SSS Expands Microloan Access via UnionDigital Bank App
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Insights by Echo AI
The Social Security System (SSS) has extended its LoanLite microloan program to UnionDigital Bank's mobile application, enabling qualified members to borrow up to P20,000 for immediate needs. The interest rate is 8% per annum, with repayment terms ranging from 15 to 90 days. This expansion aims to provide affordable and secure short-term financial assistance, reducing reliance on informal lending.
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