Ever been in a spot where you needed cash urgently?

The SSS Salary Loan could be your go-to solution.

It’s like a friend in need for workers or business owners facing unexpected bills or expenses.

What’s in This Article?

We’re here to make understand the SSS Salary Loan.

We’ll explain what it is, how it works, who can get it, and how to apply.

Keep reading! We’ll guide you through the ins and outs of the SSS Salary Loan, including eligibility requirements and the application process for 2024.

What is the SSS Salary Loan

The SSS Salary Loan is like a financial helping hand for people who work or have their own businesses.

It’s meant to help when there’s a sudden need for money, like for unexpected bills or urgent expenses.

This article talks about this loan to make it easier for everyone to understand. We’ll cover what it is, how it works, who can get it, and how to apply. 

Understanding these things can make it simpler to handle money issues when they pop up.

Loan Details

Loan Amount

How Much You Can Get:

  • A one-month salary loan is usually based on your average earnings from the past year or the amount you ask for, whichever is less.
  • If you want a two-month salary loan, it’s usually double your average earnings from the past year or the amount you apply for, whichever is less.
  • The final loan amount will exclude what you already owe from earlier loans.

Repayment Term and Payment Schedule

When and How to Pay Back:

  1. The loan shall be payable within two (2) years in 24 monthly installments.
  2. The monthly amortization shall start on 2nd month following the date of the loan, which is due on or before the payment deadline, as follows:
If the 10th digit of the 13-digit ER/HR number ends in:Payment Deadline(following the applicable month)
1 or 210th day of the month
3 or 415th day of the month
5 or 620th day of the month
7 or 825th day of the month
9 or 0Last day of the month
If the 10th (last) digit of the SSNumber ends in:Payment Deadline[following the applicable month or quarter (for SE/VM only), as the case may be]
1 or 210th day of the month
3 or 415th day of the month
5 or 620th day of the month
7 or 825th day of the month
9 or 0Last day of the month
SSS salary loan

Republic of the Philippines Social Security System

3. Payment shall be made at any SSS branch with a tellering facility, SSS-accredited bank or SSS-authorized payment center.

Interest, Penalty, and Service Fee

Extra Costs and Charges:

  1. The loan shall be charged an interest rate of 10% per annum based on diminishing principal balance and shall be amortized over a period of 24 months.
  2. Interest of 10% shall continue to be charged on the outstanding principal balance until fully paid
  3. Any excess in the amortization payment shall be applied to the outstanding principal balance
  4. Loan amortization not remitted on the due date shall bear a penalty of 1% per month until the loan is fully paid.

Service Fee

  • A service fee of 1% of the loan amount shall be charged and deducted from the proceeds of the loan.

Loan Renewal

Getting Another Loan Before You’ve Finished Paying the First One:

  • You can renew the loan only after paying at least half of what you borrowed earlier and after some time has passed.
  • The new loan amount will cover what’s left after paying the old loan.

Responsibilities of Employer

  1. The employer shall be responsible for the collection and remittance to the SSS of the amortization due on the member-borrower? ‘s salary loan through payroll deduction.
  2. The employer shall deduct the total balance of the loan from any benefit/s due to the employee and shall remit the same in full to SSS in case the member-borrower is separated voluntarily (e.g., retirement or resignation) or involuntarily (e.g., termination of employment or cessation of operations of the company).
  3. The employer shall report to the SSS the effective date of separation from the company and the unpaid loan balance of the employee through the collection list if the benefit(s) due to the employee is insufficient to fully repay his loan.
  4. The employer shall require a new employee to secure from the SSS an updated statement of his account.
  5. The employer shall deduct and remit to SSS any outstanding loan balance of new employees.

Responsibility of Member-Borrower

A member-borrower who transfers employment shall submit to his new employer an updated statement of account of any outstanding loan balance with SSS and allow his employer to deduct from his salary the corresponding amortization due, including any interest/or penalty for late remittance.

Deduction of unpaid loans from Benefits

In case of default, the arrearages/unpaid loan shall be deducted from the benefits claimed by the member, whichever comes first, as follows;

  1. For self-employed/voluntary members, deduction shall be from short-term benefits (Sickness/Maternity/Partial Disability).
  2. In case of member-borrower’s death, total disability, or retirement under the Social Security Act, the entire amount or any unpaid amount of the loan as well as the interest and penalty thereon, if any, shall be deducted from the corresponding benefit.

Other Conditions

  1. Any overpayment on a previous loan shall be applied to the subsequent loan, if any. Otherwise, the overpayment shall be refunded upon request of the member-borrower.
  2. The member-borrower shall notify the Member Services Section of the nearest SSS branch of any change in address/employer thru mail/email/over-the-counter (OTC). The notice should include the SS number, name and signature of the member-borrower.

Eligibility Requirements

To be able to get an SSS Salary Loan, you need to meet certain conditions:

Who Can Apply:

  • Anyone who’s working has their own business or is a voluntary member.
  • For a one-month loan, you should have paid into the system for at least 36 months, with 6 of those payments made in the last year.
  • For a two-month loan, you should have paid into the system for at least 72 months, with 6 of those payments made in the last year.

Your Employer’s Payments:

  • Your boss should be regularly paying their part into the system.

Not Receiving Final Benefits:

  • You shouldn’t have gotten certain final benefits, like full disability or retirement payouts.

Age Limits and Fraud:

  • You need to be under 65 years old when applying.
  • You shouldn’t have done anything dishonest or illegal to get money from SSS.

These rules are set to make sure that the people who really need the loan and have been part of the system for a while get the help they need.

How to Apply for an SSS Salary Loan

Application Requirements

If you want to apply for an SSS Salary Loan, you’ll need some documents:


  1. Member Loan Application Form
  2. SSS digitized ID or E-6 (acknowledgment stub) with any two valid IDs, one of which is a recent photo.

Valid ID’s

  • Unexpired Driver’s License
  • Professional Regulation Commission (PRC) ID card
  • Passport
  • Postal ID
  • School or Company ID
  • Tax Identification Number (TIN) card
  • Seaman’s Book
  • Membership cards issued by private companies
  • Overseas Worker Welfare Administration card
  • Senior Citizens card
  • Voter’s Identification card/Affidavit/Certificate of Registration
  • ATM card

(with cardholder’s name; or with certification from the bank, if without a name)

  • Credit card
  • Fisherman’s card issued by BFAR
  • GSIS card/Member’s Record/Certificate of Membership
  • Health or Medical card
  • ID card issued by LGUs (e.g. Barangay/Municipal/City)
  • ID card issued by professional association recognized by PRC
  • Birth Certificate
  • Baptismal Certificate
  • Marriage Contract
  • NBI Clearance
  • Pag-IBIG Member’s Data Form
  • Permit to carry firearms issued by the Firearms and Explosive Unit of PNP
  • PHIC Member’s Data Record
  • Police Clearance
  • Seafarer’s Registration Certificate issued by POEA
  • Temporary Driver’s License issued by LTO
  • Transcript of Records
  • Alien Certificate of Registration
  • Bank Account Passbook
  • Certificate from:
    • Office of Southern/Northern Cultural Communities; or
    • Office of Muslim Affairs
    • Certificate of Licensure/Qualification Documents/Seafarer’s ID and Record Book from Maritime Industry
    • Certificate of Naturalization from the Bureau of Immigration
    • Life Insurance Policy
    • Birth/Baptismal certificate of child/ren

If Someone Else is Applying for You:

  1. Member-borrower’s duly accomplished Member Loan Application
  2. Authorized Representative’s SS card or any two valid IDs both with signature and at least one with photo
  3. Letter of Authority (LOA) signed by both the member-borrower and member-borrower’s authorized representative
  4. Member-borrower’s SS card or any two valid IDs both with signature and at least one with photo.

If Your Employer is Applying for You:

  1. Member-borrower’s duly accomplished Member Loan Application
  2. Authorized Company Representative (ACR) card issued by SSS
  3. Letter of Authority (LOA) from employer and any two (2) valid IDs both with signature and at least one with photo
  4. Member-borrower’s SS card or in its absence, Application for SS card (SS Form E-6) acknowledgment stub and any two valid Ids both with signature and at least one with photo.

Original or certified true copies of the supporting documents should be presented during the filing of the claim.

Filing Procedure

You can apply for the loan in a few ways:

In Person:

  1. Go to the nearest SSS branch to apply.
  2. If you’re registered on My.SSS, you can submit your application online.

For Overseas Filipino Workers (OFWs):

  1. OFWs can apply at SSS Foreign Representative Offices in some countries.
  2. If there’s no SSS office there, they can send their application and documents to a family member in the Philippines to apply on their behalf.

Special Note for Employers:

  1. Employers should make sure their Specimen Signature Card (SS Form L-501) is up-to-date to avoid delays in processing their employees’ loan applications.


In summary, the SSS Salary Loan is like a friend when you urgently need money.

It helps workers and those with their own businesses when unexpected bills or expenses come up.

To get this loan, you need to follow some rules:

  • You can borrow money based on what you earn, but there are limits.
  • You have to pay back the loan within two years, with monthly payments.
  • If you don’t pay on time, there are extra fees.
  • You can only get another loan if you’ve paid half of what you borrowed before.
  • Your employer helps collect the loan payments from your salary.

If you can’t pay back the loan, the money might be taken from any benefits you get from SSS, like when you’re sick.

To get this loan, you need certain documents like IDs and forms. You can apply in person at an SSS office or online if you’re registered on My SSS. 

If you’re an overseas worker, there are special steps you can follow.

Remember, your employer needs to keep their records up-to-date to make things go smoothly when you apply for the loan.

Understanding how this loan works can help you manage your money better when you need it most.


  1. Republic of the Philippines Social Security System. (n.d.). Www.sss.gov.ph. https://www.sss.gov.ph/sss/appmanager/pages.jsp?page=salaryloans