Republic of the Philippines

SOCIAL SECURITY SYSTEM

East Avenue, Diliman, Quezon City
Tel. Nos. (02) 8709-7198, (02) 8920-6446 to 55 Fax No. 8924-3445
E-mail: member_relations@sss.gov.ph Website: http://www.sss.gov.ph

NOTICE OF APPROVAL
Consolidated Loan

(Installment Plan)
10/24/2022
Name of Member-Borrower: RAPAS, RUDERIC CADIGAL
SSS Number: 3320248536
Loan Account Number: R6202210242025463

Please be informed that your application for the Consolidated Loan Program with Condonation of Penalty has been approved.

In this regard, kindly pay the following:

1) 10% Downpayment

• 10% of the total consolidated loan (sum of outstanding principal and interest of all qualified delinquent loan/s) amounting to

FOUR THOUSAND THREE HUNDRED SIX PESOS AND SIXTY-TWO CENTAVO/S (Php 4,306.62), on or before 11/23/2022

2) 90% Installment Plan (Restructured Consolidated Loan, 10% interest p.a.) (RCL)

• Monthly installment amounting to ONE THOUSAND TWO HUNDRED FIFTY PESOS AND SIXTY-SIX CENTAVO/S (Php

1,250.66), from 01/31/2023 to 12/31/2025.

• A penalty of 1% per month shall be charged against Consolidated Loan’s unpaid amortization after its due date until fully paid.

10% of penalty amounting to FOUR THOUSAND THIRTY-FIVE PESOS AND NINETY-SIX CENTAVO/S (Php 4,035.96) shall be

condoned upon full payment of the 10% downpayment on or before 11/23/2022 while the remaining 90% penalty shall be fully condoned

upon full settlement of the Restructured Loan on or before 12/31/2025.

Failure to pay in full the downpayment on or before its due date or the Restructured Consolidated Loan on or before its last due date shall

result to default and the reimposition of uncondoned portion of the penalty. The Defaulted Consolidated Loan plus the reimposed penalty

shall become due and demandable and must be paid in full without need for demand or notice. Member-Borrower with a Defaulted

Consolidated Loan Account may avail loan renewal after two (2) years from the date of its full payment.

Further, any outstanding loan balance of the Consolidated Loan or Defaulted Consolidated Loan shall be deducted from your future SSS

benefits.

Should you have any inquiries, you may contact us through telephone number 1455 or e-mail us at onlineserviceassistance@sss.gov.ph or

member_relations@sss.gov.ph.

Respectfully,

Social Security System

THIS IS A COMPUTER GENERATED LETTER NO SIGNATURE REQUIRED
 TERMS AND CONDITIONS FOR CONSOLIDATED LOAN PROGRAM
WITH CONDONATION OF PENALTY
(SSC Res. No. 383-s.2022 dated 08 June 2022)

I. COVERAGE OF THE PROGRAM

All past due SS Short-Term Member Loan (STML) account/s as follows:

1. Salary Loan including Salary Loan Early Renewal Program (SLERP)

2. Calamity Loan
3. Emergency Loan
4. Restructured Loan

Also included in the Program are the other Short-Term Member Loans as may be determined by the SSS.

“Past due” shall mean that the loan has an unpaid obligation consisting of principal, interest, and penalties equivalent to more

than three (3) monthly amortizations, or the loan has remaining unpaid balance after its maturity.

II. EFFECTIVITY OF THE PROGRAM

The availment period of the Consolidated Loan Program shall commence on 30 September 2022.

III. TERMS AND CONDITIONS

A. ELIGIBILITY

To be eligible, the member-borrower must satisfy all of the following requirements:

1. With loan account/s that is/are past due as of the time of the Consolidated Loan application;
2. Has not been granted any final benefit, i.e. permanent total disability or retirement;
3. Has not been disqualified due to fraud committed against the SSS;
4. With active My.SSS account

B. CONSOLIDATED LOAN AMOUNT

All outstanding principal and interest of the member-borrower’s past due loan/s shall be combined into one (1) Consolidated

Loan.

The unpaid penalties shall be consolidated separately and shall be subject to conditional condonation

C. PAYMENT TERMS

Member shall be allowed to pay in full or installment.

1. One-time Payment – full payment of the Consolidated Loan within thirty (30) calendar days from receipt of the notice of
approval of the Consolidated Loan Program Application.

Consolidated Loan amount of up to Five Thousand Pesos (P5,000) shall be for One-Time Payment only.

2. Installment Plan –

a. Downpayment of at least ten percent (10%) of the Consolidated Loan amount within thirty (30) calendar days from

receipt of the notice of approval of the Consolidated Loan Program Application. However, a higher percentage of

the Consolidated Loan may be elected as downpayment.

b. The remaining balance shall be payable in equal monthly amortization based on loan range below.
 Consolidated Loan Maximum
Remaining Balance Term

Above P 5,000 to P 10,000 6 months

P 10,001 to P 18,000 12 months
P 18,001 to P 36,000 24 months
P 36,001 to P 54,000 36 months
P 54,001 to P 72,000 48 months
More than P 72,000 60 months

The member may pay earlier than the Maximum Term by choosing a shorter payment term specified by the

system or may choose to pay in full at any given time during the installment period. In the event that the member

applies for retirement or total disability benefit claim, or death benefit claim application by his/her beneficiary/ies,

any unpaid Consolidated Loan balance, consisting of principal and interest with the applicable amount of penalty

condoned, shall be deducted from the benefit proceeds.

D. INTEREST RATE AND PENALTY OF THE CONSOLIDATED LOAN UNDER INSTALLMENT PLAN

1. 10% per annum to be charged on a diminishing principal balance and shall be amortized over the approved term of the
consolidated loan until the account is fully paid.

2. Late payment of the monthly amortization shall be charged a penalty of 1% per month after its due date until fully paid.

E. CONDITIONAL CONDONATION

1. Under One-time Payment Term – 100% of the consolidated penalty shall be condoned upon full payment of the
Consolidated Loan within the approved payment period.

2. Under Installment Plan – penalty proportionate to the amount paid shall be condoned as follows:

2a. Upon payment of the required downpayment within the approved period. Penalty proportionate to the percentage

of downpayment shall be condoned.

2b. The remaining amount of penalty shall be fully condoned after full payment of the outstanding Consolidated Loan

within the approved terms and conditions.

The balance of the Consolidated Loan should be zero at the end of the term. Otherwise, the Consolidated Loan

account shall be deemed a defaulted account. Likewise, the uncondoned portion of the penalty shall be reimposed and

shall become due and demandable.

F. DEFAULT

1. The Consolidated Loan shall be in default in any of the following instances:

a. Failure to pay in full the agreed one-time payment or downpayment within the approved period;

b. Non-payment of obligation equivalent to more than six (6) accumulated monthly amortizations;

c. Failure to pay in full the installment plan within the approved term;

d. Commission of any fraudulent acts against or violation of any regulations and guidelines of the Social Security
System (SSS).
 2. The full amount of the defaulted Consolidated Loan, including the uncondoned portion of the penalty, shall become due

and demandable and must be paid in full without need for demand or notice.

3. The member-borrower shall be allowed to re-apply to another Consolidated Loan Program to continuously enjoy waiver

of penalty, subject to applicable sanction on loan renewal. In case of re-application, the defaulted account shall be

closed and a new Consolidated Loan account shall be setup.

G. DEDUCTION OF A DEFAULTED CONSOLIDATED LOAN FROM BENEFITS

- In the event of default, the outstanding balance of the Consolidated Loan, composed of unpaid principal and interest, shall be
collected from the member-borrower through deduction from any benefit that may now or hereinafter be due to him/her, or
his/her beneficiary/ies, that shall include short-term benefits (sickness, maternity and partial disability) and final benefit
(retirement, total disability or death), as authorized by the SSC.

Any remaining unpaid balance of the defaulted Consolidated Loan shall continue to accrue applicable interest and penalties
until fully settled.

H. LOAN RENEWAL

1. Member shall be allowed to avail of a new loan program after three (3) months from the date of full payment of the
Consolidated Loan.

2. Member-borrower with defaulted Consolidated Loan shall be allowed to avail of a new loan program after two (2) years
from the date of full payment of the defaulted Consolidated Loan.

I. OTHER CONDITIONS

Submission of Consolidated Loan Application shall be through the member-borrower’s My.SSS account.

R.A.3765, OTHERWISE KNOWN AS "TRUTH IN LENDING ACT"

A DISCLOSURE STATEMENT ON LOAN TRANSACTION SHALL BE ISSUED BY SSS TO THE
MEMBER-BORROWER UPON APPROVAL OF HIS/HER CONSOLIDATED LOAN APPLICATION.

This is a system-generated form.

 Republic of the Philippines
SOCIAL SECURITY SYSTEM

DISCLOSURE STATEMENT ON CONSOLIDATED LOAN PROGRAM

WITH CONDONATION PENALTY

(As Required under R.A. 3765 Truth in Lending Act)

Name of Member-Borrower: RAPAS, RUDERIC CADIGAL
SSS Number: 3320248536
Loan Account Number: R6202210242025463

1. DETAILS OF CONSOLIDATED LOAN APPLICATION as of: 10/24/2022

Total Consolidated Loan Amount 38,759.54

a. Preferred % Down Payment (DP) 10%
Amount of DP 4,306.62
DP Due Date 11/23/2022
b. Remaining % Consolidated Restructured Loan 90%
Restructured Consolidated Loan Amount Php38,759.54

2. SCHEDULE OF PAYMENTS

Installment Term (No. of months) 36

Applicable Month Due Date Amortization Interest Principal Outstanding

Principal Balance
Dec-22 31-Jan-23 1,250.66 323.00 927.66 37,831.88
Jan-23 28-Feb-23 1,250.66 315.27 935.39 36,896.49
Feb-23 31-Mar-23 1,250.66 307.47 943.19 35,953.30
Mar-23 30-Apr-23 1,250.66 299.61 951.05 35,002.25
Apr-23 31-May-23 1,250.66 291.69 958.97 34,043.28
May-23 30-Jun-23 1,250.66 283.69 966.97 33,076.31
Jun-23 31-Jul-23 1,250.66 275.64 975.02 32,101.29
Jul-23 31-Aug-23 1,250.66 267.51 983.15 31,118.14
Aug-23 30-Sep-23 1,250.66 259.32 991.34 30,126.80
Sep-23 31-Oct-23 1,250.66 251.06 999.60 29,127.20
Oct-23 30-Nov-23 1,250.66 242.73 1,007.93 28,119.27
Nov-23 31-Dec-23 1,250.66 234.33 1,016.33 27,102.94
Dec-23 31-Jan-24 1,250.66 225.86 1,024.80 26,078.14
Jan-24 29-Feb-24 1,250.66 217.32 1,033.34 25,044.80
Feb-24 31-Mar-24 1,250.66 208.71 1,041.95 24,002.85
Mar-24 30-Apr-24 1,250.66 200.02 1,050.64 22,952.21
Apr-24 31-May-24 1,250.66 191.27 1,059.39 21,892.82
May-24 30-Jun-24 1,250.66 182.44 1,068.22 20,824.60
Jun-24 31-Jul-24 1,250.66 173.54 1,077.12 19,747.48
Jul-24 31-Aug-24 1,250.66 164.56 1,086.10 18,661.38
Aug-24 30-Sep-24 1,250.66 155.51 1,095.15 17,566.23
Sep-24 31-Oct-24 1,250.66 146.39 1,104.27 16,461.96
Oct-24 30-Nov-24 1,250.66 137.18 1,113.48 15,348.48
Nov-24 31-Dec-24 1,250.66 127.90 1,122.76 14,225.72
Dec-24 31-Jan-25 1,250.66 118.55 1,132.11 13,093.61
Jan-25 28-Feb-25 1,250.66 109.11 1,141.55 11,952.06
Feb-25 31-Mar-25 1,250.66 99.60 1,151.06 10,801.00
Mar-25 30-Apr-25 1,250.66 90.01 1,160.65 9,640.35
Apr-25 31-May-25 1,250.66 80.34 1,170.32 8,470.03
May-25 30-Jun-25 1,250.66 70.58 1,180.08 7,289.95
Jun-25 31-Jul-25 1,250.66 60.75 1,189.91 6,100.04
Jul-25 31-Aug-25 1,250.66 50.83 1,199.83 4,900.21
Aug-25 30-Sep-25 1,250.66 40.84 1,209.82 3,690.39
Sep-25 31-Oct-25 1,250.66 30.75 1,219.91 2,470.48
Oct-25 30-Nov-25 1,250.66 20.59 1,230.07 1,240.41
Nov-25 31-Dec-25 1,250.66 10.25 1,240.41 .00
Total 45,023.76 6,264.22 38,759.54
3. EFFECTIVE INTEREST RATE: 10.47% per annum

4. CONDITIONAL CHARGES MAYBE IMPOSED

a. Condonable penalties amounting to Php40,359.59 shall be condoned upon full payment ofthe loan within the approved term,
otherwise, the uncondoned portion of the penalty shall be reimposed and shall become due and demandable.
b. Defaulted Consolidated Loan - Consolidated Loan shall be in default in any of the following instances:
- Failure to pay in full the agreed one-time payment or downpayment within the approved period;
- Non Payment of obligation equivalent to more than six (6) accumulated monthly amortization;
- Failure to pay in full the approved installment plan within the approved term
- Commission of any fraudulent acts against or violation of any regulations and guidelines of the SSS
c. The full amount of the Defaulted Consolidated Loan, including the uncondoned portion of the penalty, shall become due
anddemandable and must be paid in full without need for demand or notice.
d. Late payment of the monthly amortization shall be charged a penalty of 1% per month after its due date until fully paid.

THIS IS A COMPUTER GENERATED LETTER NO SIGNATURE REQUIRED

 Republic of the Philippines
SOCIAL SECURITY SYSTEM

LIST OF QUALIFIED LOANS UNDER CONSOLIDATION

OF SHORT-TERM MEMBER LOAN WITH CONDONATION OF PENALTY PROGRAM
Statement as of 10/24/2022

MEMBER-BORROWER INFORMATION
SS Number: 3320248536
Name: RAPAS, RUDERIC CADIGAL
Address: PUROK FLORDELIZ CONSOLACION SOGOD
SOUTHERN LEYTE 6606
Date of Birth:

STATEMENT OF LOAN BALANCES FOR ELIGIBLE ACCOUNT/S

LOAN TYPE DATE GRANTED LOAN AMOUNT CONDONABLE AMOUNT
PENALTY INTEREST PRINCIPAL TOTAL
SALARY 01/28/2010 19,000.00 40,359.59 24,066.16 19,000.00 43,066.16
TOTAL 24,066.16 24,066.16 19,000.00 43,066.16

Approved Payment Term: INSTALLMENT

CONOLIDATED LOAN DETAILS (10% DOWNPAYMENT) CONSO LOAN INSTALLMENT PLAN DETAILS (90% INSTALLMENT)
Loan Amount: 4,306.62 Remaining% Loan Amount: 38,759.54
Amount Due: 4,306.62 Monthly Due: 1,250.66
Terms in days: 30 days Terms in months: 36
Due Date: 11/23/2022 First Amortization Month: 12/01/2022
Condonable Penalty: 4,035.96 First Amortization Due Date: 01/31/2023
Last Amortization Due Date: 12/31/2025
Interest Rate per annum: 10.47%
Condonable Penalty: 36,323.63

CERTIFICATION AND UNDERTAKING

I declare that:
1. I have reviewed and attest to the completeness and correctness of theQualified Loans Under Consolidation of Short-Term Member
Loan with Condonation of Penalty Program including its posted payments. Any payment for posting after the approval of the application
for Conso Loan shall be applied to the active Conso Loan account thereafter;
2. In case of default, I hereby authorize the SSS to collect or withhold an amount equivalent to the outstanding obligation of the Conso
Loan from any benefit or asset that may now or hereafter be due to me in the possession of SSS, upon default of any of the terms and
conditions of the loan agreement. Likewise, I understand that any remaining unpaid balance of the Conso Loan shall continue to accrue
applicable interest and penalties until fully settled.
3. I agree that the information collected through this form shall be used and retained by the SSS for the processing of my Consolidation of
Short Term Member Loan with Condonation of Penalty Application and for the establishment, exercise or defense of SSS' legal claims
against me in the event of non-payment of my Conso Loan;
4. I attest that the information and statements provided in this form and in the attached List of Qualified Loans, Notice of Loan Approval
and Disclosure Statement (applicable only for installment term) for Consolidation of Short Term Member Loan with Condonation of
Penalty Program, which is an integral part of this application, are true and correct; and
5. I unconditionally agree to the TERMS AND CONDITIONS of the Consolidation of Short Term Member Loan with Condonation of Penalty
Program attached to this application.

THIS IS A COMPUTER GENERATED LETTER NO SIGNATURE REQUIRED