If you’re a qualified member of the Social Security System (SSS), the SSS Salary Loan offers a convenient way to borrow money based on your salary and contribution history. Whether you need extra cash for emergencies, tuition, or daily expenses, this loan can be a valuable financial lifeline.
Let’s explore how much you can borrow, how it’s calculated, and how to estimate your monthly payments.
🧾 Eligibility First: Who Can Apply?
Before calculating how much you can borrow, you must first be eligible for the loan. Here are the basic requirements:
You must have at least 36 monthly contributions posted in your SSS account.
Six (6) of those contributions must be within the last 12 months before the month of loan application.
You must be currently employed, self-employed, OFW, or a voluntary member.
You must be under 65 years old at the time of application.
Your employer must be updated in remitting contributions if you are employed.
You must not be disqualified due to fraud, unpaid loans, or benefits.
💰 Loanable Amounts: 1-Month vs. 2-Month Loan
SSS salary loan offers two tiers of borrowing:
🔹 1-Month Salary Loan
You can borrow the average of your latest 12 Monthly Salary Credits (MSCs), rounded down to the nearest multiple of ₱500.
Requirements:
At least 36 posted monthly contributions
At least 6 posted within the last 12 months
🔹 2-Month Salary Loan
You can borrow twice the average of your latest 12 Monthly Salary Credits, also rounded down to the nearest multiple of ₱500.
Requirements:
At least 72 posted monthly contributions
At least 6 posted within the last 12 months
📊 Monthly Salary Credit (MSC) Explained
The Monthly Salary Credit is a value used by SSS to determine your benefits and loan eligibility. It’s based on your actual monthly salary but falls within a structured range set by SSS (currently ₱4,000 to ₱30,000+).
So even if you earn ₱34,000 per month, your MSC might be capped at ₱30,000, depending on the SSS contribution table.
🧮 Example Loan Computation
Let’s say you are eligible for a 2-month loan, and your average MSC is ₱20,000.
Loanable Amount: ₱20,000 × 2 = ₱40,000
Rounded down to the nearest ₱500 = ₱40,000
Payment Terms:
Interest: 10% per annum (computed on the diminishing balance)
Term: 24 months
Monthly Amortization: Depends on principal + interest
💡 You can calculate your exact amortization using the free tool below.
🔗 Try the SSS Salary Loan Calculator
You don’t have to guess how much you can borrow or what your payments will be.
Just enter your estimated Monthly Salary Credit, choose 1-month or 2-month loan, and view your full amortization schedule instantly.
📝 Final Notes
Loan proceeds are usually released via check, UMID-ATM, or PESONet.
If you have an existing unpaid salary loan, you must settle it first before applying for a new one.
Loans not paid on time will incur penalties and affect your future eligibility.
If you’re planning to apply, make sure your contributions are up-to-date and check your latest MSC to get a realistic estimate of how much you can borrow.
