To meet the critical demand for accessible loans, UnionDigital Bank (UD), the digital banking arm of Union Bank of the Philippines, is the first participating financial institution (PFI) of SSS to launch its Micro Loan Program, also known as SSS LoanLite. Seamlessly integrated into the UD app, SSS LoanLite offers qualified SSS members—with a strong emphasis on Overseas Filipino Workers (OFWs)—convenient and immediate access to crucial funds for their urgent financial requirements.
This initiative demonstrates UD’s commitment to making banking simple, accessible, and empowering for users. “SSS LoanLite is a gateway to financial empowerment for Filipinos,” said Danilo “Bong” Mojica II, PhD, President and Chief Executive Officer of UD. “This product is about giving Filipinos, especially our OFWs, a practical way to move forward when they need it most. We know how important it is to have access to timely financial support. By integrating SSS LoanLite into the UD app, we are making that support simpler, more accessible, and within reach wherever they are in the world.”
SSS LoanLite Made Simple with the UD App
Applying for SSS LoanLite is easy and fully managed through the UD app, making the borrowing experience more convenient, accessible, and seamless for eligible SSS members. By opening a UD Save account, users gain access to loan offers as well as unlock a range of everyday banking features that allow them to save, transfer funds, pay bills, and manage their finances all in one app.
Qualified members may apply for loan amounts ranging from ₱1,000 up to ₱20,000, based on their eligible SSS record, with transparent terms and repayment options, ranging from 15 to 90 days, clearly presented during the application process.
SSS LoanLite carries an interest rate of 8% per annum (approximately 0.67% per month), plus applicable transaction and add-on fees. Applicable interest and fees are deducted from the loan proceeds, so members can review the loan amount, net proceeds, and repayment schedule before accepting their offer.
Once successfully disbursed, the net proceeds are credited directly to the borrower’s UD Save account, allowing immediate access to funds when needed.
Repayment is also designed to be simple and hassle-free through convenient payment options available within and outside the UD app, helping members stay on top of their loan obligations with ease.
Members can repay their SSS LoanLite through multiple payment options. Borrowers may fund their UD Save account ahead of their due date for auto-debit, or make payments through InstaPay or PESONet using another bank or e-wallet. Repayment details and schedules are presented as part of the loan journey to help members plan ahead and stay on top of their obligations.
A true embodiment of UD’s mantra of Kaya Mo Mode On, this partnership showcases UD’s dedication to using accessible technology to remove financial barriers, bringing essential support to Filipinos, wherever they are, and empowering them to take charge of their financial goals.
