SSS Salary Loans In The Philippines

Social Security System is an official government policy to establish, develop, and promote a sound and viable tax-exempt social security system suitable to the needs of the people throughout the Philippines, which shall promote social justice and provide social security, such as covering expenses in the event of disability, death, illness, or motherhood, as well as paying an old-age benefit.

Every working Filipino in the Philippines, whether contractual or regular, is required to contribute to the country’s social insurance system. So, it’s mandatory if you’re employed, but what about self-employed people, Overseas Filipino Workers (OFWs), and those in the non-working sector (NW). Unlike the Pag-Ibig Fund and PhilHealth, membership is entirely voluntary.

The Social Security System in the Philippines is a government social insurance program for workers in the private, specialist, and informal sectors. The Social Security Administration was established on September 1, 1957, by Republic Act No. 1161, considered as the Social Security Act of 1954. This law was later modified in 1997 by Republic Act No. 8282. Government employees, on the other hand, are covered by the Government Service Insurance System (GSIS), a state pension fund.

SSS Salary Loan Header Image


The system must ensure social justice and protect its members and beneficiaries from unforeseen events that cause income loss or significant financial loss. The SSS, which was established in 1957, is a government agency that provides retirement and health benefits to all paid-up employees in the Philippines. SSS members can also make ‘salary’ or ‘calamity’ loans. Salary loans are based on the employee’s monthly salary. Calamity loans are for times when the government has declared a calamity in the area where the SSS member lives, such as flooding, earthquakes, and natural disasters.

The main benefit of the Salary loan is the lower interest rate. Today, the interest rates on a one-month salary loan and a two-month salary loan are the same, at 10% per year. Another benefit is the relatively long payout period of 24 months. This period allows you to obtain a large credit amount while making adequate monthly payments. The third advantage is the online application mode and the quick and easy approval.

You no longer need to go to the office to obtain an SS Number if you do not already have one. To obtain an SS Number, the system provides an online SSS application. The system provides a one-month and a two-month salary loan. These loans have a lower loan interest rate and a 24-month maturity period.

Any participant who has paid 36 monthly charges, 6 of which must have been paid within the last 12 months, is eligible for a 1-month Salary loan. To be approved for a 2-month Salary loan, the participant must make 72 monthly payments, six of which must be made within the previous 12 months. These preferential loans are available for a variety of purposes, including home repairs, purchasing household appliances, spending for children’s education, and more. Application processing typically takes 5 days.

One-Month Salary Loan

Interest rate: 10% APR
Total loan amount: estimate of the member-borrower’s newest posted 12 Monthly Salary Credits
Payment terms: Up to 24 months
Approval time: 3-5 banking days
Requirements: 36 quarterly installments, which 6 of it were due in the last year

Two-Month Salary Loan

Interest rate: 10% APR
Total loan amount: estimate of the member-borrower’s latest posted 24 Monthly Salary Credits
Payment terms: Up to 24 months
Approval time: 3-5 banking days
Requirements: 72 quarterly installments, which 6 of it were due in the last year

Below is the SSS Salary Loan Philippines program which can be accessed online and will surely provide financial assistance and help you create a disbursement account in no time:

Social Security System

Social Security is a government-run program that offers benefits to workers who are unable to work due to old age, disability, or death. The program is funded by both employee and employer contributions, and there are several different perks that can be claimed.

Loan term

3 – 24 months

Minimum Loan Amount

5 000 PHP

Maximum Loan Amount:

1 000 000 PHP

Interest Rate

0,8% – 1,5% per month

Approval Time

5 banking days

The SSS can be considered as compulsory or voluntary.

Compulsory Insurance

  • The employer obligatorily deducts P73.70 to P1,178.70 a month based on 31 income classes to the fund;
    • Insured person gives P36.30 to P581.30 a month based on 31 income classes to the fund;
    • Self-employed individual P110 to P1,760 per month based on 31 income classes;
    • Government finances any deficit.

Voluntary Insurance

  • OFW (Overseas Filipino workers)
    • persons who previously had compulsory insurance
    • non-working spouses of insured persons.

All members, regardless of which program they are insured under, are eligible for a salary loan. To send an application for a credit, they need to begin preparing the supporting information:

  • Digitized SSS or E-6 ID
  • 2 ID with photo
  • Online SSS Membership
  • Requirements for OFW

Borrowers may have questions when completing the SSS form because it is very detailed. Overall, the paperwork is much easier than in a bank because the borrower is not required to sign a loan agreement.

For faster loaning processes, visit and consider Upfinance Loan Philippines. Upfinance is a website that aggregates all available loan offers in the Philippines. On this website, users can compare financial products such as deposits, credit cards, collateralized and unsecured loans.

You can use the service to compare different types of loans and credit companies. Our goal is to provide comprehensive information about financial services and to help Filipinos find the best deal. When using Upfinance, users can quickly become acquainted with all available products, calculate monthly payments using our loan calculator, and send a loan application to all credit organizations at once.

Upfinance has been providing information services since 2016. For years, they’ve kept their finger on the pulse of Philippine loan offers, keeping track of all the changes and new items. The service began sending loan applications to all financial institutions in 2021. All user data is encrypted from beginning to end using an SSL certificate.

After successful registration, do the following:

  • Click on “Electronic Services”.
  • Click “Apply for SSS Salary loan”. Your credit limit will be displayed automatically, but you can borrow less.
  • Once approved, you will receive the credit funds thru your PESONet participating bank savings account. If you don’t have a bank account to register, just wait for your employer to issue a paycheck.
  • Agree to the terms of service.

If you want to place an application for a SSS salary loan, go to UpFinance by clicking on this link.

SSS Salary Loan Article Image


If you are interested in even more business-related articles and information from us here at Bit Rebels, then we have a lot to choose from.