SSS Loan Application: Your Step-By-Step Online Guide!

The new and improved SSS salary loan application is one of the most convenient solutions for unplanned expenses—may it be sudden home renovations, educational fees, starting your own business, or even buying a new house. The good news is, applying for an SSS loan is easier now that you can accomplish it online!

Here, we’ll cover all you need to know about SSS loan applications. From SSS eligibility, SSS loan requirements, to step-by-step processes–get to know all the nitty gritty details here.

The SSS (Social Security System) salary loan allows employed individuals, currently contributing self-employed or voluntary member to borrow money in aiding their short-term financial goals.

Before jumping into the process of applying for an SSS loan online, know if you’re eligible through these requirements.

• You must be an employed, currently contributing self-employed or voluntary member.
• For both one and two month loans, six of the contributions should be posted within the last 12 months before filling the application form.
  • One month loan - You must have a total of 36 contributions posted monthly.
  • Two month loan – You must have a total of 72 contributions posted monthly.
• Employer must be updated in the payment of the contributions.
• The individual has NOT been granted permanent disability, retirement and death.
• The individual MUST BE under sixty-five (65) years of age at the time of the SSS loan application.
• The individual has not been disqualified for fraud against the SSS.

If you’re a regular member, an authorized representative, employer/company’s authorized representative, and lastly, an OFW, carefully read these requirements and needed documents before applying for your SSS loan online.

For Members and Borrowers 

• Member Loan Application Form
• An SSS digitized ID or E-6
• Two valid IDs, one with a recent photo

Here are the Valid IDs for SSS loan authentication:

• Unexpired Driver's License
• Professional Regulation Commission (PRC) ID card
• Passport
• Postal ID
• School or Company ID
• Tax Identification Number (TIN) card
• Seaman's Book
• Membership card issued by private companies.
• Overseas Worker Welfare Administration card
• Senior Citizens card
• Birth Certificate
• Marriage Contract
• NBI Clearance

For Member-Borrower's Authorized Representative

• Member Loan Application Form
• Authorized Representative's SSS card
  • Or two valid IDs (both with signature and at least one with photo).
• Letter of Authority (LOA) signed by both the member and authorized representative.
• Member-borrower's SSS card.
• Or any two valid IDs (both with signature and at least one with photo).

For Employer/Company's Authorized Representative

• Member Loan Application Form
• Authorized Company Representative (ACR) card issued by SSS
• Letter of Authority (LOA) from employer and any two (2) valid IDs (both with signature and at least one with photo)
• Member-borrower's SS card or in its absence, E-6 acknowledgment stub and any two valid IDs (both with signature and at least one with photo)

For OFWs

OFWs can apply for an SSS salary loan through their designated SSS Foreign Representative Offices in their current country. In such cases that there are NO Foreign Representative Offices in their area, another option is to designate a representative in the Philippines to submit their application and documents.

Good news! You no longer have to wait in long lines or ride the Manila traffic to apply for an SSS Salary Loan since the entire process can be accomplished online. All you must do is to make sure that the application is certified by the employer. Meanwhile, self-employed, or voluntary members can apply online or to the nearest branch in their area.

Step 1: Create a My.SSS Account

You have two options in creating your My.SSS account. Either you go to an SSS branch, or you can do it online. Here’s a quick break down on how to register for an account online:

• Go to the SSS Online Registration Page (member.sss.gov.ph) and click REGISTER
• Provide the required information. Once done click OK
• Check your email (wait at least half an hour to receive the email)
• Activate your My.SSS account

Step 2: Enroll a bank account for the SSS salary loan disbursement

Before applying for any benefit or loan, your disbursement account must be enrolled in your My.SSS account. Here’s how!

• Log in to your My.SSS account.
• Click Disbursement Account Enrollment Module (DAEM)
• Read the reminders on account enrollment and tick the box to certify that you have understood them. Click PROCEED.
• Choose your payment option:
  • PESOnet
  • Participating Bank
  • E-Wallet
  • Remittance Transfer Company (RTC)
  • Cash Payout Outlet (CPO)
• Encode the required disbursement account number or mobile twice. For SSS salary loan disbursement through bank account, please note that you can upload an of the following:
  • ATM card that shows the full account number, account holder’s name, and the issuing bank 
  • Bank certificate/statement (issued after 2019)
  • Foreign remittance receipt
  • Passbook
  • Screenshot of online and mobile bank accounts
  • Validated deposit slip
• Tick the box to agree to the data collection and usage clause.
• Click Enroll Disbursement Account, then OK
• Check your email inbox for a confirmation notice.

Step 3: File Your Salary Loan Application Online

Almost at the finish line! If you have accomplished all the requirements above, then you’re all set to apply for your salary loan online. Follow these easy steps:

• Log in to your My.SSS account
• Click on E-Services > Loans > Apply for Salary Loan (Note: Your loanable amount and local mailing address will be displayed.)
• Select your desired loan amount. You can choose to borrow an amount lower than what is displayed.
• Select the disbursement account where you want to receive the loan proceeds.
• View, download, and print the Loan Disclosure Statement. This document contains your monthly amortization schedule and loan interest!
• After viewing the statement, click on PROCEED
• A notification message will appear with your SSS salary loan application details. Please keep a copy of your transaction number. A message will also be sent to your registered email address and My.SSS account.

You may have more questions in mind about SSS loan applications. We hope these answer some of them!

How much is the first loan in SSS?

The salary loan is equivalent to one month’s worth of salary given that you have completed at least 36 months of total contributions, six (6) months which has been posted in the last 12 months (before the month of application).

How do I check if my SSS loan is approved?

You can check through your My.SSS account and click on INQUIRY and then LOAN INFO. Here, you’ll be able to see your loan status and other details. On another hand, you’ll also receive a notification via SMS if the loan proceeds have been credited to your disbursement account.

How do I compute the salary loan or loanable amount in SSS?

A one-month salary loan is equivalent to the average of the member-borrower's latest posted 12 Monthly Salary Credits (MSCs), or amount applied for, whichever is lower.

How many days will it take before the SSS loan is released?

The loan will be available to the member/borrower’s account within three to five working days upon the approval date of the loan.

Now that you’re equipped with a comprehensive understanding of the entire SSS loan application, you are now ready to secure your SSS loan through an online platform! To explore other flexible loan options, consider visiting Home Credit’s product loan page.

Additionally, if you’re looking for a more accessible and user-friendly experience, download the Home Credit app which provides a convenient platform to manage and track you loan applications effortlessly.