SSS launches LoanLite microloan program via UnionDigital Bank

The Social Security System (SSS) has launched its SSS LoanLite microloan program, with UnionDigital Bank becoming the first of four participating financial institutions to offer the service via its mobile application.

Designed to promote financial inclusion and provide a safer alternative to predatory lending, the program allows qualified private-sector employees to access short-term financial assistance without the employer certification typically required for conventional SSS loans.

Eligible members can apply for loans ranging from P1,000 to P20,000, with the specific amount determined by the average of their 12 most recent monthly salary credits. Repayment terms are set at 15, 30, 60, or 90 days, with an annual interest rate of eight percent.

To qualify, applicants must meet specific requirements under SSS Circular No. 2026-005, including having at least 12 posted monthly contributions, no past-due short-term member loans, and no active SSS microloans. Other conditions include maintaining an account with an enrolled participating financial institution and complying with age and account status requirements.