If you recently applied for an SSS Salary Loan, you might have received a loan voucher — but what exactly does it mean? Does it mean your loan is approved, released, or still processing? Many SSS members get confused when they see this document in their My.SSS account or email.
Let’s break it down clearly and simply, so you’ll understand every detail written on your SSS loan voucher, what each item means, and what to do next once you receive it.
💡 Understanding the SSS Salary Loan and Its Purpose
The SSS Salary Loan is a short-term cash assistance program offered by the Social Security System (SSS) to help members meet immediate financial needs — whether it’s for medical expenses, tuition, family emergencies, or even maternity-related costs.
Unlike other types of loans, your SSS contributions determine how much you can borrow. The loan is repaid through monthly deductions from your salary (if employed) or voluntary payments (if self-employed or OFW).
The loan voucher plays an important role — it’s the official document that confirms the approval and release details of your SSS Salary Loan.
🧾 What Is an SSS Loan Voucher?
An SSS Loan Voucher is a confirmation document issued by the Social Security System once your salary loan application is approved and credited.
It serves as your official proof that the SSS has processed your loan, showing:
The approved loan amount
The deductions made (like service charge and pro-rated interest)
The net amount credited to your bank account
The loan term, interest rate, and other important details
In short, the loan voucher = your approval notice and release receipt. If you received a voucher, your loan is already approved.
🧭 How to Find Your SSS Loan Voucher
Here’s how you can check or download your loan voucher:
Go to “E-Services” → “Inquiry” → “Loans” → “Salary Loan.”
Select your latest loan transaction.
Look for a button or link labeled “Loan Voucher.”
Click “Download” or “View” to open the PDF file.
The PDF shows all the financial details of your approved loan, including deductions and net proceeds.
📃 Breakdown: What You’ll See on the Loan Voucher
Let’s go over the typical sections and what they mean.
1. Loan Details
This section includes:
Loan Type: Salary Loan (1-month or 2-month)
Loan Amount Approved: The total amount granted before deductions
Date of Approval: The exact date SSS processed your loan
Interest Rate: 8% per annum based on diminishing balance
Loan Term: Usually 24 months (for 2-month loan) or 12 months (for 1-month loan)
2. Deductions
SSS automatically deducts several items before releasing your loan:
Service Charge (1%) – A small administrative fee
Pro-rated Interest – Interest covering the period between approval and first amortization
Outstanding Loan Balance (if any) – If you had a previous unpaid balance
💡 Example: If you were approved for ₱20,000, you’ll receive something like ₱19,780 after deducting fees and pro-rated interest.
3. Net Proceeds
This is the final amount deposited to your registered UMID-ATM or bank account. This is the cash you’ll actually receive and can use.
4. Amortization Schedule
It indicates:
Monthly deduction amount
First and last payment due dates
Penalty rate (1% per month if late)
5. Certification
A statement confirming that SSS has approved and released the loan.
🧮 How the SSS Computes Your Loan Amount
Your loanable amount depends on your Average Monthly Salary Credit (AMSC) — the average of your last 12 posted contributions.
Here’s how it works:
1-year loan: Up to 1 month of AMSC, max ₱25,000
2-year loan: Up to 2 times AMSC, max ₱50,000
Minimum loanable amount: ₱1,000 Interest: 8% per year (based on diminishing balance)
If you want to estimate how much you can borrow, try this tool: 👉 SSS Salary Loan Calculator It gives you an accurate idea of your possible loan amount, interest, and monthly amortization before applying.
🧩 Example: Reading an SSS Loan Voucher
Let’s say you applied for a 2-month salary loan.
Detail
Explanation
Approved Loan
₱20,000
Service Fee (1%)
₱200
Pro-rated Interest
₱219.18
Net Proceeds
₱19,580.82
Term
24 months
Interest
8% per annum
Monthly Amortization
₱904.16
First Payment
May 2025
Last Payment
April 2027
So, if your voucher shows these figures, your loan has already been released and your first payment starts the following month after the “interest-covered” period.
🕓 How Long Until the Loan Appears in Your Bank Account?
Once the loan voucher is generated, the crediting process usually takes 1–3 working days depending on your registered disbursement account (UMID or PESONet bank).
If your loan voucher already shows a release date, this means SSS has forwarded the payment to your bank — just wait for it to reflect.
✅ Tip: Always make sure your disbursement account is active and matched with your My.SSS profile to avoid delays.
📌 Common Questions About SSS Loan Vouchers
1. Does a loan voucher mean my loan is approved?
✅ Yes. Once the voucher appears, it means your loan has been approved and released. The amount indicated as “Net Proceeds” will be deposited to your registered bank account.
2. Why is my voucher amount smaller than my approved loan?
That’s because of deductions:
1% service charge
Pro-rated interest (based on the date of approval)
Any previous loan balance
3. What if I can’t find my voucher in My.SSS?
It may still be under processing or your application wasn’t fully submitted. Check your Email Notifications and Loan Application History under “E-Services.”
4. Can I reapply for a new loan if I already have a voucher?
You can reapply only if:
At least 50% of your loan has been paid, and
Your previous loan is not delinquent.
5. How do I know if my employer already certified my loan?
If the voucher is visible, it means SSS received the employer certification and your loan was approved.
⚖️ Interest, Deductions, and Payment Explained
📉 Pro-Rated Interest (Before Release)
SSS deducts a small “advance” interest for the period between your loan approval date and the start of your first amortization. Example: ₱20,000 × 8% ÷ 365 × 50 days = ₱219.18
💸 Monthly Amortization
Starts the second month after release
Automatically deducted from your employer’s remittance
Penalty of 1% per month if unpaid
💰 Early Payment
You can pay early or in full anytime — no penalty, and it reduces your total interest.
👩🍼 Can You Apply for an SSS Salary Loan During Maternity Leave?
Yes, as long as:
You’re still an active SSS member
You meet the required posted contributions
You’re not currently delinquent on any loan
Even if you’re on maternity leave, the salary loan is allowed — it can help cover extra costs after childbirth while waiting for your SSS Maternity Benefit to be released.
💬 Real-Life Example
“I applied for my salary loan on March 8 and saw my loan voucher on March 12. The release date was March 13, and I received the money in my UnionBank account the next morning.”
That’s how the SSS process typically goes — quick and digital. Your voucher acts as the receipt and confirmation that your loan is already on its way.
⚠️ Common Problems and Fixes
Issue
Possible Cause
What to Do
Voucher not showing
Application not yet processed
Wait 1–3 days or check with employer
Voucher shows “Released” but no credit
Bank delay
Verify your registered disbursement account
Wrong amount released
Deduction for old balance or pro-rated interest
Check voucher details
Can’t open voucher
Browser issue
Try desktop or download via mobile PDF viewer
🧠 Quick TL;DR Summary
The loan voucher = proof of approval and release.
It includes loan amount, deductions, and net proceeds.
Your money is usually credited within 1–3 working days.
You can apply again after paying 50% of your current loan.
It confirms that your loan is approved and credited. It also details the deductions and net cash released.
2. Can I use the voucher to claim my loan manually?
No. It’s for record and reference only. The loan is deposited automatically.
3. What if the amount in my bank is lower than the voucher’s net proceeds?
It could be due to bank fees or timing differences. Wait a full business day before reporting to SSS.
4. How long does it take to appear in my account?
Usually 1–3 working days after the voucher is generated.
5. What happens if I lose my loan voucher?
You can download it again anytime from your My.SSS account under Loan Details.
✍️ Final Thoughts
The SSS Loan Voucher is more than just a piece of paper — it’s your proof of trust from the SSS. It tells you that your loan has been approved, calculated, and released properly.
Always read your voucher carefully, understand the deductions, and plan your payments ahead.
If you’re planning to apply again in the future, use the SSS Salary Loan Calculator to see how much you can borrow next time.
