Philippines' SSS launches "Conso Loan" program to waive penalties for past-due short-term loans.
The Social Security System (SSS) in the Philippines has launched a loan condonation program, called "Conso Loan", to help members clear past-due short-term loans without penalties. The program consolidates past-due loans' principal and interest, and upon full payment, unpaid penalties are waived. Over half a million members have used the program, with the SSS condoning over P7.3 billion in loan penalties as of end-2023.
March 06, 2024
4 Articles