SSS Loan in the Philippines

In the ever-changing landscape of personal finance, finding fast and reliable solutions to meet financial needs is crucial. For individuals in the Philippines, SSS loans provide a viable option for securing funds quickly.

This comprehensive guide will explore everything you need to know about SSS loans, including eligibility criteria, application process, loan amount, repayment terms, and how to check your loan balance. By the end, you will have a thorough understanding of SSS loans and their benefits, empowering you to make informed financial decisions.

What is SSS loan?

The Social Security System (SSS) loan program is a popular financial product offered by the SSS in the Philippines ( Designed to address short-term credit needs, SSS loans provide cash advances to employed, self-employed, or voluntary members of the SSS.

SSS loan condition


  • You must be at least 18 years old.
  • You must have been a member of the SSS for at least 36 months.
  • You must be currently employed.
  • You must have a good credit standing with the SSS.


  • The maximum amount that you can borrow depends on your salary and your number of dependents.
  • For employed members, the maximum amount is equivalent to 12 months of your average monthly salary credit (MSC).
  • For self-employed and voluntary members, the maximum amount is equivalent to 12 months of your total monthly contributions.

Interest rate:

  • The interest rate on SSS loans is 6% per annum.


  • You can repay your SSS loan in monthly installments over a period of 12 to 60 months.
  • The monthly amortization is calculated based on the amount borrowed, the interest rate, and the repayment period.
  • You can also choose to pay your loan in a lump sum.


  • If you fail to make a monthly amortization on time, you will be charged a penalty of 1% per month of the outstanding balance.
  • If you fail to pay your loan in full within the agreed repayment period, you will be charged a penalty of 1% per month of the outstanding balance until the loan is fully paid.

Eligibility Criteria for SSS Loans

To qualify for an SSS loan, applicants must meet specific eligibility requirements, which include the following:

  1. Membership Type: You must be an employed member, a currently-paying self-employed member, or a voluntary member of the SSS.
  2. Contributions: A minimum of 36 monthly contributions is required, with at least six contributions posted in the last twelve months preceding the loan application.
  3. Contributions and Loan Payments: If you are an employed member, your employer must be up-to-date with contributions and loan payments. Additionally, you should be current with the payment of other loans with the SSS.

Loan Amount and Repayment Terms

The loan amount for an SSS loan is determined based on the average of your last twelve Monthly Salary Credits (MSC) or the applied amount, whichever is lower. Additionally, the loan carries an interest rate of 10% per annum, calculated on the diminishing principal balance. Repayment is spread over a period of 24 months.

Applying for an SSS Loan

Applying for an SSS loan is a relatively straightforward process. You have the option to apply at any SSS branch or online through the My.SSS portal. The application requires the submission of the following documents:

  • Member Loan Application Form
  • SSS digitized ID or E-6 (acknowledgment stub) along with two valid IDs, one of which should have a recent photo.
  • Unexpired Driver’s License

If you are applying for a loan through your employer, they will need to submit the following documents:

  • Member Loan Application Form
  • Authorized Company Representative (ACR) card issued by the SSS

The typical processing time for an SSS loan is within 10 working days. Once your loan is approved, you will receive a loan release letter, enabling you to commence loan amortization payments.

Checking Your SSS Loan Balance

Monitoring your loan balance is essential for effective financial planning. The SSS provides various methods to check your loan balance:

  1. Online: Access the My.SSS website, create an account, log in, click on the “Loans” tab, and select the “Loan Balance” sub-tab.
  2. Phone: Dial the SSS hotline at 1345 and provide your SSS number and date of birth to obtain your loan balance information.
  3. Mail: Send a written request to the SSS office in your area, including your SSS number and date of birth.
  4. In-person: Visit any SSS branch with your SSS card and a valid ID, and approach a representative to inquire about your loan balance.

For online and phone inquiries, it’s advisable to have your SSS details readily available for a smooth process.

Important Considerations about SSS Loans

To maximize the benefits and avoid pitfalls associated with SSS loans, it is important to keep the following points in mind:

  • Eligibility: SSS loans are available to all SSS members who are at least 18 years old and have at least 36 months of paid contributions.
  • Loan Types: SSS offers two types of loans – salary loans and calamity loans. Salary loans can be used for any purpose, while calamity loans specifically cover medical expenses, funeral expenses, or property damage resulting from natural disasters.
  • Maximum Loan Amount: The loan amount you can borrow depends on your salary and the number of dependents you have.
  • Interest Rate and Repayment: SSS loans have an interest rate of 6% per annum and can be repaid in monthly installments over a period of 12 to 60 months.
  • Loan Repayment Penalty: Failure to repay the loan on time may result in a penalty of 1% per month of the outstanding balance.


SSS loans offer a valuable financial resource for individuals in the Philippines seeking quick access to funds. With simple application procedures, competitive interest rates, and flexible repayment terms, SSS loans provide a convenient avenue for meeting short-term financial needs.

However, it is crucial to meet the eligibility requirements, provide the necessary documentation, and ensure that the monthly repayments are affordable before applying for an SSS loan. Armed with this comprehensive knowledge, you can confidently navigate the world of SSS loans and make informed decisions regarding your financial well-being.

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