Comparison of Features of Pag-IBIG & SSS Salary Loans
SALARY LOANS – Here is a comparison of the salary loan offers of Pag-IBIG Fund and the Social Security System (SSS).
Not only banking firms but as well as several private and public institutions and agencies got loan offers nowadays. They are in the pursuit of providing cash assistance to the people who are in the face of a challenge to make ends meet.
Also, most of these institutions and agencies have opened their loan offers for the big personal goals of the borrowers. Among those which have these offers is the Social Security System (SSS) and the Pag-IBIG Fund.
Both under the government, the Pag-IBIG Fund and the SSS offer salary loans to its members. It is aside from the many benefits and other loan offers the have.
The Pag-IBIG and SSS salary loans got different features although they are both multi-purpose. Each government agency has set their own eligibility standards, loanable amounts, interest rates, fees, etc.
You might love to know the features of each salary loan offer in details. Based on an article on Coins.ph, here is a comparison of the SSS Salary Loan and the Pag-IBIG Salary Loan:
Pag-IBIG Salary Loan
- Loan Eligibility – 24 Monthly Contributions
- Loanable Amount – Up to 80% of the Total Accumulated Value (TAV)
- Interest Rate per annum – 10.75%
- Fees – 0.5% of unpaid amount every month for late payment
- Loan Processing – 1-2 Weeks
- Repayment Terms – 24 Months
Do you want to apply for the said loan offer? You may visit – PAG-IBIG SALARY LOAN – How To Apply & Requirements To Prepare.
SSS Salary Loan
- Loan Eligibility – 36 to 72 Monthly Contributions
- Loanable Amount – Up to Php 30,000.00
- Interest Rate per annum – 10%
- Fees – 1% of the total loan amount for the processing fee
- Loan Processing – 2-3 Weeks
- Repayment Terms – 24 Months
Do you want to apply for the SSS Salary Loan? You may visit – SSS SALARY LOAN: How To Apply For Salary Loan To SSS.
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