.👌❤️