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Guide on How to Apply for SSS Salary Loan

Need cash?
It is not surprising that most of us experience a financial gap, especially when the salary is just a week or a few days more ahead. When you thought everything would go according to the budget, something will come up to ruin it.
Or perhaps you were unable to save enough cash for your child’s christening, tuition fee, or back-to-school supplies. There are various reasons why we go on short-term financial difficulties. That’s why we turn to salary loans.
There are government loans that might help you out. If you are an active member of the Social Security System, you might be familiar with the SSS Salary Loan. How do you apply for it?
SSS Salary Loan Philippines

SSS Loan Requirements
You must be an active member of SSS who may be employed, self-employed, or voluntary. You have to be younger than 65 years old and have never had any fraud-related issues against the SSS.
If you need a one-month loan, make sure you have at least 36 monthly contributions. You must at least contributed for the last 12 months. The two-month loan requires 72 monthly contributions. If you are a new member are you haven’t reached the required number of monthly contributions, you are not eligible for the famous SSS loan.
How to Apply for SSS Salary Loan
You can apply it in various ways.

  1. Fill out a Member Loan Application form and submit it together with two valid IDs to the nearest SSS branch.
  2. If an authorized representative will file for you, make sure to have a Letter of Authority (LOA) apart from two valid IDs.
  3. Your employer can also file for you. Your employer must have a Letter of Authority (LOA).
  4. OFW members can also apply for a salary loan through the SSS Foreign Representative Offices in selected countries. Suppose there is no SSS Foreign Representative Offices in the country you are working in. In that case, your relatives can file for you given that they have your proper documents certified by the Philippine Consulate Embassy.

SSS Salary Loan Computation
You can borrow a maximum amount of P15,000 for a one-month loan. The highest amount you can borrow for a two-month salary is P30,000. However, the actual loanable amount will depend on the average amount you have been paying as your monthly contribution for the last 12 months.
SSS Salary Loan Online

  1. Make sure you have signed up online. Remember your username and password.
  2. After the registration confirmation, log in to your SSS online account.
  3. On the “Main Menu” tab, move the mouse to “Transaction.” Select Salary Loan Application.
  4. Choose the amount you want to borrow.
  5. Click “Proceed.”
  6. Click “View Loan Disclosure Statement” to see the loan details. Check the details if all are correct. If it does, click the “Submit” button.
  7. Wait for approval. The process will take two to three weeks.

Salary Loan Renewal
You will be allowed for a Salary Loan Renewal only if you can pay 50% of the principal loan amount and at least 50% of the loan term has passed by. You can request any amount. But if you have the remaining loan amount from your first or current loan, it will be deducted from it.
Salary Loan Payment Inquiry
If you’re an employee, make sure you check your loan balance. This way, you’ll know if your employer remits your SSS loan payment every month. Remember that there are late payment charges for the unpaid monthly amortization. Delayed loan repayments lead to the accumulation of penalties and interest.
Alternative for SSS Salary Loan
If you are not eligible for the SSS Salary Loan, you can apply for an online salary loan in Cash Mart. Cash Mart only requires documents such as a company ID, government-issued ID (preferably Driver’s License), proof of billing, and income proof (payslip/ bank statement).
There is no need to wait. It only takes a day, and the whole process is online. Call Cash Mart at (02)829-0000 to find out more or visit

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