The SSS Salary Loan is one of the most popular short-term loan benefits offered by the Social Security System (SSS) in the Philippines. If you’re wondering how much you can borrow and how the amount is computed, this guide will walk you through the full process step by step.
📌 What is a Salary Loan?
An SSS Salary Loan is a cash loan granted to SSS members to meet their short-term financial needs. The amount you can borrow depends mainly on your Monthly Salary Credit (MSC) and the number of monthly contributions you’ve paid.
🧾 Eligibility Recap
Before we compute anything, you must be eligible:
At least 36 total posted contributions for a 1-month loan
At least 72 total posted contributions for a 2-month loan
Six (6) contributions in the last 12 months
Active employment status or valid SSS voluntary membership
Employer must be up-to-date in remitting contributions
💡 What is the Monthly Salary Credit (MSC)?
The Monthly Salary Credit (MSC) is the basis for computing your benefits and loans. It is determined by your reported monthly salary based on SSS’s salary brackets. Even if you earn ₱22,000/month, your MSC could be capped based on the bracket you fall under (e.g., ₱20,000).
You can find your MSC in your SSS online account or check the latest SSS Contribution Table.
📊 Loan Amount Computation Formula
✅ 1-Month Salary Loan
Loan Amount = Average of the last 12 Monthly Salary Credits, rounded down to the nearest ₱500
Example:
MSC for last 12 months: ₱15,000
Average MSC: ₱15,000
Loanable amount = ₱15,000, rounded to nearest ₱500 = ₱15,000
✅ 2-Month Salary Loan
Loan Amount = 2 × Average of last 12 Monthly Salary Credits, rounded down to the nearest ₱500
Example:
MSC for last 12 months: ₱20,000
2-month loan: ₱20,000 × 2 = ₱40,000
Rounded down = ₱40,000
🧮 Sample Computation Table
Average MSC
1-Month Loan
2-Month Loan
₱10,000
₱10,000
₱20,000
₱12,300
₱12,000
₱24,000
₱18,750
₱18,500
₱37,000
₱22,900
₱22,500
₱45,000
📌 SSS always rounds down to the nearest ₱500, so ₱18,750 becomes ₱18,500.
📉 What About Interest?
Once the loan is granted, SSS applies a:
10% per annum interest, computed on the diminishing principal balance
24 monthly amortizations (2 years)
A 1% service fee may apply
The monthly payment depends on the loan amount and interest. You can estimate your monthly dues using a calculator.
🔗 Compute Yours Instantly with Our Calculator
Instead of doing the math yourself, you can use this free and easy tool:
Just enter your estimated MSC and choose either 1-month or 2-month loan to see:
Total loanable amount
Estimated monthly amortization
Total interest over 24 months
📠Reminders Before You Apply
You can only apply for a new loan once the current one is fully paid.
Always keep your contributions updated.
Late payments result in penalties and extra interest.
You must have no existing benefit overpayment or disqualification.
✅ Conclusion
SSS Salary Loans are based on your actual salary contributions, not just your monthly income. The average MSC over the last 12 months is key, and whether you qualify for a 1-month or 2-month loan determines how much you can borrow.
Use your MSC wisely, and calculate before applying so you know what to expect.
