For first-time borrowers, the amount you can loan from the Social Security System (SSS) primarily depends on your average Monthly Salary Credit (MSC) over the past year and your total number of posted contributions. If you’re applying for a salary loan for the first time, you’ll typically be eligible for a one-month loan based on your MSC.
🧾 How Much Can You Borrow on Your First SSS Salary Loan?
The first SSS salary loan is generally equivalent to your one-month average MSC over the past 12 months, or the amount you applied for—whichever is lower.
Here’s a clearer breakdown of loan amounts:
- One-Month Loan
This is the standard option for new borrowers. It’s computed based on the average MSC during the 12-month period before the month of application. The maximum loanable amount under this bracket is typically around ₱15,000 to ₱20,000, depending on your income level. - Two-Month Loan
For those with a more established SSS contribution history (at least 72 posted contributions, including 6 contributions within the last 12 months), the two-month loan option becomes available. However, first-time borrowers usually start with the one-month loan and may only qualify for the two-month option on their next application.
✅ SSS Salary Loan Eligibility Requirements (As of 2025)
To qualify for your first SSS salary loan, make sure you meet all of the following:
- Must be an active SSS member.
- At least 36 total posted monthly contributions, with 6 posted within the last 12 months before your loan application.
- Age must be below 65 years at the time of application.
- If employed, your employer must be actively remitting contributions to SSS.
- Must not have any existing delinquent or unpaid SSS loans.
- Must not have received any final benefit from SSS, such as retirement or total disability.
- Must have an active Disbursement Account Enrollment Module (DAEM) enrolled bank account, e-wallet, or SSS-approved card for disbursement.
💰 Interest Rate and Fees in 2025
As of May 2025, the interest rate for SSS salary loans is:
- 10% per annum, computed based on the diminishing principal balance.
- A planned interest rate reduction to 8% for borrowers in good standing (no penalties or condonation programs availed in the past five years) is scheduled for July 2025.
Other fees include:
- 1% service fee, automatically deducted from the loan proceeds.
- 1% monthly penalty for late payments on outstanding balances.
📌 How to Apply for Your First SSS Salary Loan
You have several options to apply for your SSS salary loan:
- Online via My.SSS Portal
- Log in at https://www.sss.gov.ph
- Go to the “E-Services” tab and click “Apply for Salary Loan”
- Follow the steps and wait for confirmation.
- Through Your Employer
- If your company is enrolled in the SSS online system, they may file the loan application on your behalf.
- At an SSS Branch
- Manual application is also accepted, especially for walk-in members who prefer face-to-face processing.
- For OFWs
- Overseas Filipino Workers can apply through SSS International Offices or submit their applications online using their registered My.SSS accounts.
📣 Important Reminders
- The 8% reduced interest rate is not yet in effect as of May 2025, but is expected to roll out in July 2025. Check the official SSS website for updates before applying.
- Always keep your SSS contributions updated to remain eligible for future loans and benefits.
- Make sure your DAEM bank account is active and correct to avoid disbursement issues.
💡 Quick FAQ
Q: Can I get more than one month’s salary for my first loan?
A: Usually no. First-time borrowers are eligible only for the one-month loan, based on your average MSC.
Q: How soon will I receive the loan proceeds?
A: Disbursement typically happens within 3 – 7 working days, depending on the processing volume and your bank’s timeline.
If you’re planning to borrow from SSS for the first time, it’s crucial to understand how your contributions and salary credit directly affect your loan eligibility. Stay updated, and always check your My.SSS account for your contribution record and loan status.
