PRN loans, also known as pro re nata loans, are personal loans designed specifically for medical, dental, and veterinary professionals.
What is PRN loans
What is PRN loans? These loans cater to fourth-year students, residents, fellows, and practicing doctors who may face financial challenges during their career journey. With a PRN loan, professionals in these fields can access funds to cover various expenses such as interview costs, exam fees, relocation expenses, or any other financial needs that arise.
Unlike traditional loans, PRN loans don’t require collateral and provide flexibility in using the funds as needed. Whether you’re a student, resident, or practicing professional, a PRN personal loan can offer the financial support you require during critical periods of your medical career.
What is PRN in Philippines?
The SSS payment reference number, also known as PRN, is a unique identifier that you need when making payments for your SSS monthly contributions as a voluntary member or Overseas Filipino Worker (OFW). It is a requirement for both online and offline payment channels such as Bayad Center, GCash, banks, and SSS offices.
The SSS PRN serves as a tracking number that ensures accurate posting of your contributions to your SSS account. It helps attribute the payment to the correct SS number, member, SSS amount, and applicable month. With the implementation of the PRN system, contributions are posted in real-time, meaning your payments will be reflected in your SSS account within seconds. This allows you to immediately check if your contribution has been successfully posted after making a payment.
To obtain your PRN, you can visit the SSS website and log in to your online account. After logging in, navigate to the Payment Reference Number (PRN) section and click on the Generate PRN submenu. Your pre-generated PRN will be displayed under the Payment Reference Number column. If you have previously paid contributions for the past month or quarter, SSS will automatically generate your PRN based on the Monthly Salary Credit you have previously prepaid. You can simply take note of the Payment Reference Number and proceed to pay through SSS payment partners like Gcash, Paymaya, and online banking facilities provided by various banks.
When making a payment, you will need to present or encode your PRN in the payment channels such as Bayad Center, GCash, Paymaya, or banks. If you wish to change the amount or the applicable month for your payment, you can manually create a new PRN through the SSS website.
It’s important to note that the PRN system was implemented to enhance the efficiency and accuracy of contribution posting. By using the PRN, you can easily track and manage your SSS contributions, ensuring that your payments are correctly attributed to your account.
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What is active loans with PRN for the month?
Starting from June 30, 2021, the Social Security System (SSS) will no longer accept loan payments that do not have a Payment Reference Number (PRN). This includes payments made through the Electronic Data Interchange (EDINet) facility. The PRN is a unique number generated by the system, which corresponds to a loan billing statement for individual members or employers.
From the first to the sixth day of each month, the SSS generates loan billing statements and notifications containing PRNs. These statements and notifications are sent to the registered email addresses and mobile numbers of individual members and employers. Starting on the seventh day of the month, they are also available in the PRN-Loans tab of the My.SSS portal on the SSS website.
If individual members need to modify the amount to be paid in their loan billing statement, they can do so either through their My.SSS account or by visiting SSS branches. Employers, on the other hand, can make changes only through their My.SSS account. They are also required to submit an electronic-Loan Collection List (e-LCL), which they can download from their My.SSS account for offline editing. Once the updated e-LCL is uploaded through their My.SSS account, they can proceed to pay their employees’ loans using the PRN.
When making loan payments, it is important to present the printout or screenshot of the loan billing statement containing the PRN and barcode, or the SMS notification of the PRN received from the SSS.
Please note that short-term loan payments with PRN will only be accepted at SSS branches equipped with Automated Tellering Systems (ATS) or compliant collecting partners of the Real-Time Processing of Loans (RTPL) program.
What is the PRN in SSS?
The Payment Reference Number (PRN) is a unique number generated by the Social Security System (SSS) for its members to use when making contribution payments. It’s an important requirement under the SSS Real-Time Processing of Contributions (RTPC) program. This program aims to ensure that contributions are promptly recorded and credited to members’ accounts, enabling them to access their SSS benefits without any unnecessary delays.
By using the PRN, SSS members can easily reference their payments and track their contribution history. The system generates a new PRN for each payment, allowing for accurate attribution of contributions to individual members. This helps prevent errors in posting and ensures that contributions are applied to the correct month and the correct member.
To obtain a PRN, members can log in to their SSS Online Account and access the Payment Reference Number (PRN) section. Here, they will find the PRN along with the applicable month and the amount payable based on their previous contribution. They can then choose to print the Statement of Account (SOA) that contains the PRN or make changes to the contribution amount and applicable month if needed.
When making a contribution payment, members should present the printed SOA with the PRN to the SSS teller or any accredited SSS payment partner. This helps ensure that the payment is properly recorded and attributed to the member’s account.
The PRN system streamlines the contribution process, allowing for real-time posting of payments and making it easier for members to monitor their contributions. With this efficient system in place, SSS members can have peace of mind knowing that their contributions are promptly credited and that they can enjoy the benefits they are entitled to without unnecessary delays.
How can I get SSS PRN for loan payment?
- First, download the SSS Mobile App on your smartphone. You can find it in the Apple App Store for iOS users or the Google Play Store for Android users.
- Once the app is installed, open it and you’ll see the login screen. If you’re an individual member, enter your My.SSS account user ID and password. For employers, there’s a separate option called “Employer Login.” Just tap on it and proceed to sign in.
- After successfully logging in, you’ll be directed to the app’s main interface. Look for the option labeled “Generate PRN” and tap on it.
- On the next screen, you’ll find a “Create” button located at the upper right corner. Give it a tap.
- Now, it’s time to choose your membership type. Select the option that best describes your status as a member.
- Next, you’ll need to specify the applicable period for your contribution payment. Choose the month or months and the corresponding year that you wish to make a payment for.
- Once you’ve selected the period, you’ll be asked to input the contribution amount. Simply enter the desired amount you want to contribute.
- After providing the necessary details, tap the “Submit” button to proceed.
- Voila! The Statement of Account (SOA) will appear on your screen, showing your PRN and contribution details. You have the option to download it as a PDF file or take a screenshot for your reference.
Conclusion
Overall, PRN loans are designed to support medical professionals throughout their education, residency, and early career stages, helping them manage their finances effectively as they pursue their rewarding careers in the healthcare field.
