Landbank tapped for SSS microloan program
Land Bank of the Philippines (Landbank) is set to provide the digital infrastructure for the Social Security System’s (SSS) new microloan program. This is scheduled for a pilot rollout within this first half of 2026.
Through this, Landbank’s mobile banking app will feature automated eligibility checks, streamline loan processing and enable fast crediting of proceeds.
“This provides easy access to short-term financial assistance and reinforces both institutions’ commitment to digital innovation and financial inclusion,” Landbank said in a statement.
Members can also access all loan documents digitally and repay loans through Automatic Debit Arrangements or other payment channels. These will be supported by audit, security and data privacy measures.
According to the state-run lender, electronic reports will be provided to SSS for monitoring and audit purposes.
The SSS LoanLite Program will offer loans ranging from P1,000 to P20,000, depending on a member’s average monthly salary credits. Repayment terms are 15 to 90 days and the interest rate is 8 percent per year or 0.67 percent per month.
Earlier, Finance Secretary Frederick Go said the program is designed to protect pensioners from high-cost informal lending by offering a “safe, affordable and convenient” option for members facing immediate cash needs.
Landbank is now the second bank to partner with SSS for the microloan program, following Union Bank of the Philippines.
UnionBank launched its digital facility in September as part of SSS’s push for broader digitalization and financial inclusion.
“This new product clearly is something that is going to be a game changer, even for us. And what we are really hoping to bring to the table will be all our digital solutions, to make loans and credit facilities available in a more accessible, efficient way,” Landbank president and CEO Lynette Ortiz said.
