Social Security System launches microloan facility and instant card issuance

The Social Security System (SSS) has launched a new digital microloan facility called SSS LoanLite. Designed to provide accessible and affordable short-term financial assistance, the program allows qualified members to apply for loans ranging from ₱1,000 to ₱20,000. Repayment periods are set at 15, 30, 60, or 90 days, with an annual interest rate of 8%.

To qualify for LoanLite, members must be at least 18 years old and under 65 by the end of the loan term. Requirements include having at least 12 posted monthly contributions and no past-due short-term loans or pending final benefit claims. Members with at least 36 total contributions may qualify for the higher ₱20,000 loan ceiling.

Additionally, SSS members can now obtain physical MySSS Cards in approximately five minutes via 46 instant issuance kiosks located across Metro Manila, Luzon, Visayas, and Mindanao. The MySSS Card replaces the old UMID card and can be linked to financial accounts for receiving benefits and loan proceeds. Applicants must first complete an online application through their My.SSS account before visiting a kiosk. For those using Asia United Bank (AUB), a ₱250 issuance fee applies, though there are no annual or monthly maintenance fees.