How many days SSS salary loan release take after I apply for the loan? What could be the possible delays and what can I do in case I don’t receive my loan amount within the prescribed period of time? These are the most frequently asked questions that I am about to address below.
But to give you a quick idea, it usually takes about three to four business days to process your SSS salary loan. However, there could be a few reasons for a potential delay. Keep reading down below to find out more.
Once you apply for the SSS Salary loan, the processing takes about three to five business days. It means that within three to five days of your loan application, you will get your loan amount via your enrolled disbursement account.
However, there are a few factors that could lead to a potential delay as discussed down below.
1. Volume of Applications
If there is an overload of SSS salary loan applications, the processing could take longer than the usual time. It happens during peak periods and times of high demand. So, you can expect a slight delay in the processing of your Salary loan.
2. Completeness And Accuracy Of Your Documents
Another factor that could possibly delay your SSS loan processing is the inaccuracies and incompleteness of your required documents. So, you must ensure that you provide all the necessary documents on time so that you do not have to face any needless delays in loan processing.
3. Disbursement Method
The disbursement method that you opt for also determines how long it might take to process your loan amount. Bank transfers are usually the fastest method, given you have provided an enrolled and verified account to SSS. Other disbursement methods such as E-wallets and remittance centers are more time-consuming.
SSS Salary Loan Approved But Not Received
If your SSS salary loan has been approved but you still haven’t received the loan amount then you must contact SSS officials. There are a few ways in which you can contact them. For instance, you may call them on their SSS hotline at 1455, send them an email at their official email address [email protected], or reach out to them through their social media accounts.
How many days is the SSS salary loan released?
SSS salary loan release usually takes about three to five business days. It means that within three to five business days of applying for the loan, you will receive your loan amount.
So, it is absolutely safe to say that you will receive your SSS salary loan within three to five business days of applying for the loan.
However, there are a few factors that could lead to a delay in the processing of your loans such as the volume of applications, completeness, and accuracy of your documents, and the disbursement method you opted for.