How to Apply for SSS Salary Loan

The SSS loan benefit will be granted to the currently paying member which are employed, self-employed or voluntary paying member.

The loan was established to help the ones benefit for their short-term credit needs.

What are the requirement needed to grant the SSS Salary Loan?

1. For those who are currently self-employed or voluntary member, and employed.

  • When the member wants to avail the one-month loan, the monthly contribution should be sufficient, wherein the member must have contributed thirty six (36) times. Within the last twelve (12) months. The borrower should have contributed six (6) times before the month of filing of the application.
  • When the borrower wants a two-month loan, he/she must have contributed seventy two (72) times, and six (6) times prior to the month of filing the application within the last twelve (12) months. The update of the payment of contributions by the member-borrower should be passed to the employer.

2. To grant the loan request, the borrower must not have granted other final benefit, like permanent disability, retirement, and death.

3. Under sixty five (65) years old borrower is the only accepted to apply in this benefit.

4. If the member-borrower is proved to have been committed fraud in the SSS for the recent years, he/she is not allowed to file an application.

What is the accepted amount of loan?

  1. The borrower who request for a one-month salary loan, the amount of money depends on his/her twelve (12) Monthly Salary Credit (MSC), the loan is equivalent to the average of that MSC, or the amount the member applied for, or whichever is lower.
  2. If the borrower want to request for a two-month salary loan, the amount depends on his/her latest posted twelve (12) Monthly Salary Credit, the loan is equivalent to twice the average of that MSC, and rounded to the next monthly salary credit, or whichever is lower.
  3. The difference between the approved load and all the present or outstanding balance of short-term loan is the net amount of the loan.

When should be the repayment term and loan payment?

  1. The member should pay the loan within two (2) in his/her 24-month installment.
  2. During the 2nd month after the loan is the monthly amortization, and should be paid on or before the following payment deadline:sss-salary-loan
  3. To give the payment for the loan, you can go directly to any SSS branch with their tellering facility, SSS payment shall be made at any SSS branch with tellering facility, SSS-accredited bank or SSS-authorized payment center.

How much are the interest and the penalty if failed to pay during the deadline?

  1. The interest rate for the loan shall be charged 10% interest rate per annum, based on the diminishing initial balance, and it should be amortized during the 24-month period.
  2. If there is still outstanding balance, there will be an interest of 10% until the loan is fully paid.
  3. To the outstanding principal balance will apply any excess of the amortization payment.
  4. If the member failed to remit the loan amortization on the due date, he/she will receive one percent (1%) penalty per month until the loan is fully paid.

How much is the service fee?

There is fee for service, which is 1%, and that will be the charge to be deducted from the proceeds of the loan.


  1. When will the borrower allowed to renew his/her loan? He/She is allowed to renew the loan if successful to pay for at least 50% of the principal loan and at least 50% of the term has lapsed.
  2. As long as the outstanding balance on the previous loan is deducted, it is allowed to renew loan that is any amount greater than or equal to zero.

What are the responsibilities of the employer?

  1. The employer will deduct the member-borrower salary loan for amortization to collect and to remit directly on the SSS.
  2. If the member-borrower resigned or had retirement that caused him/her to become separated voluntarily, or he/she was terminated that caused him to be involuntarily detached, the employer has the right to deduct the total balance of the loan from any benefit the member possessed and shall remit the same in full to SSS.
  3. The employer is responsible to report to the SSS the effective date of the member borrower failed to pay the loan balance to its due date and of the member’s separation from the company. The employer will perform this by collection list if the benefit due to the employee is insufficient or cannot fully repay the loan.
  4. A new employee is required for the employer to secure from the SSS and new or updated statement of his account.
  5. The employer is the one responsible to remit the outstanding loan balance by deducting the new employees’ salary loan.

What is the responsibility of the member-borrower?

  • Submit the updated statement of account of any SSS outstanding loan balance.
  • He/she must allow the employer to deduct his/her salary due to the corresponding amortization due, and it includes the interest or penalty.
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