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Career Advice

How To Apply For SSS Salary Loan

Date Posted: Jul 22, 2009

In need of money but doesn’t know where to get it? Then worry no more. If you are a certified member of Social Security System and been contributing for years then you are qualified to apply for a Salary Loan.


How to be qualified?


  • You must be currently employed, self employed or a voluntary member with 6 posted monthly contributions for 12 months prior to the months of filing of application.
    • Application for one month loan requires 36 posts of monthly contribution
    • Application for two-month loan requires 72 posts of monthly contribution.
  • You must be updated-current in the payment of other member loans, which include educational, stock investment, MADE & housing loans granted under the Unified Housing Loan program (UHLP) or direct from SSS.
  • Your employer must be updated in contributions and loan remittances
  • You have not yet receiving final benefit such as total permanent disability, retirement and death.
  •  You have a clear record and have not been disqualified due to fraud committed against SSS.


For One-Month Salary Loan:


  • For one month salary loan, the average amount to get is equivalent to your 12 monthly credit posted.


For Two-month salary Loan:


  • Two month salary loan is equivalent to twice the average of your latest 12 monthly salary posted but will not exceed to P24,000.


Salary Loan FYI’s:


  • One-month and two month loan is payable for 2 years (24 monthly salary deduction)
  • Salary loan has 10% annual interest.
  • A penalty of 1% interest per month is added in case one failed to pay.
  • A service fee of 1% of the loan is charged and will be deducted from the proceeds of the loan.
  • You can always renew for a salary loan after the prescribed amortization period of two years.
  • The first deduction shall start on the second month following the date of loan.
  • All remittances shall be made on or before the 10th day following the applicable month of deduction to the SSS or to any of its authorized banks.
  • If you are a self employed or a voluntary member, the first amortization shall be paid to the SSS or any of its authorized banks on or before the 10th day of the third month following the date of loan.



Requirements for the Application for salary Loan:


  • If you are currently employed, you must submit SSS Form ISL-101 (Member Loan Application Revised March 2004) and present a digitized SSS ID Cards or E-6 the first amortization shall be paid to the SSS or any of its authorized banks on or before the 10th day of the third month following the date of loan.
  • If you are self-employed, voluntary member, overseas worker, non-working spouse, farmer or fisherfolk and house hold-helper shall submit an accomplished SSS Form ISL-101 and present the digitized ID card or E-6 acknowledgement stub with any two (2) of the following valid IDs, one of which with recent photo and date of birth.
  • Applicants must submit the following:
    • Unexpired Driver’s License
    • Professional Regulation Commission (PRC) ID Card
    • Passport
    • Postal ID
    • School or Company ID
    • Tax Identification Number Card (TIN)


The application for salary loan may be processed in SSS main and regional offices nationwide.

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