SSS Salary Loan

An SSS Salary Loan is a cash loan granted to an SSS member who is currently employed, currently- paying self-employed or voluntary member. It's purpose is to meet the member's temporary financial needs. To be eligible to apply for an SSS salary loan, an SSS member must meet any of the following: 

SSS SALARY LOAN ELIGIBILITY REQUIREMENTS

• Must be currently employed, currently contributing self-employed, or voluntary member of the SSS.
• The SSS member-borrower's employer must be updated in the payment of contributions.
• The SSS member-borrower has not been granted any SSS benefit like total permanent disability benefit, retirement benefit, or death benefit.
• The SSS member-borrower must be below 65 years old at the time of salary loan application.
• The SSS member-borrower has not been disqualified due to fraud committed against the SSS.

There are two options that you can choose from when applying for an SSS Salary Loan. One option is for a 1 month salary loan and the other is for a 2 month salary loan.

For a 1 month salary loan, the SSS member-borrower must have at least 36 credited monthly SSS contributions. Six of those SSS contributions must have been made within the last 12 months before the filing of your salary loan application.

For a 2 month salary loan, the SSS member-borrower must have at least 72 credited monthly SSS contributions wherein six of those contributions should be within the last twelve months before your the filing of your salary loan application.  

SSS SALARY LOAN APPLICATION REQUIREMENTS

Member Borrower

1. Duly accomplished Member Loan Application Form

2. SSS digitized ID or E-6 (acknowledgement stub) with any two valid IDs, one of which with recent photo.

• 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 card 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 bank, if without 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 children

Member Borrower's Authorized Representative 

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 SSS card or any two valid IDs both with signature and at least one with photo.

Employer/Company's Authorized Representative 

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 SSS card (SS Form E-6) acknowledgment stub and any two valid Ids both with signature and at least one with photo.

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

FILING PROCEDURE

An SSS member borrower may file the salary loan application at any SSS branch nearest his place of residence or business. If you are registered at My.SSS, you can also submit your SSS salary loan application online provided your employer have an SSS web account.

For OFW's who are members of SSS, you may file your salary loan application at the SSS Foreign Representative Offices in selected countries. If there is no SSS office in the country where you are currently working, you may send your salary loan application and supporting documents to your relatives here in the Philippines by authorizing them to file your salary loan application in your behalf at the SSS branch office near you. All supporting documents issued by other countries should be duly authenticated or certified by the Philippine Consulate Embassy.  

Note: The employer shall submit an updated Specimen Signature Card (SS Form L-501) to be updated annually to avoid delay in the processing of salary loan applications.

LOAN AMOUNT

1. A one-month salary loan is equivalent to the average of the SSS member-borrower's latest posted 12 Monthly Salary Credits (MSCs), or amount applied for, whichever is lower.
2. A two-month salary loan is equivalent to twice the average of the member-borrower's latest posted 12 MSCs, rounded to the next higher monthly salary credit, or amount applied for, whichever is lower.
3. The net amount of the loan shall be the difference between the approved loan amount and all outstanding balance of short-term member loans.

LOAN REPAYMENT TERM AND SCHEDULE OF LOAN PAYMENT

1. Your SSS salary loan shall be payable within two (2) years in 24 monthly installments.
2. Your monthly amortization will commence on 2nd month following the date of loan, which is due on or before the payment deadline. 
3. Salary loan payments can be made at any SSS branch with tellering facility, SSS-accredited bank, or SSS-authorized payment center.

INTERESTS AND PENALTY

• Your SSS salary loan will have an interest rate of 10% per annum based on remaining principal balance, and shall be amortized over a period of 24 months.
• Interest of 10% shall continue to be charged on the outstanding principal balance until fully paid.
• Any excess in the amortization payment shall be applied to the outstanding principal balance.
• Loan amortization not remitted on due date shall bear a penalty of 1% per month until the loan is fully paid.

SERVICE FEE

The proceed of your SSS salary loan with be deducted with a service fee of 1% of the loan amount 

LOAN RENEWAL

1. A salary loan renewal shall be allowed only after payment of at least 50% of the original principal amount and at least 50% of the term has lapsed.
2. Proceeds of your salary loan renewal is any amount greater than or equal to zero as long as the outstanding balance on the previous loan is deducted.

RESPONSIBILITY OF MEMBER-BORROWER

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

DEDUCTION OF UNPAID LOAN FROM BENEFITS

1. In case of default, the unpaid SSS loan will be deducted from the benefits that will be claimed by the member, whichever comes first, as follows;
2. For self-employed/voluntary member, deduction shall be from short-term benefits (Sickness/Maternity/Partial Disability).
3. In case of member-borrower's death, total disability or retirement under Social Security Act, the entire amount or any of unpaid amount of any SSS loan together with the interest and penalty accrued, if any, shall be subtracted from the corresponding SSS benefit to be received by the SSS member or his beneficiary.

OTHER CONDITIONS

1. In case of overpayment on a previous loan, the corresponding amount overpaid by the SSS member 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 must 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 member's SSS number, name, and signature of the SSS member-borrower.

For additional information or questions regarding any of the services offered by the Social Security System or SSS, you may contact the agency using any of the following:

SSS Hotline Numbers and Contact Details

Email Addresses:

member_relations@sss.gov.ph

ofw.relations@sss.gov.ph

SSS Trunk Line No.: (632) 920-6401

SSS Call Center: 920-6446 to 55

IVRS: 917-7777

Toll-Free No.: 1-800-10-2255777

International Toll-Free Nos.:

Asia

Hongkong: 001-800-0225-5777

Singapore: 001-800-0225-5777

Malaysia: 00-800-0225-5777

Taiwan: 00-800-0225-5777

Brunei: 801-4275

Middle East

Qatar: 00800-100-260

UAE: 800-0630-0038

Saudi Arabia: 800-863-0022

Bahrain: 8000-6094

Europe

Italy: 00-800-0225-5777

UK: 00-800-0225-5777