How To Apply For SSS Conso Loan
SSS Consolidation of Past Due Short-Term Member Loans with Condonation of Penalty, commonly known as the SSS Conso Loan Program, is a special financial assistance initiative by the Social Security System (SSS) in the Philippines. Introduced on October 4, 2022, this program is designed to help members settle their overdue short-term loans by combining their outstanding balances into a single loan and waiving accumulated penalties once full repayment is made.
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In this guide, we will discuss everything you need to know about the SSS Conso Loan Program—including who can apply, the step-by-step application process, benefits, loan terms, and repayment options. If you’re an SSS member struggling with unpaid loans, this program could be the solution you need. Keep reading to learn how you can take advantage of this opportunity.
What Is SSS Conso Loan Program
The SSS Consolidated Loan Program is a special financial assistance program for members who have unpaid short-term loans like salary loans, calamity loans, or emergency loans. Through this program, members can combine all their outstanding loans into one, making repayment easier with lower interest rates and more manageable terms.
Loan Consolidation Process
The total outstanding principal and interest from a member-borrower’s past due loans will be merged into a single SSS Conso Loan. Any unpaid penalties will be handled separately and may qualify for conditional condonation.
Process of SSS Conso Loan Application
Members who wish to apply for the SSS Conso Loan must submit their application through their My.SSS account. Below are the important details regarding the process:
- Log in to your My.SSS account.
- Navigate to the Loans section and select Consolidated Loan Application.
- Fill out the required details and review your loan eligibility.
- Submit the application and wait for confirmation.
- Monitor the status of your loan application through your My.SSS account.
Who is Eligibility For SSS Conso Loan
A member can qualify for the program if they meet the following requirements:
- Outstanding Short-Term Loans – The member must have unpaid short-term loans, including Salary Loans (such as those under the Salary Loan Early Renewal Program or SLERP), Calamity Loans, Emergency Loans, or Restructured Loans.
- Active My.SSS Account – The member must have an active My.SSS account to complete the online application process.
- No Final Benefit Claims – Members who have not yet received final benefits, such as permanent total disability or retirement, are eligible.
- Clean Record – The member should have no history of disqualification due to fraudulent activities involving the SSS.
SSS Consolidated Loan Requirements
SSS Consolidated Loan (Conso Loan) is available to members with past-due Short-Term Member Loans (STMLs) at the time of application. The following types of STMLs are covered:
- Salary Loan Program, including the Salary Loan Early Renewal Program (SLERP)
- Calamity Loan
- Emergency Loan
- Restructured Loan
Note: Other STMLs may also be included based on SSS evaluation.
A loan is considered past due if:
- The unpaid principal, interest, and penalties exceed three (3) monthly amortizations.
- There is an outstanding balance after the loan’s maturity date.
Additional Requirements
To qualify for the SSS Conso Loan, a member must:
- Not have received final benefits such as permanent total disability or retirement benefits.
- Not be disqualified due to fraud committed against the SSS.
- Have an active My.SSS account.
Where to Pay Your SSS Consolidation Loan
You can pay your SSS Consolidation Loan through various convenient channels:
- SSS-Accredited Banks – Visit partner banks that accept SSS loan payments.
- Non-Bank Collection Partners – Payments can be made at Bayad Centers, SM Bills Payment counters, and other authorized payment centers.
- Online Payment Platforms – Use MYEG, the SSS Mobile App, or other digital payment channels to settle your loan anytime, anywhere.
SSS Conso Loan: Penalty Condonation & Payment Options
SSS Conso Loan can be settled through one-time payment or installments, with penalty condonation depending on the payment method.
One-Time Payment
- Pay in full within 30 days of approval to get 100% penalty waiver.
- Loans up to ₱5,000 must be paid in one-time payment.
Installment Plan
- Minimum 10% down payment within 30 days of approval.
- Remaining balance payable in 6 to 60 months, depending on the loan amount.
- Higher down payments and shorter terms are allowed.
Penalty Condonation
- Down payment percentage of penalty is waived upon payment.
- Full penalty waiver upon complete loan payment within the agreed term.
- Unpaid loans at the end of the term will have penalties reinstated.
- Unpaid balances will be deducted from retirement, disability, or death benefits.
SSS Conso Loan Program: Settle Your Past-Due Loans Without Penalties
The SSS Conso Loan Program offers a great opportunity for members to settle their past-due loans without additional penalties. This special program allows individuals to clear their outstanding balances and regain financial stability. Take advantage of this chance to manage your loans more effectively and secure your financial future.
Benefits of the SSS Conso Loan
- Penalty Waiver: Once the loan is fully paid, all penalties will be waived.
- Flexible Repayment Terms: Borrowers can enjoy extended payment periods, making repayment more manageable.
- No Service Fee: Applicants are not required to pay any additional service charges.
- Hassle-Free Application: The process is simple and convenient for members.
- Restoration of Good Standing: Members who settle their loan regain their good standing with the SSS.
