UnionDigital Bank, the digital banking arm of Union Bank of the Philippines, has become the first participating financial institution (PFI) of the Social Security System (SSS) to roll out SSS LoanLite, giving qualified members access to microloans directly through the UD app.
The program offers loans ranging from ₱1,000 to ₱20,000, with eligibility and loan amounts determined by a member’s SSS record. The initiative places particular emphasis on making short-term financial support more accessible to Filipinos, including Overseas Filipino Workers (OFWs).
SSS LoanLite brings microloans into the UD app
Eligible members can apply for SSS LoanLite after opening a UD Save account, with the entire borrowing process handled through the UD app.
Loan terms range from 15 to 90 days, while the application displays the applicable loan amount, net proceeds, fees, and repayment schedule before a borrower accepts the offer.
The loan carries an 8% annual interest rate, equivalent to approximately 0.67% per month, alongside applicable transaction and add-on fees.
Rather than receiving the approved loan amount in full, applicable interest and fees are deducted from the proceeds. The remaining amount is then credited directly to the borrower’s UD Save account after successful disbursement.
Multiple ways to repay
UD also provides several repayment options designed to let borrowers settle their SSS LoanLite obligations through digital banking channels.
Borrowers can fund their UD Save account before the due date for auto-debit, or make payments through InstaPay or PESONet using another bank or e-wallet.
The loan journey also displays repayment details and schedules, giving borrowers the information they need to plan their payments before accepting the loan.
Built with OFWs in mind
For UD, the rollout is aimed at addressing situations where Filipinos need relatively small amounts of money without navigating a more complicated borrowing process.
“SSS LoanLite is a gateway to financial empowerment for Filipinos,” said Danilo “Bong” Mojica II, President and Chief Executive Officer of UD.
The executive said integrating the program into the UD app is intended to make financial support more accessible to Filipinos, particularly OFWs who may need access to funds while away from the country.
Beyond LoanLite, a UD Save account also provides access to everyday banking functions such as saving, transferring funds, and paying bills through the same application.
A digital route to SSS-linked borrowing
The SSS LoanLite rollout adds another digital option for qualified SSS members seeking smaller, short-term loans.
With loan amounts capped at ₱20,000 and repayment periods of up to 90 days, the product is positioned around immediate financial needs rather than larger, long-term borrowing.
For eligible members, the ability to apply, review loan costs, receive proceeds, and manage repayment through the UD app puts the entire borrowing process in one digital platform.
