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SSS Salary Loan: Online Application Process and Requirements

SSS Salary Loan: Online Application Process and Requirements

Everyone’s feeling the financial strain caused by the pandemic-led economic recession, with some households suffering more than others. Those who need financial assistance can look into government-backed loans, such as the SSS salary loan.

SSS members who are currently employed or paying as a self-employed or voluntary member are eligible for this cash loan. This loan program is designed to help you with your immediate or short-term financial needs, so you can borrow either a one-month or a two-month loan. The amount you can loan is based on your total SSS contributions.

Due to the COVID-19 pandemic, SSS now allows online salary loan applications. The process is the same whether you’re applying through the website or the SSS mobile app.

Here’s everything you need to know and prepare if you’re applying for an SSS salary loan online.

Eligibility Criteria for SSS Loan

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For a one-month loan, you need a minimum of 36 monthly payments. At least six of these should have been posted within the last 12 months prior to the month you’re applying.

For a two-month loan, you need a minimum of 72 monthly payments. At least six of these should have been posted within the last 12 months prior to the month you’re applying.

Apart from the required number of posted monthly contributions, you must also meet the following eligibility criteria:

  • You must be below 65 years old
  • You must not have been granted final benefit (e.g., total permanent disability or retirement and death)
  • You must not have been disqualified as a member due fraud against SSS
  • If you’re employed, your employer must be updated with your monthly payments

Application Requirements for Your Online Loan

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The required paperwork for an online SSS salary loan application is the same regardless of your membership status (i.e., voluntary or employed). But you’ll need to submit more documents if you’re planning to have someone else apply in your stead.

Below is the list of documents you need, depending on who’s handling the application:

For Member-Borrowers:

  • An accomplished member loan application form (downloadable from the SSS website)
  • Digital copy of your SSS ID or an E-6 acknowledgement stub
  • Two valid IDs, with one bearing a recent photo

For Member-Borrower’s Authorized Representative:

  • Member-borrower’s loan application form
  • Letter of authority signed by the member-borrower and the Authorized Representative
  • Authorized Representative’s SS card OR any of his or her two valid IDs
  • Member-borrower’s SS card OR any of his or her two valid IDs

For the Employer or Company’s Authorized Representative:

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  • Member-borrower’s loan application form
  • SSS-issued Authorized Company Representative (ACR) card
  • Letter of authority from employer
  • Employer’s two valid IDs
  • Member-borrower’s SS card OR E-6 acknowledgement stub and two valid IDs

How to Apply for an SSS Loan Online

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Create an account on My.SSS if you haven’t yet. Once you’re registered, follow these steps:

  1. Go to “E-Services.”
  2. Click “Apply For Salary Loan.” Complete the loan application form then submit.
  3. The amount you can loan should automatically show. You can borrow that entire amount or choose a lower figure.
  4. If you meet the eligibility criteria, your loan should be automatically approved.
  5. You’ll receive the funds depending on the method you selected upon application.
  6. Read the terms and conditions then check the “I agree to the Terms of Service” box to proceed.
  7. Read the loan disclosure statement that appears. Download or print out the statement so you have a copy. Click “Submit.”
  8. A confirmation message will appear. Note the transaction number or refer to the email notification you received for future reference. You can use this to check the remaining balance of your SSS loan online.

Repayment Schedule of Your SSS Loan

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The monthly amortization starts on the 2nd day following the date of the loan. The loan is payable in 24 monthly installments.

Here’s the payment schedule based on your membership status:

Photo downloaded from the SSS website

BancNet debit cardholders can make their SSS payments online through Note that failing to meet the due date will incur a penalty of 1 percent per month until your loan is fully paid.

If you have questions about other loan matters, you can call the SSS trunkline number at (632) 8920-6401.

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