The Social Security System (SSS) and Rizal Commercial Banking Corporation (RCBC) have launched SSS Loan Lite, a digital micro-loan program that gives qualified SSS members access to short-term loans.
RCBC’s DiskarTech mobile app powers the program. Qualified members can borrow between PHP1,000 and PHP20,000, depending on their recent monthly salary credits and the program’s guidelines.
Loans have repayment periods of 15 to 90 days and carry an 8% annual interest rate.
To qualify, members must have at least 12 months of posted contributions. Those seeking the maximum loan amount must have at least 36 total monthly contributions, including six contributions posted within the 12 months before applying.
Applications, credit evaluation, approval, and loan disbursement will be handled through participating financial institutions. Approved loan proceeds will be credited to the member’s applicable account.
SSS members with an RCBC-issued MySSS card can have their loan proceeds credited directly to their accounts.
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