SSS Loan is one of the benefits that the Philippine Social Security System offers to its members.
If you’re in need of quick cash for your child’s tuition fee, for medication, or for any personal reason, you may apply for an SSS loan.
SSS Loan Benefits
SSS members who need help with their short-term finances can avail of the SSS Salary Loan.
Under this type of SSS loan, members are entitled to borrow an amount equivalent to their 1-month or 2-month salary.
SSS Loan Computation
The actual SSS loan value will be computed based on the average monthly salary of the member over the last 12 months of employment.
- The SSS Loan amount is subject to a 10% interest rate.
- A service charge for SSS loan processing amounting to 1% of the total amount will also be collected.
SSS Loan Payment
When to start paying for SSS Loan?
The borrowing member can start making payments on the second month following the SSS loan approval, with the total amount amortized over a period of 24 months.
Where to pay SSS Loan?
Payments for SSS loan may be made directly to the SSS or to any of its accredited banks. If the member is presently employed, payment remittances shall be made through the employer or the company where he is currently working.
Below is the payment deadline table for SSS loans. Source: SSS
Who Can Avail of the SSS Loan?
Check out the list of SSS Loan Requirements below to know if you are eligible to avail or apply for SSS Loan.
SSS Loan Requirements:
- You must be an SSS member
- Presently employed, self-employed or a voluntary member who is updated in his or her contributions, with the corresponding total number of payments varying based on the duration of the loan.
- For a 1-month SSS loan – Minimum of 36 monthly contributions, with at least 6 contributions made within the last 12 months prior to the loan application
- For a 2-month SSS loan – Minimum of 72 monthly contributions, with at least 6 contributions made within the last 12 months prior to the loan application
- In the case of borrowers who are employed, their employers must also be updated in their contribution payments.
- You must be 64 years old and below in order to qualify for the SSS loan.
- The borrowing member should not have collected any permanent disability, retirement or death benefits from the SSS.
- The member should not have a record of disqualification due to fraud committed against the agency.
SSS Loan Application: How to Apply for SSS Loan
Follow these simple steps to apply for SSS Loan:
Step 1. Completely fill out the SSS Loan form.
- Download SSS Loan Form here
Step 2. Submit this SSS Loan Application form to the SSS branch closest to your place of work or residence.
If you are registered to My.SSS Online, you may also submit your SSS Loan Application Form online.
Take note that for online applications, members should also make sure that their employers are enrolled for an SSS web account, so that employers can issue the necessary certification via the web portal.
3. Aside from the SSS Loan Form, you must also present your SSS ID or SSS E-6 Form (acknowledgement stub).
4. You must also present at least two valid IDs. Both identification cards must contain a specimen signature, and at least one of the two should have a photo.
List of Accepted IDs and Documents for SSS Loan Application:
- Unexpired Driver’s License
- Professional Regulation Commission (PRC) ID card
- 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 child/ren
Or visit the SSS website for the complete list of SSS loan requirements.
How long does the processing of SSS Loan take?
SSS loan processing takes around 2-3 weeks from the date of application.
This is provided that all information, attachments, and requirements are complete.
SSS Salary Loan Check Release
Your SSS Salary Loan check will be released depending on your current membership status.
- Self-employed or voluntary members will be advised when they can pick up their checks from the SSS branch.
- Employed members’ checks will be given through their employers.
How to Apply for SSS Loan Online
1. To apply for Salary Loan Online, go to the SSS website at sss.gov.ph and login using your username and password. This is assuming you are already registered to My.SSS online. If not, you will have to register first.
2. Once you’re logged in, go to E-Services, then click Apply for Salary Loan.
3. Fill out the Loan Application Form below and follow the next steps on the screen or check your email for the next steps.
WATCH this video tutorial: How to Apply for SSS Salary Loan Online
How to Check your SSS Loan Balance Online
1. Login to your My.SSS account at sss.gov.ph. Enter your correct username and password.
2. In the main menu, go to E-Services, then click Inquiry.
3. In the next menu, go to Loans, then click Loan Status/Loan Info.
4. Check the List of Availed Loan. If you have more than one loan, click the one that you want to view under Loan Type. For example, Salary Loan.
5. Click Statement of Account & Loan Payments to view the details of your loan. See sample screenshot below.
How to Check SSS Loan Balance Inquiry thru Text
The Social Security System has launched its own mobile app to provide easy online inquiry and convenient way of accessing personal records for its members.
By simply using your smartphone or tablet, you can now make SSS loan balance inquiry thru text.
Text SSS is a text based facility that allows a members to inquire information of their account via SMS. Just follow the format or command below for your reference.
How to register SSS text inquiry?
Just type SSS REG (SSS Number) (Date of Birth MM/DD/YYYY) then send to 2600.
- Example: SSS REG 2244668800 11/22/1985
Wait for a reply message from 2600 for the 4 digit PIN.
1. To Check SSS Loan Status:
Type SSS LOANSTAT<SSNUMBER><PIN>
Send to 2600
2. To Check SSS Loan Balance:
Type SSS LOANBAL<SSNUMBER><PIN>
Send to 2600
Text Rates for SSS Inquiry:
- For Smart/TNTand Globe/TM Subscribers – P2.50 per text
- For Sun Subscribers – P2.00 per text
Where to Pay your SSS Loan Payment
1. If you’re employed, your employer automatically deducts your monthly loan amortization from your salary.
2. If you’re an unemployed, self-employed, or voluntary member, you can pay your loan amortization in many ways including:
- Pay at the Cashier at the SSS Office or branch near you
- Pay at the SM Business Center
- Pay at the Bayad Centers and Remittance Centers
- Pay at any accredited banks (over-the-counter or Auto-Debit Arrangement)
3. If you’re an OFW member, you may pay through any accredited payment partner of SSS.
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- How to Login to SSS Online Successfully and View your SSS Contributions