The Social Security System (SSS) will launch a new microloan program to help members avoid predatory lenders, the Department of Finance (DOF) said.
Finance Secretary Frederick Go said the program will provide short-term, affordable loans with flexible repayment options to address members’ immediate cash needs.
Loans will range from P1,000 to P20,000 with interest rates of 8% per year and tenors of 15 to 90 days, based on each member’s average monthly salary credit.
Eligible members aged 18 to under 65 with at least 12 contributions can apply, including those with existing SSS loans within limits.
The program, developed in partnership with banks and financial institutions, is expected to pilot in the first half of 2026.
Source: PhilNews24 | January 3, 2026
DOF SAYS SSS PROGRAM SHIELDS MEMBERS FROM LOAN SHARKS
Latest from Business
Business name registrations with the Department of Trade and Industry (DTI) rose 7% year-on-year to 916,523
The Global Anti-Scam Alliance (GASA) reported that 84 percent of Filipino adults encountered scams in 2026,
The Department of Agriculture (DA) is exploring a partnership with DALI Everyday Grocery to create a
Philippine inflation surged to 7.2 percent in September, up from 6.1 percent in August and reaching
More local government units (LGUs) sought loans in August, with total borrowing requests more than doubling