Friday, April 20, 2018

How to Apply SSS Salary Loan as a Voluntary Member


SSS Salary Loan Application


The salary loan application process at the SSS office is not really complicated.

It is just that, it could consume much of our time, especially if we have to fall in line and wait for our turn. 

But for someone who is in need, anything is worth taking, right?

I actually applied for a salary loan online, but it was not approved due to the reason that my previous employer did not approve my loan application.

I already resigned from work when I applied for a salary loan online but my membership status was still “employed”, thus, my loan application needed an employer’s approval.

I already knew that my application would be rejected but I pushed through the process to know the outcome. 

And yes, it was rejected and that was why I went to the SSS office to apply for a salary loan application since there is no option in the SSS portal to change the membership status to be able to utilize the service available for self-employed and voluntary members.

By the way, employers are given a timeframe to respond and approve the salary loan application. Even if they have not responded yet, but the timeframe has passed, the online loan application will still be rejected.

So, I advise that you also notify your employer about your online loan application, just so they will know and make the appropriate action.

It could have been more convenient for me if my online salary loan application was approved. Since there are issues I cannot fix online like changing my membership status, I decided to go to the SSS office.

Inquire to the SSS Staff


I immediately look for the receptionist the moment I enter the SSS building to inquire how to apply for a loan as a self-employed member.

I did not know about Voluntary Membership at that time that is why I inquired about Self-Employed Membership. I was told to go to the public assistance desk first to verify if I can avail of the salary loan though I had stopped working. It was then the time I was advised to change my membership status by paying first as a voluntary member before I can apply for the salary loan.

A previously employed member can continue to pay monthly contributions as a voluntary member to further avail of SSS benefits.

I resigned from work last November 2017 and I personally file my loan application last March 2018 which means that there are no contributions paid and posted from December 2017 to March 2018. Since I was told to pay first as a voluntary member to be able to avail of the salary loan, I decided to pay for January to March 2018. Good thing that self-employed and voluntary members do not have to pay the contributions monthly, but can pay quarterly or every three months.

Get a PRN


I really wanted to avail of the salary loan for our carwash business, thus, I decided to pay for the unpaid months.

I immediately went to another desk to get a Payment Reference Number (PRN) to be used in paying to the teller.

PRN is to be used when making payments of contributions for instant notification and posting of contributions. You can actually get your own PRN via the SSS website.

While getting the PRN, I was asked for what months I would be paying. I opted to pay for 3 months and also opted for a lower premium at the time. I was also advised to go to the express lane after paying to verify my loan eligibility.

Verify Your Loan Eligibility


After paying to the teller, I got priority # for Express Lane. When it was my turn, I was informed that I am eligible to apply for a salary loan with a certain amount.

Take Advantage of SSS Priority Lane


I immediately filled up the Loan Application Form to submit to the loan officer. I noticed that there were a lot of people falling in line for loan application. I was pregnant, so, I immediately went to the priority lane which is for pregnant women, persons with disabilities, and senior citizens.

I passed my loan application form to the priority lane attendant where I was given the loan disclosure form. I was then told to get an ATM card which will be used for loan release.

Process Bank Account For  Loan Disbursement


I went to the UnionBank kiosk to get ATM application form and a priority number. I filled up the form while waiting for my turn. When called, I was then given the UnionBank e-pay card together with its pin code and was told to wait after 10 working days to receive the borrowed amount through ATM.

I submitted photocopies of the front of the ATM Card and my ID to the e-pay card attendant and finally submitted the loan application form to the loan department for processing.

So, that was it. I was able to receive my loan disbursement through my Unionbank ATM Card. Nothing is really complicated for someone who needs and determined.

My application was somehow different from others as I had to change my membership status but the process is actually the same. All SSS members who wish to apply for a salary loan need to submit the salary loan application form.

The only difference is that employed members have to go through their employers who will, in turn, process their loan application. As for self-employed and voluntary members, we have to personally file the application at the nearest SSS branch.

We just have to submit the application form and show our SSS ID or any valid ID. To know more about SSS accepted IDs, you may see my post about it.

I hope my story inspires you to personally file your salary loan application. If you have further questions, don’t hesitate to post in the comments section below and I will try to get back to you as soon as I can.

No comments:

Post a Comment