SSS Salary Loan Application: A How-To Guide

5 min. read By eCompareMo on

Government-imposed employee benefits provide financial assistance to employees who have met the total minimum monthly contributions and specified eligibility requirements. If you’re planning to apply for the Social Security System (SSS) Salary Loan, you may avail of either one or two months’ worth of salary loan depending on your total months of contribution.

Now it’s easy to apply for an SSS loan, online. This article will guide you through the SSS online application, SSS online payment, and other important information you need to know.

SSS Salary Loan Application A How-To Guide

Here’s Your Guide on How to Apply for an SSS Salary Loan

You may apply online through the My SSS page on their official website in coordination with your employer to make sure your contributions are updated.

Read: (5 Dangerous Traps To Avoid When Applying For A Personal Loan)

SSS Loan Eligibility

To be eligible for an SSS salary loan application, you need to meet the following requirements:

  • The applicant must have at least thirty-six (36) months of total contributions, and six (6) months of contributions in the last twelve months.
  • For two months SSS salary loan application, there should be at least seventy-two (72) months of posted contributions one (1) month before your loan application.
  • Employed applicants must first register online through the SSS official website:
    • Register through sss.gov.ph.
    • Recommended browsers to use in your SSS online registration and loan application are either Internet Explorer or Mozilla Firefox “for optimal viewing and functionality.”
    • After the registration, go back to the homepage and Log In.
    • Click on the E-Services tab and proceed to Apply for Salary Loan.
    • Fill up the SSS online application form.
    • Click the Terms and Conditions agreement tick box then Proceed.
    • A confirmation email will be sent to your registered e-mail address along with a transaction number for your loan request.
  • The SSS member/borrower must make sure that his or her employer has updated his or her payment contributions. Talk to your HR or Accounting Department about this.
  • The SSS member/borrower must not have been granted a form of final benefit, such as the following:
    • Total permanent disability
    • Retirement
    • Death
  • The SSS member/borrower must be below sixty-five (65) during application
  • The SSS member/borrower must not have committed fraud and got disqualified by SSS.

SSS Loan document requirements:

  • SSS digitized ID or E-6 (acknowledgement stub)
  • Two (2) valid IDs with photo (refer to the SSS list of valid IDs)

Self-employed SSS loan applicants or voluntary payors may go to the nearest SSS office to obtain the Member Loan Application Form and bring the following documents:

  • Accomplished SSS Form ISL-101
  • Digitized SSS ID Card or E-6
  • Two (2) valid IDs with photo

Overseas Filipino Worker (OFW) members may apply for a salary loan at the SSS Foreign Representative Offices in selected countries. For countries with no SSS office, the OFW may assign an authorized representative to submit their application documents to the local SSS branch:

  • OFW’s accomplished Member Loan Application form
  • Authorized Representative’s SSS card or two (2) valid photo-bearing IDs with signature
  • Letter of Authority (LOA) signed by both the OFW borrower and authorized representative
  • OFW’s SS card or two (2) valid photo-bearing IDs with signature

Original copies of your supporting documents should be presented during loan application.

How Long Will It Take to Get an SSS Salary Loan?

The SSS loan application processing time takes around two to three weeks from your date of application, granted that all information and supporting documents are submitted.

How Much is the First Loan in SSS?

To set your expectations on the SSS Salary Loan computation, you may use their SSS loan calculator, on the SSS website. Note that your total loan proceeds will be charged with one-percent (1%) service fee.

Employed applicants will receive their PNB checks in their offices as it will be given through their employers.

Self-employed, voluntary members, and OFWs will be notified of the availability of their checks from the SSS branch where they filed the loan application.

Go to the nearest PNB branch for check encashment and bring two (2) valid IDs with photo and signature for bank verification.

SSS loan interest rates and charges

Note that there is a 1% service fee in the loan processing, which will be charged and deducted from your total loan amount. Here are the other SSS loan interest rates and charges you need to know:

  • The SSS Salary loan interest rate is 10 percent per year, payable in equal installments over a loan term of twenty-four (24) months.
  • An interest rate of 10% will be charged every month to the outstanding balance, until the loan is paid in full.
  • Excess monthly amortization payments will be applied to the loan balance
  • Missed loan amortizations — not paid on due date, will be charged with 1% interest per month, until the loan is paid in full.

SSS loan payment

The SSS Salary loan interest rate is 10 percent per annum, payable in equal installments over a loan term of twenty-four (24) months.

Employed borrowers’ loan payments will be deducted through their monthly payroll.

Retired, self-employed, voluntary members, and OFW borrowers shall pay their monthly SSS Salary loan amortization at any SSS branch with teller facility, SSS-accredited banks, and authorized payment centers on the second month after the date of the loan.

The payment deadline should follow SSS’ 13-digit ER number guidelines as specified:

Regular employer
If the 10th digit ends in: Payment deadline (two months after loan date)
1 or 2 On or before the 10th day of the month
3 or 4 On or before the 15th day of the month
5 or 6 On or before the 20th day of the month
7 or 8 On or before the 25th day of the month
9 or 0 On or before the last day of the month
Household employers, Self-employed, and Voluntary members (excluding OFW members)
If the last (10th) digit of SS Number ends in: Payment deadline
1 or 2 On or before the 10th day of the month
3 or 4 On or before the 15th day of the month
5 or 6 On or before the 20th day of the month
7 or 8 On or before the 25th day of the month
9 or 0 On or before the last day of the month

Missed payments will be charged with one percent per month until the loan is paid in full.

How Can I Check My SSS Loan Balance?

You can check your SSS Loan Balance online, via the SSS website. For optimum use of their site, use Internet Explorer.

  • Go to sss.gov.ph
  • Enter your login details
  • Click on the E-Services tab
  • Under that, click, Inquiry. It will then show you the ‘Employee Static Information’
  • Under the Member Info tab, click on ‘Loans’, then click ‘Loan Status/Loan Info’

There you can check your ‘Loan Information Details’. It will show how much you’ve paid, and your outstanding balance.

SSS Loan Renewal

The loan may be renewed if at least 50 percent of the outstanding loan has been paid. The renewal loan amount will be deducted with the outstanding balance on the previous loan.

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