How to Apply for SSS Salary Loan Online (and get it in two weeks)

Good news!
SSS Online website now allows any valid SSS member to apply for an SSS Salary Loan online!
This is an alternative to in-branch application if you already have an active MySSS Account.

Just for the sake of trying, I tried applying for this benefit online in their website and was surprise to receive the check in two-weeks’ time. It was a Php 32000 Salary loan upon my first application less 1% processing fee giving me a net of 31, 680.

The following table shows the payment schedule spread within two years in 24 equal monthly installments. The loan is charged a nominal interest of 10% per annum. For employed member-borrower, the first salary deduction shall start on the second month following the date of loan.

Just to reiterate, I did this SSS salary loan application for trying’s sake and don’t really recommend incurring a loan especially if you have poor discipline in payment and money handling. I presently don’t see a need in my life for any loan (praise God!), but this info may be helpful for others who could have valid short-term credit needs.

Another thing to note should you decide to take out a loan: the processing time may vary in your case depending on the type of support that your employer will give in your application. Specifically, your employer need to certify your application before SSS can proceed with the next steps. Make sure you follow-up your employer (or HR department) for that needed action from their end right after submitting your application just to make sure they are informed.

Your eligibility and applicable loanable amount will also depend on the number of contributions you have made and other past transactions or obligations you may have had with SSS.

How to apply for an SSS Salary Loan

There are only three simple steps I did to apply for the loan:

(1) Create a MySSS account online
Go to https://sss.gov.ph and in their homepage, click the button for registration.
This is a one-time registration only and you will need your CRN/SS number and a working email address.

 

(2) Apply for a Salary Loan Benefit
Once your account is active, and you have a working SSS online account, then you can try to apply online for SSS Salary loan under E-Services.  Here you will get your transaction number.  At this point, inform your employer of your application.

 

 

 

 

Below is additional info from MySSS website:

A borrower may file the salary loan application at the branch nearest the place of residence or business. A member who is registered at My.SSS can submit the salary loan application online. The salary loan submitted online by an employed member will be directed to the employer’s My.SSS account for certification, hence, the employer should also have an SSS Web account.

 

OFW members may also file their salary loan application at the SSS Foreign Representative Offices in selected countries. In case there is no SSS office in a particular country they may send their application and supporting documents to their relatives here in the Philippines and authorize them to file at the SSS branch. Documents issued in other country should be duly authenticated or certified by the Philippine Consulate Embassy.

 

Note: The employer shall submit an updated Specimen Signature Card (SS Form L-501) to be updated annually to avoid delay in the processing of salary loan applications.
Complete details including eligibility and filing procedures are available here.

This is also a good time for you to explore the site and verify the recorded contribution payments your employers, including the previous ones, have made.

(3) Wait for the check
The waiting begins here assuming there’s nothing that could delay or disapprove your application.

In my case, it took less than two weeks before my employer sent me a notice that the check had come from SSS and is available for pick-up.

That’s just it!

Overall, the process is easy and smooth for a first time loan.
If you have more questions, you can write it in the comments below or contact SSS directly via email (member_relations@sss.gov.ph) or thru their Facebook page.

– Omeng 😉

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