QUEZON CITY — The Social Security System (SSS) announced that Rizal Commercial Banking Corporation (RCBC) now offers the SSS Micro Loan Program, also known as the SSS LoanLite, through DiskarTech app to qualified MySSS cardholders, expanding access to short-term credit for SSS members.
SSS president and chief executive officer Victor Alfonso A. Limlingan Jr. said qualified SSS members may apply for loans ranging from ₱1,000 to ₱20,000, depending on the average of their 12 latest Monthly Salary Credits (MSCs). Available repayment periods are 60 or 90 days for RCBC clients, with an interest rate of 8% per annum, equivalent to approximately 0.67% per month.
“This partnership with RCBC marks another milestone in our commitment to making SSS services more accessible and responsive to our members’ needs,” Limlingan said. “Through SSS LoanLite powered by RCBC DiskarTech, we are providing a fast, digital, and convenient financing option that empowers our members to address their immediate financial needs.”
“At RCBC, we believe financial services should be accessible and convenient for every Filipino. Through DiskarTech, qualified MySSS cardholders can now access SSS LoanLite, providing them with an affordable financing option to meet their immediate needs,” said Lito Villanueva, RCBC Executive Vice President and Chief Innovation and Inclusion Officer.
To qualify for SSS LoanLite, eligible RCBC MySSS Card holders must:
- Be at least 18 years old at the time of application and below 65 years old at the end of the loan term;
- Have at least 12 posted monthly contributions;
- Have no past-due Short-Term Member Loan (e.g., salary, calamity, or emergency loan);
- Have no pending or settled final benefit claim (e.g., retirement or permanent total disability), unless previously cancelled due to re-employment, resumption of self-employment, or recovery;
- Have no active restructured loan (or, if fully paid, the required restrictive period must have lapsed);
- Have his/her account enrolled in the RCBC DiskarTech app;
- Have no active SSS Micro Loan and have fully paid any prior microloan refinanced by a PFI; and
- Have no record of fraud against SSS.
Moreover, the MySSS cardholder should also have no past-due RCBC loan to qualify for SSS LoanLite.
Limlingan said that while 12 contributions are enough to be eligible for the SSS LoanLite, members with at least 36 total contributions—including at least six posted within the 12 months immediately before applying—qualify for higher loan amounts up to the ₱20,000 ceiling.
He said members with at least 12 monthly contributions can borrow a loanable amount equal to 11% of their average MSCs in the last 12 months.
“For example, if a member’s average MSC over the last 12 months is ₱20,000 but the member has only 12 total contributions, the loanable amount is ₱2,200 (11% of ₱20,000),” he explained.
Members with at least 36 total contributions, including at least six posted monthly contributions within the 12-month period immediately preceding the application, may qualify for the maximum loan amount of up to ₱20,000, depending on their average MSC.
Furthermore, members with existing Short-Term Member Loans (Salary, Calamity, or Emergency Loans) may still apply for SSS LoanLite, provided those loans are not past due, and they have no active SSS Micro Loan.
Repayments will be collected according to the agreed schedule through an automatic debit arrangement, which is the default collection mode. Deductions will primarily be made from the account where the loan proceeds were credited.
Loan renewal is allowed after full payment of the current microloan, as reported by the participating financial institutions.
RCBC is the second Participating Financial Institution to offer SSS LoanLite.
Limlingan emphasized the importance of expanding access to digital financial services.
“By expanding our network of Participating Financial Institutions, we are ensuring that more members can access SSS LoanLite wherever they are. This is part of our broader digital transformation agenda to make social security services more inclusive and member-centered,” he said.
