Is the SSS Loan Voucher the Same as the Loan Confirmation?
/
Is the SSS Loan Voucher the Same as the Loan Confirmation?
When you apply for an SSS Salary Loan, you might notice two important documents in your My.SSS account — the Loan Voucher and the Loan Confirmation. Many members get confused and think they’re the same thing, but they actually serve two different purposes.
In this guide, we’ll explain their difference, what each one means, and how both play a role in the release of your SSS Salary Loan. You’ll also learn how to check your voucher details, when to expect your loan credit, and how to use the SSS Salary Loan Calculator to estimate your loan amount and monthly amortization.
🏦 Understanding the SSS Salary Loan
The SSS Salary Loan is a short-term financial assistance offered to employed, self-employed, and voluntary SSS members. It allows you to borrow money based on your Monthly Salary Credit (MSC) — essentially your average salary basis as reported to SSS.
The loan is meant to help members cover short-term financial needs like bills, school fees, or emergency expenses. Depending on your contributions, you can apply for either a one-month or two-month salary loan.
Loan Basics:
Interest rate: 8% per year
Loan term: 24 months for a 2-year loan
Service charge: 1% deducted from the approved amount
Amortization: Monthly, via employer payroll deduction
📄 What Is an SSS Loan Voucher?
The SSS Loan Voucher is the official document issued after your loan has been approved and credited to your disbursement account (usually your UMID-ATM or bank account enrolled in My.SSS).
It contains a full breakdown of your loan, including:
Loan Amount Approved
Service Fee Deduction (1%)
Pro-rated Interest Deduction
Net Amount Credited
Loan Date of Approval
First Payment Due Date
Monthly Amortization
In simple terms, the voucher is your proof that SSS has released your loan — similar to a payslip that shows deductions and net pay.
✅ What Is a Loan Confirmation?
Before your voucher is generated, you’ll receive a Loan Confirmation Notice in your My.SSS account or email.
This is a pre-approval acknowledgment, showing that your loan application has been reviewed and accepted by SSS. However, at this stage, the money has not yet been credited to your account.
The Loan Confirmation serves as:
A notice of approval pending release.
Your agreement to the loan’s terms and conditions.
A signal that the disbursement process will start soon.
🔍 Key Difference Between Loan Voucher and Loan Confirmation
Aspect
Loan Confirmation
Loan Voucher
When issued
Before crediting
After crediting
Purpose
Notifies approval
Details actual release
Contains
Loan type, amount, and terms
Full breakdown with deductions
Money credited?
❌ Not yet
✅ Yes
Serves as proof of release?
❌ No
✅ Yes
In short: 👉 Loan Confirmation = “Your loan is approved.” 👉 Loan Voucher = “Your loan has been released.”
💡 Why the Loan Voucher Matters
The loan voucher isn’t just a formality — it’s your official record of the transaction. It confirms:
The exact amount you received after deductions.
The start date of amortization (when you’ll start paying).
The loan control number used for tracking or inquiries.
You’ll need your voucher when checking your balance, verifying deductions, or renewing your SSS loan later on.
How much you can borrow based on your contributions
Your expected deductions (service fee and pro-rated interest)
Your monthly amortization
Example Computation:
Suppose your Average Monthly Salary Credit (AMSC) is ₱20,000. You apply for a 2-month loan:
Approved loan amount: ₱40,000
Service charge (1%): ₱400
Pro-rated interest (approx.): ₱219.18
Net proceeds: ₱39,380.82
Monthly amortization (24 months): Around ₱1,800
So when you download your Loan Voucher, you’ll see these deductions listed exactly like this breakdown.
📆 Loan Eligibility and Requirements
For a 1-Year Loan:
At least 36 posted contributions
6 contributions within the last 12 months
For a 2-Year Loan:
At least 72 posted contributions
6 contributions within the last 12 months
Other Requirements:
Must be currently employed, self-employed, or voluntary member
No existing overdue SSS loan
Updated contributions
Has a registered disbursement account (UMID-ATM or enrolled bank)
🕐 Timeline: From Application to Voucher
Application Submitted via My.SSS
Employer Certification (for employed members)
Loan Confirmation Notice – SSS approves your loan
Credit to Bank Account within 3–5 working days
Loan Voucher Issued – viewable and downloadable from your account
If you haven’t received your loan voucher yet, it means your loan release is still being processed.
💸 What Deductions Appear on the Voucher?
Here’s what you’ll see itemized:
Gross Loan Amount – The total approved before deductions
Service Fee (1%) – Automatically deducted
Pro-rated Interest – Covers the period between approval and the next month
Net Proceeds – Actual credited amount
Monthly Amortization – Amount deducted from salary or to be paid monthly
Due Date of First Payment
Each entry ensures transparency in how SSS calculates and releases your loan.
⚠️ Common Mistakes Members Make
Confusing confirmation with release: Approval ≠ cash credit.
Not checking the disbursement account: Must be active and verified.
Ignoring the voucher details: The deductions affect your net proceeds.
Not tracking first payment date: Missed payments incur penalties.
💬 Real-Life Example
Scenario: Maria, an SSS member from Quezon City, applied for a 2-month salary loan. She received an email confirmation saying her loan was approved on August 20.
However, the funds were credited only on August 25. That same day, she received her Loan Voucher, showing ₱39,380 credited after deductions.
Her voucher also showed:
First payment due date: October 2025
Monthly amortization: ₱1,804 This document served as her official record for reference and repayment.
💼 Repayment Rules
Interest rate: 8% per annum (diminishing balance)
Late payment penalty: 1% per month
Amortization method: Salary deduction via employer or voluntary payment
Early repayment: Allowed anytime without penalty
Loan default: Amount may be deducted from future benefits or new loans
🔁 Loan Renewal Tip
You can renew your salary loan once you’ve paid at least 50% of the original principal and made at least 12 payments. Make sure to download your latest loan voucher before renewing — it helps SSS validate your payment record.
🧠 TL;DR – Summary
Topic
Key Details
Loan Confirmation
Appears before release; shows approval only.
Loan Voucher
Appears after release; shows deductions and credit.
Interest Rate
8% per annum on diminishing balance.
Loan Term
24 months (2-year loan).
Eligibility
36–72 contributions; active membership.
Disbursement
Bank or UMID-ATM within 3–5 days after approval.
In short:
Confirmation = “Approved.”
Voucher = “Released.” Check your Loan Voucher to confirm your money is credited and view your amortization schedule.
❓ FAQs: SSS Loan Voucher vs Loan Confirmation
1. Can I use the loan confirmation as proof of release? No. Only the loan voucher confirms that your loan has been credited.
2. How do I get my SSS loan voucher? Log in to your My.SSS account → Inquiry → Loan Info → Download Voucher.
3. Why don’t I see my voucher yet? Wait 2–3 working days after approval. It appears only once the loan is released.
4. What if my bank didn’t receive the credited amount? Check if your enrolled disbursement account is active. If the issue persists, contact SSS via the Disbursement Account Enrollment Module (DAEM).
5. Can I reapply for another loan while one is active? Only if you’ve paid at least 50% of your principal and 12 months of amortizations.
Final Thought
The SSS Loan Voucher and Loan Confirmation are closely linked but not interchangeable. Think of it this way:
“Confirmation means approval, but the voucher means cash on hand.”
Always check your voucher details before spending or planning repayments — it’s your proof, your record, and your guide to a smooth SSS loan experience.
