Good Changes in SSS Salary Loan Program

We’re glad that the SSS has improved its salary loan program.  In January 2011, I wrote on this blog that SSS salary loans are not really low-cost, compared to some bank loans, such as the Credit-to-Cash of BPI Express Credit and the Easy Pay of BDO Credit Cards.

Now,  finally,  SSS has listened to members’ concerns,  and these are the changes:

1.  Maximum loan amount

You can now borrow up to 30,000 pesos. Previous maximum was 24,000 pesos.

2.  No more advance charging of interest.

In the past, you don’t get the whole amount of your loan because SSS deducts your first-year interest.  Dati,  yong sa maximum loan na 24k,  ang nakukuha lang is 21,360. Now,  no more.  You will get a much bigger amount.

Wala pang sinabi about the service charge.  Kung kagaya pa rin ng dati na 1% of the loan amount, yong 30k loan ay mababawasan ng 300 pesos.  Ang 15k loan ay mababawasan ng 150 pesos.

3.  Earlier loan renewal date

You can now renew your loan after paying half of your loan and one year has passed since your loan check date. Dati, antayin mo ang two years, at dapat 500 pesos or less na lang ang  natitirang loan balance.

4.  Members can write their preferred loan amount.

Pero,  sorry,  kasi depende pa rin ang loan amount mo sa average of your latest 12 monthly salary credits na na-post na.

Ito ang mga dati pa ring terms:

1.  Basis of Loan Amount
Depende pa rin sa average monthly salary credit mo over the 12-month period before your loan application date.

2.  Term of Loan

Two years pa rin.  You pay your loan over a period of 24 months.

3.  Interest Rate

Ang annual interest rate ay 10% pa rin. Kelangan din daw kumita ang SSS.

4.  Eligibility for the SSS Salary Loan

Ganon pa rin na you must have paid at least 36 monthly contributions before you can apply for an SSS salary loan.  At dapat nakabayad ka ng at least 6 contributions within the 12-month period before loan application.

4.  Basis of Loan Amount

One-month loan — kapag 36 monthly contributions but less than 72 contributions
Two-month loan — kapag meron nang 72 monthly contributions

All changes had taken effect last December 1, 2012.

Source:  Member News,  SSS website

Chart of SSS Contributions, Philippines

SSS Payment Deadlines for SSS Contributions and Salary Loans


Add a Comment
  1. Hi Nora, I recently applied for SSS salary loan. While going through the process of applying online, I noticed that my name on the SSS website is truncated (I have multiple first names). My “3rd” name is truncated. Instead of Francisco, what appears is Fra. I am worried that this is the name that would appear on the check. My IDs all show my complete name. Will this present an issue while trying to cash the check? Also, with the current process, is an SS ID required (i do not have one)? Thank you!

  2. I would like to ask if you have any idea kung gaano katagal ang processing ng request for correcting the crediting of my loan payments. The payment for my existing loan from March 2013 onwards was credited to my old/previous loan. Right now, eligible na ako but since ung payment was credited it always shows loan will be rejected due to balance is > 15K.

  3. Hi Andrew, sorry di ko na sure ngayon; it might take 1 week or more for the loan balance to be updated, kahit posted na yong payment.

  4. Good afternoon! I need your help re:
    1. Computation of loan delinquency. Better if you could provide an example.
    2. Is it true na once you start paying for the said delinquency, Penalty muna ang first na ise-settle, then Interest, and last ang Principal? It seems na mas tatagal ang pagbubuo ng payment kasi tumatakbo every month ang penalty.

    Thank you so much! Hope you’ll reply asap.

  5. Hi Jamie, your statements in No. 2 are correct. Penalty for late payment or no payment for a certain month is 1% of amount due for that month. 1% is small (1% x 1000 = 10 pesos only for the month), pero kung malaki na yong amount due, halimbawa, full loan amount plus penalties and interests na ang due, 1% becomes bigger (1% x 25k = 250 pesos for the month), and will increase from month to month. Example of actual delinquent SSS loan: A 24k loan taken in 2006 became 55k in 2013.
    So kung delinquent na ang loan, the best is to pay as much as you can every month so you can wipe out the principal faster.

  6. Thank you so much!

    But di ko pa din makuha ang computation. Sorry. I’ll give you a very specific example.
    Here’s our case.
    We got billing statements for MARCH 31, 2014 and for APRIL 30, 2014.
    Employee 1 loaned 25k last June 27, 2013. It says on MARCH 31 Billing Statement:
    Current – 1145.28
    Prin + Int – 8227.13
    Penalty – 320.87
    So the total amount due is 9693.28

    On the APRIL 30 Billing Statement naman, umabot na ang Amount Due ni Employee ng:
    Current – 1145.20
    Prin + Int – 9372.41
    Penalty – 411.90
    Total Amount Due is 10929.51

    Hindi ko makuha yung additional 1%. Parang ang laki ng nadagdag sa one month na tinakbo. Sorry po. Gusto ko lang magcome-up sa amount na nakaindicate sa bill. And thank you again!

  7. Hi Jamie, sorry that I’m unable to go into how SSS arrived at those penalty figures. In my opinion, I think that SSS should not impose penalty if the employee regularly pays his monthly amortization and his employer remits regularly his payment.
    SSS says that it’s now using the diminishing balance formula to compute SSS balances (so we see those current amount due, total amount due, etc). I think that the penalties we see on our loan accounts are the results of automated calculations, and not all employee payments are being considered in these automated calculations because of delays in the remittance and posting of payments.
    Assuming that Employee 1’s monthly loan amortization is 1145.24 (I used an online calculator, and the monthly amortization is 1153, so the figures are about the same), if this employee continues to pay 1145.24 every month for 24 months (or whatever amortization is written on his loan check voucher, and if you as his employer remits his payments to SSS on time, then this employee has nothing to worry about. He’ll be able to pay off his loan in 24 months, without paying those penalties appearing on his accounts. He could increase his amortization to maybe 1146 to cover any glitch. Please ask others too.

  8. hi ms nors good evening po. ask ko lang po hanggang kelan po kaya pwd mag file ng sss educational assistance?.. kc po kaka enrol ko lng po nung may 26 204 sa school gagamitin ko po ang educational assistance ng sss,. hnd ko pa po naisusubmit sa sss ang form na na fill up-an ng school., may dead line po kaya ang pag submit ng form?.. tnx po

  9. Hi cris, if you already have your school statement of account, or payment receipt, and other docs, then you can submit your application. But sad to say, your application will be placed in a waiting list. Or they might tell you to postpone your application and wait for good news about funding. The funding for this program has all been allocated, meaning naubos na for the first applicants (about 56,000 students). Nagkakaroon lang ng new slot kapag merong nagba-backout.

  10. Ms. Nora,

    I’d like to ask lang regarding unposted loan contribution. Coz it came to our knowledge that there were months na without postings. What is the procedure to settle this issue? We have the necessary files stamped by SSS already to present for proof of payment and reporting. Do we need to submit anything to SSS?

    Thank you.

  11. Hi Jamie, check your online account and verify if there are really loan payments that are not posted. If these are recent payments, wait for posting; SSS takes a longer time now to post payments. If there are unposted payments in the past years and the first quarter of 2014, print the page, and then submit a letter to your SSS branch requesting them to post “these unposted loan payments below:” List applicable dates, dates paid, OR nos and amounts paid, together with xerox of your payment ORs.

  12. ms.nora

    mam ask ko lng po,nagloan kc ako sss last year 2013 sa pilipinas sa dati qng work dun..nd ko na po nbyaran ng ilang months kasi nandito na ako singapore nagwork..gusto ko sanang ipagpatoloy parin ang sss ko…kelangan ko bang magchange as self employed at pano po ung payment para sa loan ko.?thanks po

  13. Hi shereen, you continue paying your contribution as OFW. Minimum is 550 pesos. Many remittance businesses at Lucky Plaza collect SSS contributions and payments. For your loan payment, you can continue paying the same monthly amortization, since you’re still within the 2-year window of paying off your loan. But try to pay the equivalent of 2 or more months so you can cover your missed months. Register at so you can track your SSS contribution and loan payments.

  14. Hello Sir/Ma’am my name is Emman and I have an existing loan with SSS. I’m currently employed and SSS deducting my salary every month. I wanted to renew my loan but I havent yet paid the 50% of the total loan. Is there anyway that i can pay the remaining 50% of my loan so that I can renew earlier? e.g. My loan is Php 15,000, my outstanding balance is Php 10,100 and I’m going to pay the php 2600 in order to complete the 50% of my loan as one of the requirement to renew? Many thanks in advance.

  15. Hi Emman, has 1 year passed since the date of your loan check? Another requirement is 50% of loan term should have passed. Yes, you can pay as Individual, using ML1 form (DO NOT write your employer’s SSS no., name and address; write only your SSS no. name and address), but posting of payments and updating of balances takes a much longer time now. So I suggest, you wait, since your loan net amount might not be that much in comparison to what you’ll pay in advance.

  16. Thank you for your post. Yes, 1 year has passed since I applied for a loan. I thought that I can renew but i’m not aware that you need to pay 50% of your total loan is another prerequisite. Do you have any idea how long it will take to show on sss website if i paid for my existing loan? I need to renew ASAP. badly needed for some reason. Thanks again.

  17. Hi Emman, posting might take 1 week and balance updating might take 3 weeks. But don’t rely on my answer, as SSS processing time varies for everyone. Ask others too.

  18. Ask ko lang if naremit na ng company mo ang buong outstanding balance mo sa sss dahil nagresign ka pwede na ba maloan ulit agad? Tutal wala na ng utang di ba.

  19. Hi leah, I think the passage of 1 year since date of loan check is still required, but I’m not sure now, so after your payment has been posted and your loan updated to zero balance, check your loan eligibility in your online SSS account.

  20. Hi Nora:)

    Asked ko lng poh. ano poh ibig sabihin ni SSS dito

    ***Application ineligible for the following reason/s:
    * 50% of the Loan Term has not lapsed. 50% Renew Date is on :10-01-2014?
    Eto po kc ang lalabas once open ko yung loan status update ko

    Salamat poh

  21. Hi lady, it means that 1 year has not passed since the date of your last loan check. The SSS salary loan term is 2 years; loan renewal requires the passage of 50% or one-half — that means 1 year.

  22. Hi Ma’am Nora,
    I’m planning to renew my salary loan in November. My existing balance is 8,914.71 and I’m aware that I can only renew my loan once I paid for the half of the total amount of the loan which is 7500. I’m paying my loan every month through payroll for the amount of 692.17. My question is, in November my loan balance will be 7530.37 but the requirements to have a loan in my situation is to have less than or equal to 7500 loan balance. Is there any case that I can please SSS to have a loan even there is a 30.37 excess? Just badly needed in November. Can’t wait for December. Many thanks in advance. =)

  23. Hi Emman, you can pay 50 pesos using ML1 form anytime this quarter to cover the 30.37 excess. Observe through your online SSS account how fast your monthly payments are posted. Employers usually submit the collection list after every quarter.

  24. Thank you for answering my question. Shall I go ahead and proceed to the nearest SSS branch in my place and ask for ML1 form and advise them that I only need to pay php 50? I check the form that you’re pertaining with and I’m a little bit confuse because its only asking for my employer’s information and not my information. I also don’t know where to put the amount that i want to pay. Sorry for being such an ignorant. =)

  25. Hi, It’s my first time to apply a loan from SSS after working and contributing for almost 8 years. When I checked my loan status on their website, I got this message:
    “Application ineligible for the following reason/s:
    * 50% of the Loan Term has not lapsed. 50% Renew Date is on :11-01-2015″
    How come? Thanks!

  26. Hi VMD, have you just filed your loan application? And was accepted? Because if your renewal date is Nov 1 2015, then your loan application must have been filed Sep 1 2014. Based on SSS policy, the monthly deduction starts on the second month after loan check issuance. Now if you have not filed any loan application, there’s something very wrong, and you should go to your SSS branch asap to inquire and complain.

  27. Hi Ms. Nors,

    id like to ask a question re my loan renewal. i was advised by our HR Dept that i am eligible for a renewal but we have to wait for Oct until SSS had posted my last payment. Normally, how long does it take to process the renewal and get the check after i filled up the application form ? cause il be needing the money for my son’s 1st bday by nov. 2, i hope u can help me.
    or can i fill out the form earlier while waiting for SSS to post the payment?

    thank you in advance!

  28. Hi cessy, ask your HR if your company is enrolled online so you can file your application online and so they can certify and endorse it, as soon as you see your last payments are posted online. Or ask if it’s better filing over the counter at SSS. Approval is usually within a few days, but the check delivery takes about a month now, based on comments online.

  29. Hi Ms. Nora, from being an sss member under employed sector from 2001 to 2003, I continued my contribution as a voluntary member from 2003 up until March 2013. In between those years I was able to obtain a loan of P5,000 and eventually paid the amortization in full for less than 2 years. In April 2013, I am once again an sss member under employed sector. Upon going online to see if I could loan again, it says there that I am ineligible for the following reason:
    *Employer delinquent in payment of Loan remittances: 06-01-2010
    Total amount of delinquencies P5,031.12
    My concern is how come I cannot loan, when during that given date I was a voluntary member, religiously paying my monthly contributions and my previous loan? I was not yet an employee of my present employer during that time. I think it is unfair as I’m updated in my contributions and I have paid in full my first loan and the delinquency is that of my employer way back in 2010 and I should not be part of it. Is that really an SSS policy before the approve a loan? That the employer is not delinquent? Thank you so much!

  30. Hi Marjorie, I hope I’m correct that the SSS website system is still having glitches, so your loan eligibility response is not updated. The website has been on an updating mode since months ago. Yes, there’s a rule that if your current employer is delinquent, you cannot apply for a loan. But the delinquent employer is no longer your employer, so your application should be accepted. Is your new employer already posted in your online account as your employer? Do you already have a contribution remitted by your new employer and already posted online? Wait a while before applying; check from time to time if the website is already fully functioning and your loan eligibility response is already okay.

  31. Hi Ms. Nora, I inquired at sss here in catanduanes. I have 33 mos contribution, and last posted was february 2014, when I resigned from my previous work. For 5 mos I didn’t pay sss but since july i have new employer and they deducted for sss 4 times already but we can’t see these payments in the system at sss here. With 33 mos plus 4 times deducted by new employer equal to 37 mos of contributions, can I file for a salary loan through my employer in Legaspi City so it will be processed there? Is that possible? Can I loan even if I had gaps in payments from march to june 2014? Hope you reply. Thanks. God Bless You.

  32. Hi frensie, you can file your salary loan form only after your latest contributions are posted and your total no. of posted contributions is at least 36. You can loan even if there are payment gaps, as long as you have accumulated at least 36 posted contributions. Since you’re employed, you must file your loan through your employer. If your employer is enrolled with online SSS, then you can also register at so you can check your loan eligibility online and file your loan online (your employer will endorse your loan online).
    The SSS website is not yet fully functioning, so this could be the reason your latest payments are not yet appearing, or your employer has not yet remitted your contributions to SSS.

  33. Hi, Good day! I just would like to ask. I resigned last July 2014 and i have paid my previous salary loan already.can i still apply for sss loan even if I’m unemployed until now?Thanks

  34. Hi ia, yes, if one year has passed since your first loan check date, and if you have at least 6 contributions within the past 12 months. Register online so you can check your loan eligibility.

  35. Hi Ms. Nora. After I resigned from my previous work, I had an existing loan which I havent paid for more than 2 years. I will start working again after 2 years and I have a new employer. Will my new employer deduct the whole outstanding balance amount from my salary? Thanks!

  36. Hi Savvy, no, your new employer will not know you have an existing loan, unless you tell them, because you did not apply for that loan through them. After maybe 1 month or 2 months of working with them, you can print your loan details from your online account, and then ask your accounting/HR to make deductions every month to pay off your SSS loan.

  37. Hello Nora, I still have an exiting loan (2nd loan) with SSS. 2nd loan before was 24k way back 2012. I was able to pay at least 10k of it with my previous employer until December 2013. After that I resigned and moved to another company. I moved to different companies over this year of 2014 so and did not let my employers deduct my salary to pay off my SSS loan. Now I checked my SSS online account, I have a balance of 16k, I am willing to pay now at least 5k of it so that my balance will become 11k. And base to SSS new re-loan policy, a member can now re-loan once they paid at least half of it. My question is, what if I do this and file a re-loan, will I be getting a 15k salary loan or 30k salary loan even my contributions from 2013-2014 are not continuous?

  38. Hi sugar, you can pay 6k to reduce your loan, and then after several days, check your loan eligibility if you’re already eligible. Your salary loan amount is based on the average of your salary credits for the past 12 months. You should also have 6 contributions or more within the past 12 months. Your old loan balance will also be deducted from your new salary loan amount.

  39. Hi po. Gusto ko po sana mag renew ng loan sa sss. Whenever I check my loan eligibility, it doesnt show how much i still owe or how much I should pay so I can have at least 50% payment out of my loan amount. Ang nakalagay lang po eh 50% of the loan term has not lapsed. 50% renew date is on 08/01/2015. Ibig po sabhin, di ba ako pwedeng mag loan? Pano kung mbyaran ko na ung half ng loan amount ko? Di pa rin ako mkakapag loan ult? Saka, wla pa akong 72mos na contributions, so ibig po sbhn di pa ko eligible for a two month loan? First loan ko amounted to 14000 so gnun pa din ung pde kong irenew? Tpos madedecut ung kalahati ng balance ko since di pa ko tapos magbayad dun eh? I need some clarification. Hope you can help. Thanks

  40. hi ms. nora, I have my overdue salary loan and not settled. June 2012 was my 1st loan amounting to 15000. total amount paid is only 3,937.44. last payment done in January 2013. as of today my loan balance is 14,499.22. how can i settle it through monthly payments without interest and/or penalties. thanks in advance.

  41. Hi Anagee, sorry, if you pay by installments, the interest and penalties will continue to be applied. Penalties are only reduced if there’s a loan condonation program, but I don’t know when the next program is offered, or if there’s one program within the next few years. The best option is to make large installments, so you can pay off your loan over a shorter period of time.

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