SSS Salary Loan - Frequently Asked Questions (FAQs)

SSS Salary Loan - a salary-based cash loan that are given to qualified employed, self-employed, and voluntary member. Whoever wants to apply, the member must consider the different factors.

HOW TO QUALIFY IN SSS SALARY LOAN?

• The member should comply with the eligibility requirements and application requirements.

WHAT ARE THE ELIGIBILITY REQUIREMENTS?

1. The member-borrower has not been granted final benefit such as death or retirement must be under sixty-five (65) years old and not been disqualified from SSS because of fraud committed.
2. The member-borrower must be updated in the payment of contribution:

· For a one-month loan, the member-borrower must have 36 months contribution, six (6) of which should be within the last twelve (12) months before the month of filing of the application

· For a two-month loan, the member-borrower must have 72 monthly contributions, six (6) of which should be within the last twelve (12) months before the month of filing of the application.

WHAT ARE THE APPLICATION REQUIREMENTS FOR SSS SALARY LOAN?

• A member-borrower must be accomplished “member loan application form” and must be presented either SSS Digitized ID, UMID or E-6 (Acknowledge stub) with any two valid IDs

NOTE: If you are OFW and has a member-borrower’s authorized representative, you must have complied with the member-loan application and SSS card with two valid ids with signature and photo. Your authorized representative must be presented also the SSS card with two valid IDs with signature and photo. The letter of authority (LOA) should also be presented with the signature of both the member-borrower and the authorized representative.

WHAT ARE THE PROCESSES OF FILING SSS SALARY LOAN?

• For local SSS members, they may file salary loan application at the branches nationwide or submit the salary loan application online at my.sss. These online applications will be directed to the employer’s my.sss account for certification.

• For OFW members, they may file their salary loan application at international SSS offices in selected countries. However, if there is no available offices, they may submit their applications to the Philippines through the help of their authorized representative. Make sure that the documents issued from another country should be duly authenticated by the Philippine Consulate Embassy.

WHAT IS THE MAXIMUM LOANABLE AMOUNT IN SSS SALARY LOAN?

• If the member completed the 36 months of contribution, the member-borrower is subjected to a one-month salary loan that is equivalent to the average of the latest 12 monthly salary credits.

If you have a monthly salary of 13,000, then your maximum loanable amount is equivalent to 13,000. However, if your monthly salary is not fixed, the loanable amount is the average of your 12-month salary.

• If the member completed the 72 months of contribution, the member-borrower is subjected to a two-month salary loan that is equivalent to twice the average of latest 12 monthly salary credits.

• If have outstanding loan balance, the net amount of loan shall be the difference of approved loan balance and outstanding amount.

WHAT IS THE PAYMENT TERM AND SCHEDULE OF PAYMENT OF SSS SALARY LOAN?

• SSS Salary loan shall be payable up to 24 monthly installment
• The mode of payment is the salary-based deduction for employed members
• Monthly payment shall start on the following month after the date of the loan.

HOW TO CREATE ONLINE ACCOUNT IN SSS?

Step 2: Click the “Member” if you are an employee or a volunteer member of SSS or click “Employer” if you are an employer

Step 3: Click “Not yet registered in my.SSS?”

Step 4: Read the reminder and click the box for “ I certify that I have read and understood the foregoing reminders on SSS Web Registration

Step 5: Fill in the needed information in “Online Member User ID Registration.” Then, click I’m not a robot” and click the box for “I accept the Terms of Service”

Step 6: Click “Submit” and wait for the acknowledgment

Step 7: Click your email time-to-time from SSS

Step 8: Click the link provided in the email to activate your account. You need to indicate the 6 digits of your SSS or CRN you input in the registration. Click “submit”

Step 9: Put in your preferred password. Confirm it by typing it again and then click “Submit”

Step 10: You may now log in to your account using your USER ID and Password. Click this https://member.sss.gov.ph/members/. You can also use their mobile app for your convenience

HOW TO SUBMIT DOCUMENTS IN SSS BANK DISBURSEMENT ACCOUNT MODULE FOR FAST-APPROVED LOANS?

Step 1: Log in to your SSS online account

Step 2: Go to “E-SERVICES” and click “Disbursement Account Enrollment Module”

Step 3: Click the box of “I certify that I have read and understood the foregoing reminders on account enrollment” and Click “Proceed”

Step 4: Enter the necessary information

Note: Pick one from the “Select Bank/E-Wallet.” Then, indicate your account number/mobile number connected to your selected platform and input again to “Confirm Disbursement Account Number/Mobile Number”

Step 5: To “Attach Supporting Documents”, select document the type you want to upload as proof to “Choose file”

Step 6: Click the box then click “Enroll Disbursement Account”

Step 7: Wait for the confirmation

Step 8: Wait for the email

Step 9: Re-upload other supporting documents until it will approve

HOW TO APPLY ONLINE IN SSS SALARY LOAN?

Step 2: Go to “E-SERVICES” and click “Disbursement Account Enrollment Module”

Step 3: Ensure that your bank accounts are already approved

Step 4: Go to “E-SERVICES” and click “Apply for Salary Loan”

Step 5: Pick a loanable amount and bank

Step 6: Click the “I agree to the Terms and Conditions”

Step 7: Read the Terms and Conditions of SSS

Step 8: Click “Proceed”

Step 9: Read the disclosure documents and wait for the confirmation. Click “Submit”

Step 10: Wait for the email and a text message from SSS

Note: If the member is employed, the salary loan notification will be sent to the employer's my.SSS account for certification