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One benefit of the application process is the ease of filing online via the member’s SSS electronic account. Loan payment can be through any SSS Branch or online payment channels, such as GCash and PayMaya.
Can I pay SSS loans via GCash?
Log in to your GCash app and navigate to “Pay Bills.” Select “Government” from the list. Select “SSS Contribution.”
How do I pay my SSS condonation down payment?
For the installment scheme, members must pay a down payment equivalent to at least 10 percent of the consolidated loan within 30 calendar days after receiving the approval notice. Meanwhile, they can pay the remaining balance for up to 60 months, depending on the amount.
How can I pay my SSS consolidation?
How can members pay their SSS loans under the program? Members may pay their consolidated loan through a one-time payment within 30 calendar days upon the receipt of an approval notice. Alternatively, they may also opt to pay through installment.
Where can I pay my SSS restructured loan Related Questions
What is the SSS condonation payment method?
For one-time payment, employees should settle their consolidated loan within 30 days from the receipt of the notice of approval while for installment plan, the member will be required to pay at least 10% of down payment of the consolidated loan amount within 30 calendar days from the receipt of the notice of approval.
Is SSS loan restructuring program still available?
Regino urges members with past-due loans to avail of the Short-Term Member Loan Penalty Condonation Program (STMLPCP) or Pandemic Relief and Restructuring Program 5 (PRRP 5) before it ends on May 14, 2022.
Can I pay my loan through GCash?
Yes! You may pay your loan in full through the GLoan feature in the app. You can check the total amount that you need to pay through your amortization schedule or by simply multiplying your monthly due amount by your remaining months to pay the loan.
Can I pay my SSS loan without PRN number?
This could take a while before you get your PRN, and as mentioned earlier, you can’t pay your SSS contribution or loan without that.
How to pay online loan using GCash?
GET YOUR CUSTOMER ACCOUNT NUMBER (CAN). Log in to your Borrower Registration System Account using your registered email and password. OPEN GCASH APP. CHOOSE CATEGORY. INPUT BORROWER INFORMATION. CONFIRMATION. PAYMENT RECEIVED.
What will happen to my unpaid SSS loan?
Loan amortization not remitted on due date shall bear a penalty of 1% per month until the loan is fully paid.
What will happen if I Cannot pay my SSS loan?
Default in Payment of Amortization Any unpaid loan amortization shall bear a penalty of 1.5% for every month of delay. If the mortgagor fails to pay at least six (6) monthly amortizations, the SSS may immediately foreclose the mortgaged property.
What is late payment for SSS condonation?
Ten percent (10%) per annum to be charged on a diminishing principal balance and shall be amortized over the approved term of the Consolidated Loan until the account is fully paid. 2. Late payment of the monthly amortization shall be charged a penalty of one percent (1%) per month after its due date until fully paid.
How to pay SSS loan amortization?
Payment shall be made at any SSS branch office with payment facility, SSS-accredited bank, or SSS-authorized payment center. 1. The loan shall be charged an interest rate of 10% per annum until fully paid, computed on a diminishing principal balance, and shall be amortized over a period of 24 months.
Is SSS condonation program extended?
2022 dated 09 February 2022, the availment period and Terms and Conditions of the Housing Loan Restructuring and Penalty Condonation Program (PRRP 4) are hereby amended, as follows: 1. Extension of Availment Period From 22 February 2022 to 21 May 2022.
Can I pay SSS condonation in advance?
One-time Payment full payment of the Consolidated Loan within thirty (30) calendar days from receipt of the notice of approval of the Penalty Condonation Application in a single payment transaction. No staggered/partial payments are allowed even if the required payment is completed within the 30-day prescribed period.
What will happen if I restructure my loan?
Does loan restructuring affect credit scores? Yes, restructuring your debt does hurt your credit score. Therefore, if no other options are available, restructuring should be considered as the way forward. One-time loan restructuring may not affect credit scores, but that is not a given.
What is the best way to restructure loan?
Reduce your principal loan amount, extend your loan term, or switch to interest only repayments. You can also consider making more complex changes to your loan, like reducing your principal loan amount, extending your loan term or switching to interest-only repayments.
Is it good to restructure a loan?
Can damage your credit: Restructuring debt can negatively affect your credit in many ways, especially since you’re no longer paying your account as agreed. If your lender marks the debt as settled ‚Äî meaning that it was paid in full, but for less than you originally owed ‚Äî it can impact your score for years to come.
What will happen if you don’t pay your loan in GCash?
Penalty Charges A ₱100 fixed penalty fee will be charged on each unpaid installment a day after your due date, plus a variable penalty fee of 0.15% of Daily Outstanding Principal Balance that will be charged every day.
What is the maximum amount loan on GCash?
GLoan is GCash’s fast and easy cash loan solution where you can loan up to PHP 125,000 instantly.