Guide on SSS Salary Loan — How to Apply & the Requirements in Applying
SSS SALARY LOAN – Here is a thorough guide on the details of the Social Security System loan offer, the application process, and the requirements.
One of the loans offered by the Social Security System, a social insurance giant in the Philippines, is the Salary Loan. It is a multi-purpose cash loan offer that members of the state-run social insurance agency who are locally employed, self-employed, and voluntary members may apply for.
You may apply for the Salary Loan offer to make a huge purchase, expand your small business, pay for the utility bills, get your car repaired, etc. It is open for members who have posted at least 36 monthly contributions to their accounts.
Below, you can check the SSS Salary Loan details as well as a comprehensive guide for application. You may apply for the loan offer over-the-counter at the nearest SSS branch or online.
The SSS Salary Loan loanable amount may vary among member applicants. The Social Security System has set brackets with regards to the amounts that a member may borrow depending on the total contributions posted by a member.
Application Process
Step 1 — Check if you are qualified to apply for the loan offer. For qualification to the Salary Loan, the member-borrower must meet the following eligibility criteria:
- currently employed, currently contributing self-employed or voluntary member
- has posted at least 36 monthly savings
- employer must be updated in the payment of contributions
- has not been granted final benefit, i.e., total permanent disability, retirement and death
- under sixty-five (65) years of age at the time of application
- has not been disqualified due to fraud committed against the SSS
Step 2 — Prepare the documents needed in applying for the cash loan offer. Here are the documentary requirements based on the filer of the loan application:
If you are the member-borrower:
- duly-accomplished Member Loan Application Form
- SSS digitized ID or E-6 with any two (2) valid IDs (one of which with a recent photo)
- Senior Citizens Card
- Professional Regulation Commission (PRC) ID
- Seaman’s Book
- LTO Driver’s License
- School ID
- Company ID
- Voter’s Identification card/affidavit/Certificate of Registration
- Postal ID
- GSIS Card
- Tax Identification Number (TIN) Card
- Baptismal Certificate
- Overseas Worker Welfare Administration card
- ATM card with cardholder’s name or with certification from bank
- Health or Medical Card
- Credit Card
- Police Clearance
- Transcript of Records
- NBI Clearance
- Pag-IBIG Member’s Data Form
- Marriage Contract
- Seafarer’s Registration Certificate issued by POEA
- Bank Account Passbook
- Certificate from:
- Office of Muslim Affairs
- Life Insurance Policy
- Office of Southern/Northern Cultural Communities
- Birth/Baptismal certificate of child/ren
- Certificate of Licensure/Qualification Documents/Seafarer’s ID and Record Book from Maritime Industry
- Certificate of Naturalization from the Bureau of Immigration
If filed by an authorized representative of the member-borrower:
- duly-accomplished Member Loan Application Form
- SSS-issued Authorized Company Representative (ACR) card
- Letter of Authority (LOA) from employer
- two (2) valid IDs both with signature and at least one with photo
- Member-borrower’s SS card or Application for SS card (SS Form E-6) acknowledgment stub and two (2) valid IDs
If filed by employer or company’s authorized representative:
- duly-accomplished Member Loan Application Form
- Letter of Authority (LOA) from employer
- Member-borrower’s SS card or Application for SS card (SS Form E-6) acknowledgment stub and two (2) valid IDs
- two (2) valid IDs both with signature and at least one with photo
Step 3 — Go to a branch of the Social Security System (SSS) nearest to you and submit your documents. Wait for an update from the state-run social insurance agency regarding the status of your loan application.
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