Both these SSS Flexi-Fund and Modified Pag-ibig 2 (MP2) are savings programs offered by government agencies.
Both offer interest rates higher than those offered by banks for savings accounts and time deposits.
Both programs are guaranteed by the Philippine government.
Both are tax-free. Total savings plus their dividend or interest earnings are tax-free.
Here are the differences between the 2 programs:
Updated April 14, 2013 — SSS has increased the loan amount and has improved the rules!
Last February, my friend received from the postman her SSS educational loan check worth 15,000 pesos. She submitted her loan application on February 1, 2013 at an SSS branch. The next day, she saw on her online SSS account that her loan check was already generated. 12 days later, on February 13, she got from the postman her registered mail that contained her SSS loan check.
You can apply for this newly launched SSS Educational Loan program too.
Enroll in online SSS now. Why bother?
These are the Top 7 reasons why you need to enroll in the SSS online system called My.SSS:
Enroll in online SSS so you can check the following VERY IMPORTANT INFORMATION:
These are the insurance companies placed under receivership, conservatorship or liquidation by the Insurance Commission, as of November 15, 2012, based on a list published on the IC website.
Read how a visitor scheduled to fly back to her home abroad got mired into the pit of Homesonic in Starmall:
Homesonic – Starmall Edsa – 725-7335 – Scam
I am adding my complaint about their unethical tactics to the hundreds, possibly thousands of similar stories already on file on the internet and the Department of Trade & Industry.
It is amazing to me that with so many complaints every day (and not one satisfied customer!), this outfit is still in business — apparently pulling the same crooked stunts several times every day, preying on vulnerable widows, grandmothers, pregnant women, and elderly people.
My Story is the same as everybody else’s.
I was on my way to pick up my laundry on the afternoon of 8 Dec 2012 when a lady approached me outside the Homesonic Store in Starmall and said “We are having an anniversary giveaway so come in and get a free gift.” I said “No, I don’t need anything” The girl pulled me into the store, then pushed me down in a massage chair inside the store.
We’re glad that the SSS has improved its salary loan program. In January 2011, I wrote on this blog that SSS salary loans are not really low-cost, compared to some bank loans, such as the Credit-to-Cash of BPI Express Credit and the Easy Pay of BDO Credit Cards.
Now, finally, SSS has listened to members’ concerns, and these are the changes:
Here are peso savings accounts with no maintaining balance requirement. Check their features, and choose one or two that serve your purpose.
BPI Easy Saver Savings Account
Updated January 11, 2013
Puede mo nang iwidro ang total Pag-ibig 2 savings mo earlier than your maturity date.
You want to save and grow your money? Modified Pag-ibig II (MP2) is a great savings plan. It has advantages over regular savings accounts, time deposits, or pre-need plans.