Applying for SSS salary loan is one of the benefits that qualified SSS members can enjoy.
Many SSS members take advantage of the the SSS loan because it’s not only easy to file but it’s also affordable to pay.
If you have a financial emergency or you need cash immediately, you may apply for a loan, provided you meet the following criteria or eligibility requirements:
- You are an SSS member
- You are below 65 years old at the time of application
- You have made at least 36 months contributions to the SSS if you’re applying for a 1-month salary loan
- You have made at least 72 months contributions to the SSS if you’re applying for a 2-month salary loan
- You have made at least 6 months contributions in the last twelve months
If you have other existing loans from the Philippine Social Security System, make sure that your payments are up-to-date.
If you’re employed, make sure that your employer remits your monthly contributions and loan payments.
Also, make sure that you have not been granted any final benefits like retirement benefit to apply for a salary loan from the SSS.
What are the Requirements for SSS Salary Loan
- UMID or SSS ID or E-6 Form (acknowledgement stub)
- SSS Loan Application form – download here
- Valid ID with photo and signature
- Driver’s License
- Postal ID
- PRC ID
- Company ID
- TIN ID
- Click here for the complete list of accepted IDs.
How to Apply for SSS Salary Loan
You can apply for SSS Salary Loan through the following options:
- Apply personally at the SSS branch or office
- Apply online at sss.gov.ph
For OFWs, online application of salary loan at the SSS website may be the most convenient way but you must register your SSS account online first.
- Click here to read: How to Register your SSS Account Online
Or, you may apply personally at the SSS Foreign Representative Office if there’s one in the country where you’re currently situated.
- Click here to find: SSS Foreign Representative Offices
Or, you may authorize a representative to file your SSS salary loan application here in the Philippines.
SSS Loan Update – November 2019
Starting November 11, 2019, all salary loans must be filed online.
SSS members can no longer apply for salary loans if they are not registered in the My.SSS online portal.
Follow the steps here for SSS Online Registration or watch this video:
If you do not have access to the internet, you may proceed to the nearest SSS Branch to avail of the SSS e-Center facility for registration and SSS loan application.
Please take note that for calamity, emergency, and education assistance loans, you will still have to file or submit application in SSS branches for the documentary requirements.
How to Apply for SSS Salary Loan Online
If you already have an SSS account online, follow these steps to apply for SSS Salary Loan:
Step 1: Open the SSS website at https://sss.gov.ph
Step 2: Login using your User ID and Password
Step 3: Click E-Services, then click Apply for Salary Loan.
Step 4: Choose the Loanable Amount, Payment Mode, Mailing Address and Postal Code.
Note: The loanable amount depends on the number and amount of your SSS contributions.
Step 5: Click the box if you agree to the Terms and Conditions, then click Proceed.
If you are employed locally, you must notify your company or employer through your HR department that you filed an application for SSS salary loan online.
Your HR Officer will verify and approve your SSS salary loan application through the company’s SSS online account before it gets processed.
How to Apply for SSS Salary Loan at the SSS Branch
If you prefer applying for a loan personally or you’re having a hard time applying online, visiting the nearest SSS branch is your next option.
Here are the steps:
Step 1: Prepare the requirements including:
- duly filled-up loan application form
- UMID or SSS ID
- E-6 Form (if you don’t have a UMID)
- at least two valid IDs (with your signature and photo)
It would be best if you prepare these requirements before you go to the SSS branch to save time and to avoid delay.
Step 2: Once you’re at the SSS branch, approach the guard on duty or the information personnel and tell them that you’re going to apply for a salary loan. They will direct you to the correct queue and will give you a queue number.
Step 3: Once your number is called, submit your requirements. If you have any questions about the loan, don’t hesitate to ask the SSS personnel.
Your SSS loan application will be processed in 3-6 weeks.
To follow up on the status of your application, you may contact SSS through the following:
- SSS Hotline: 920-6446 to 55
- SSS Toll-Free No.: 1-800-10-2255777
- SSS Email: email@example.com
- SSS Email for OFWs: firstname.lastname@example.org
- SSS Facebook: https://www.facebook.com/SSSPh
How to Apply for Salary Loan through a Representative
The process of applying for a loan through a representative is the same as the steps explained above.
In addition to the requirements, your representative must also submit the following documents:
- His/her own primary valid ID or secondary IDs
- Letter of Authority (LOA) with the OFW-member’s and representative’s signatures
How to Receive SSS Salary Loan Proceeds
Once your SSS loan application has been approved, you will receive the loan proceeds through any of the options below.
- UMID ATM Withdrawal
- If you have the new UMID ATM (SSS ID that has the feature of an ATM), your loan proceeds will be deposited/debited to it. You can withdraw it using your UMID ATM at any affiliated ATM machine.
- Cheque to be mailed to your mailing address
- If your UMID ATM is not yet activated, your loan proceeds will be released through check to be mailed at your updated address.
- For employed members, you must present the stub that came with your cheque to your HR Officer
- You must encash the cheque within 3 months from issue date.
- Cheque to be picked up at the SSS branch
- If the 2 options above are not applicable to you, you may ask the SSS personnel if you can pick up the cheque at the SSS branch.
How much can you get from your SSS Loan
- 1-month Salary Loan
- It is the average of the your latest 12 posted monthly salary credits (MSCs) that are rounded to the next higher MSC or the desired loan amount, whichever is lower.
- 2-month Salary Loan
- It is twice the average of the borrower’s latest posted MSCs that are rounded to the next higher MSC or the desired loan amount, whichever is lower.
You can apply for 1-month or 2-month salary loan, BUT the actual loanable amount depends on the number and amount of your SSS contributions.
The Monthly Salary Credit or MSC is the compensation base for SSS contributions and benefits related to the declared monthly salary or compensation of the member. It is used to compute for the SSS loanable amount and other SSS benefits.
SSS Loan F.A.Q.s
When shall I pay my SSS Loan and How Long?
- Your SSS loan payment begins on the second month after the date of your loan.
- Your SSS loan is payable in 24 monthly installments within two years.
How much are the interest and fees of an SSS Loan?
- 10% annual interest rate based on diminishing principal balance.
- 1% service fee of the approved SSS loan amount
- 1% penalty fee for every month that the loan payment is delayed.
When Can I Renew or Re-apply for SSS Loan?
- You can renew or re-apply for SSS Loan once you have paid at least 50% of the original principal amount and at least 50% of the term has lapsed.
- Proceeds of renewal loan is any amount greater than or equal to zero as long as the outstanding balance on the previous loan is deducted.
How much can you loan in SSS?
- SSS members with at least 36 monthly contributions can borrow an amount equal to their one-month salary up to P15,000. Those with at least 72 monthly contributions are entitled to a two-month loan worth twice their salary up to P30,000
How long will it take to get SSS loan?
- Loan applications – whether via the SSS website or processed at a branch – take two to three weeks to approve from the date of application, providing that all necessary documents have been submitted. For employed members, the check is released to their employers.
How can I get my SSS loan?
- You can get your SSS loan through your UMID ATM which you can withdraw once it’s available. You can also request a cheque to be mailed to your mailing address. Or, you can pick up the checque at the SSS branch.
How do I know if my SSS loan is available?
- You may call the SSS hotline to check the status of your SSS loan application. You may also check your SSS online account to see if your SSS loan has been approved and if the loan has already been released. Or, you can check your UMID ATM to check if the amount has been credited.
SSS releases over P19B worth salary loans
The Social Security System of the Philippines has released more than 19 Billion pesos worth of SSS salary loans to around 942,000 members in the first six months of 2019.
According to SSS President and Chief Executive Officer Aurora C. Ignacio, the increase in loan releases was due to the rise in the number of member-borrowers from 886,208 in the first half of 2018 to 941,716 for the same period this year.
“Salary loan is one of the most popular loan privileges of SSS. In fact, salary loans represent almost the entire amount of loan releases for the first half of this year,” Ignacio said.
SSS Salary Loan Contact
To closely monitor the salary loan application status and payments, you may check your My.SSS account via SSS website, SSS Mobile App, and SSS Self-Service Information Terminals (SSITs) in selected SSS branches nationwide.
You may also call the SSS Hotline at 920-6446 to 55 and local Toll-Free Services at 1-800-10-2255-777 and send appropriate keywords via SMS using the Text-SSS facility.