SSS Salary Loan – Eligibility And Online Application

SSS Salary Loan. A loan may be necessary at times in order to meet your financial needs because of circumstances beyond your control—perhaps you have lost your job unexpectedly, need to fix your home after a typhoon, need to secure hospitalization for a family emergency, or want to start a small business to generate some extra income.

Luckily, SSS salary loans are very easy to obtain. The SSS has developed an online system that makes registration hassle-free and convenient for active members. Salary loans are processed faster as a result of the system.

This article will guide you through the process of applying for an SSS salary loan.

Social Security System (SSS) salary loans are personal loans that they provide to qualified members of the workforce and to currently-paying voluntary members in order to help them to meet their immediate financial needs.

How Much does SSS Salary Loan Interest Rate in 2025?

The interest rate on the SSS salary loan is 10% per annum, which makes it one of the lowest interest rate loans available in the Philippines as of 2025. The interest rate is calculated based on diminishing principal balances, so interest will continue to be charged until the outstanding balance is fully repaid.

All Social Security System (SSS) contributors who meet certain eligibility requirements are eligible for the salary loan. This includes employees, self-employed individuals, and volunteers:

• Applicants must be active members of SSS.
• Applicants must be under 65 years of age at application time.
• Not have been disqualified for fraud against the Social Security system
• Members should not have an existing final benefit claim, such as retirement or total permanent disability.
• Have not received final SSS benefits such as retirement, disability, or death benefits
• Employers who are up-to-date on contributions to Social Security
• Applicants must have made at least six contributions within the last 12 months before applying for a loan.

Contribution Requirements:

• For a One-Month Loan: Members must have at least 36 posted monthly contributions, with six contributions made within the last 12 months before the loan application.
• For a Two-Month Loan: Members need a minimum of 72 posted monthly contributions, with six contributions within the last 12 months prior to the application.

Read also: SSS Disability Pension For 2025 – Eligibility And Amount Details

Here are some document to apply loan:

SSS Loan documents for Member-Borrowers

• Loan Application Form for Members
• An E-6 or SSS digitized ID
• Two valid IDs, one with a recent photograph

SSS Loan documents for Member-Borrower’s Authorized Representative

• Loan Application Form for Members
• The SS card of the authorized representative or any two valid IDs (at least one with a photo and both with signatures)
• Both the member-borrower and the member-borrower’s representative must sign a Letter of Authority (LOA)
• A member-borrower’s SS card or any two valid IDs (one with a photo and one with a signature)

SSS Loan documents for Employer/Company’s Authorized Representative

• Loan Application Form for Members
• SSS issued Authorized Company Representative (ACR) cards
• A letter of authority (LOA) from the employer, as well as two (2) valid IDs (at least one with a photo and both with a signature).
• SS card or E-6 acknowledgement stub and two valid IDs (at least one with a photo and one with signature) of the member-borrower.

Here are some easy and simple steps to apply to SSS loan Online:

Step 1: Log In to Your My.SSS Account

• Go to the SSS website and log in to your My.SSS account using your information.
• If you do not have an account, register from the on-screen instructions here.

Step 2: Navigate to the Loan Application Page

• After logging in, navigate to the “E-Services” tab.
• Choose “Apply for a Salary Loan” from the drop-down menu.

Step 3: Fill Out the Loan Application Form

• Fill out the online application form accurately.
• Fill out all fields correctly to avoid delays in processing.

Step 4: Submit Your Application

• Please review the information you provided.
• Please click on “Submit” to send your application to SSS for processing.

Step 5: Monitor Your Application Status

• Ensure that you are regularly checking your My.SSS account for loan updates.
• Once your loan is approved, SSS will notify you by email or SMS.

Step 6: Loan Disbursement

• If your loan application has been approved, funds will be disbursed to your chosen bank account or through the method you prefer to receive them.

• Ensure that your My.SSS account has an accurate and up-to-date bank information.

Here are some steps to apply salary loan:

• Go to the My.SSS Mobile app and log in
• Visit the Loan Application page
• Please fill out the application form
• Please submit your application
• Check the status of your application
• You will receive your loan

Additional Steps

• A valid bank account must be enrolled in the Disbursement Account Enrollment Module (DAEM).
• To receive the loan proceeds, you’ll need to provide account details
• The following e-wallets are supported: GCash, PayMaya, Coins.ph, and CBP Cash Padal

If you want to check the status of an SSS salary loan, you can do so by:

• Your My.SSS account can be accessed through the SSS website by logging in
• Contacting the SSS Call Center at 920-6446 up to 55 or 917-7777
• Contacting the nearest SSS office

The Social Security System (SSS) usually approves salary loans within 3 to5 working days. Once approval has been granted, the funds will be disbursed into your chosen account within 2 to 3 working days.

There are different types of salary loans, and their amounts vary based on the loan type and the loan’s requirements.

SSS Salary Loan

• A salary loan is equivalent to a month’s salary on the first loan
• The SSS membership must be active
• At least 36 months of contributions with six contributions within the last 12 months are required
• Application must be made by a person under the age of 65

BPI Salary Loan

• A valid government-issued ID or company identification may be required
• Please provide your latest payslips, ITR (BIR Form 2316), or Certificate of Employment if required
• If you need a salary loan, you might need to complete an application and sign it

Consolidated Loan (Conso-loan)

• There are several loan products in this loan, including the Salary Loan, Restructured Salary Loan, and Emergency Loan Assistance
• If you are interested in knowing more about the amount you may be able to borrow, please contact the financial institution that offers salary loans.

The loan amount is determined based on the member’s Average MSC over the last 12 months:

• One-Month Salary Loan: Equivalent to the average of the member’s 12 latest posted MSCs, rounded to the next higher MSC, or the amount applied for, whichever is lower.
• Two-Month Salary Loan: Equivalent to twice the average of the member’s 12 latest posted MSCs, rounded to the next higher MSC, or the amount applied for, whichever is lower.

The SSS Salary Loan carries an interest rate of 10% per annum, computed on a diminishing principal balance. The loan is amortized over a period of 24 months, with payments starting in the second month following the loan’s approval. A service fee of 1% of the loan amount is deducted upfront from the loan proceeds.

Upon approval, the loan amount is credited to the member’s chosen disbursement account. Members are encouraged to enroll their SSS UMID cards as ATM cards or acquire a UnionBank Quick Card for faster and more convenient access to funds.

Loan repayments are typically deducted automatically from the member’s salary for employed individuals. Self-employed or voluntary members can pay through various SSS-accredited payment channels. It’s crucial to ensure timely payments to avoid penalties and maintain good standing with the SSS.

• Loan Renewal: Members can renew their salary loan once at least 50% of the original loan principal has been paid and at least 12 months have elapsed since the previous loan was granted.
• Penalties: Late payments incur a penalty of 1% per month on the unpaid principal balance.
• Loan Default: Unpaid loans may be deducted from the member’s future benefits, such as retirement or disability claims.

The days of waiting in long lines at SSS branches are gone. Through the online application system, members can simplify the application process by applying from the comfort of their homes. To get started, follow these steps:

• Log In to Your My.SSS Account: Go to the official SSS website to access your My.SSS account. In case you do not have one, registering is straightforward, only requiring your CRN or SSS number and some basic personal information.
• Navigate to ‘E-Services’: Click on the ‘E-Services’ tab and click on ‘Apply for Salary Loan.’ You will be taken to a page where you can review your eligibility, loanable amount, and repayment schedule.
• Submit Your Application: Once you have verified the details, confirm the application and submit it. An SSS representative will send you an email or SMS to keep you informed of updates. You will receive a reference number for tracking purposes.

How do I know if I qualify for a SSS salary loan?

Ans: SSS Salary Loans are available to those who meet the following criteria:

• Applicants for one-month loans must have 36 posted monthly contributions, and applicants for two-month loans must have 72 posted monthly contributions.
• Under 65 years old: Applicants must be under 65 years old at the time of application.

How many days SSS salary loan approval?

Ans: After you have submitted your SSS salary loan, you can check its status by logging into your My. SSS account. It usually takes 3–5 working days for an SSS salary loan to be approved. Through the Disbursement Account Enrollment Module (DAEM), the funds are then credited to your bank account.

Do I need to inform my employer for a SSS salary loan?

Ans: The employer has an important role to play in facilitating employee loan applications by verifying the employee’s employment and contributions to SSS. Taking this step is mandatory since SSS requires confirmation that salary deductions will be used to pay back the loan.

The SSS Salary Loan is a reliable financial aid for members facing unexpected expenses, offering competitive interest rates and a straightforward application process. With the convenience of the My.SSS online portal, obtaining a loan has become hassle-free, ensuring quick access to funds when needed. By meeting eligibility requirements, maintaining active contributions, and ensuring timely repayments, members can maximize the benefits of this loan without financial strain.