Starting July 2025, members of the Social Security System (SSS) with clean records can expect relief in their loan payments as the agency cuts down its interest rates.
President Ferdinand Marcos Jr. announced the rate reduction during the 123rd Labor Day celebration held in Pasay City. Under the new scheme, interest rates will drop from the current 10 percent to 8 percent for salary loans and 7 percent for calamity loans.
“Sa tulong ng SSS… makakakuha ng loan sa mas mababang interes,” Marcos said in his speech, emphasizing how the move aims to ease the financial burdens of workers.
Meanwhile, SSS Chief of Staff Atty. Jonathan Gary Jimenez shared in an INQUIRER.net report that an official statement will be released soon to detail the implementation of the lowered rates.
