What Information Can I Find on an SSS Loan Voucher?
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What Information Can I Find on an SSS Loan Voucher?
When you apply for an SSS Salary Loan, one of the most important documents you’ll receive after approval is the SSS Loan Voucher. This small but vital document holds everything you need to know about your loan — from how much was approved to what will be deducted before you get your money.
If you’re a first-time borrower or just curious about how the SSS loan process works, this guide will help you understand every detail printed on your SSS loan voucher, why it matters, and how to use it to plan your finances wisely.
💡 What Is an SSS Loan Voucher?
An SSS loan voucher is an official document issued by the Social Security System (SSS) to confirm that your loan has been approved, processed, and released. It serves as your receipt and reference record, showing how the loan amount was computed and the net amount you’ll actually receive in your bank account or e-wallet (like UMID-ATM, PESONet, or GCash).
In short, it’s the breakdown of your SSS Salary Loan release — explaining where every peso goes before you even get the money.
🧾 Why the Loan Voucher Is Important
Many members ignore the details in their SSS loan voucher, thinking it’s just a receipt. But this paper is your key to verifying your loan accuracy.
Here’s why it’s important:
✅ It confirms the exact approved loan amount.
✅ It shows all deductions, including service charge and pro-rated interest.
✅ It lists dates of approval and loan release — useful for checking when amortization starts.
✅ It helps you verify correct interest rate (8%) and loan term (12 or 24 months).
✅ It serves as proof in case of loan discrepancies or payment disputes.
🧠 Quick Review: How SSS Salary Loan Works
Before we break down the voucher details, let’s quickly recall how the SSS Salary Loan system works.
The SSS Salary Loan is designed to help employed, self-employed, or voluntary members access short-term financial assistance. It is based on your Average Monthly Salary Credit (AMSC) and how long you’ve been contributing to SSS.
Type of Loan
Minimum Contributions
Loanable Amount
Loan Term
1-Year Loan
36 total (6 in last 12 months)
1× AMSC or up to ₱25,000
12 months
2-Year Loan
72 total (6 in last 12 months)
2× AMSC or up to ₱50,000
24 months
Interest is 8% per annum (based on diminishing balance), and a 1% service charge is deducted upfront.
🧮 How the Voucher Reflects Your Loan Computation
The loan voucher summarizes every step of the loan computation. Let’s decode the key information you’ll find:
1. Approved Loan Amount
This is the gross amount SSS approved based on your contribution history and AMSC. Example: ₱20,000 (2-year loan with ₱10,000 AMSC).
2. Service Charge (1%)
A ₱200 deduction (₱20,000 × 1%) is automatically taken before release. This covers administrative costs for processing.
3. Pro-Rated Interest Deduction
This often surprises borrowers. SSS deducts an advance interest to cover the period from approval date to the end of the following month.
For example:
Detail
Amount / Explanation
Approved loan
₱20,000
Interest rate
8% per year
Coverage days
50 days (March 12–April 30)
Daily interest
₱1,600 ÷ 365 = ₱4.38/day
Pro-rated interest
₱4.38 × 50 = ₱219.18
👉 ₱219.18 will be deducted upfront from your loan proceeds. This ensures fairness since you’re charged only for the pre-amortization period.
4. Net Proceeds
The actual amount credited to your account after all deductions. Using our example: ₱20,000 − ₱200 (service charge) − ₱219.18 (interest) = ₱19,580.82.
5. Loan Term and Amortization Start Date
The voucher clearly states when your monthly payments will start. Usually, the first deduction happens two months after release.
6. Employer and Bank Details
For employed members, the voucher lists the employer ID (responsible for salary deductions). For self-employed or voluntary members, it shows the disbursement channel (e.g., PESONet bank or UMID-ATM).
7. Transaction Reference and Approval Date
This acts as your official record for tracking or disputes. Always save a copy digitally.
💻 How to Check Your Voucher Online
You can easily download or view your voucher using your My.SSS online account:
This is also the same page where you’ll find your loan balance, amortization schedule, and payment history.
🧮 Estimate Your Loan with the SSS Salary Loan Calculator
Before you even apply, you can estimate your possible loan amount using the 👉 SSS Salary Loan Calculator.
It helps you:
Check if you qualify for a 1-year or 2-year loan.
Estimate your monthly amortization and take-home proceeds after deductions.
Understand how pro-rated interest affects your released amount.
Try it before applying to avoid surprises when you receive your loan voucher.
📅 Repayment Rules and Penalties (Shown on Voucher or Policy)
Your voucher will also include (or reference) the official repayment terms:
Term
Description
Interest Rate
8% per annum (diminishing balance)
Penalty
1% per month on overdue amortization
Loan Renewal
Allowed after paying at least 50% of the original principal
Early Repayment
No penalty for advance or full payment
Default Rule
Unpaid loans are deducted from future SSS benefits
⚖️ Understanding Loan Renewal and Balance Carry-Over
If you plan to renew your salary loan later, the voucher will also help you check:
How much principal has been paid.
If there’s a remaining balance or penalty.
Whether your loan is eligible for renewal (at least 50% repaid).
Always keep your voucher because it shows the previous approval date, which SSS uses for renewal validation.
⚠️ Common Mistakes Borrowers Make with Their Loan Voucher
Here are typical mistakes many borrowers make — and how to avoid them:
Mistake
What Happens
How to Avoid
Ignoring deductions
You expect the full approved amount but receive less.
Check all deductions on the voucher.
Losing your voucher
You can’t verify details during renewal or disputes.
Download and save a PDF copy.
Misunderstanding amortization start date
Late payments or confusion about first due date.
Always note the “First Amortization Month.”
Overlooking pro-rated interest
You think SSS deducted too much.
Understand that it covers pre-amortization interest fairly.
💬 Real-Life Example: “Why Is My Loan Release Shorter Than Expected?”
Let’s say Maria applied for an SSS salary loan of ₱30,000. She was surprised that only ₱29,530 appeared in her account.
Here’s how her voucher explained it:
Description
Amount
Approved Loan
₱30,000
Less: 1% Service Charge
₱300
Less: Pro-rated Interest (approx.)
₱170
Net Amount Released
₱29,530
Because Maria checked her voucher, she realized the deductions were accurate — avoiding unnecessary complaints or confusion.
📘 TL;DR — Quick Summary
If you’re wondering what you’ll find in your SSS Loan Voucher, here’s a quick summary:
Key Detail
What It Means
Approved Loan Amount
Total amount SSS approved based on AMSC
Service Charge (1%)
Admin fee deducted upfront
Pro-Rated Interest
Advance interest from approval to next month
Net Proceeds
Actual amount credited to your account
Loan Term & Start Date
When your monthly payments begin
Employer/Bank Info
Disbursement and deduction details
Reference & Approval Date
Official proof for your records
Who can apply? Any active SSS member with at least 36 contributions (for 1-year loan) or 72 contributions (for 2-year loan), and 6 contributions in the last 12 months.
Even if you’re on maternity leave, you can still apply as long as you meet the eligibility and your employer certifies the loan online.
❓ Frequently Asked Questions (FAQs)
1. What is the SSS loan voucher for?
It’s a record showing your approved loan amount, deductions, and release details. It acts as proof of your SSS salary loan transaction.
2. How do I download my SSS loan voucher?
Log in to your My.SSS account → Inquiry → Loans Info → Salary Loan → View Voucher.
3. Why is my released amount smaller than the approved loan?
Because SSS deducts a 1% service charge and pro-rated interest before release.
4. Can I still apply for a salary loan while on maternity leave?
Yes, if your employer certifies your loan and your contributions are updated.
5. What happens if I miss a payment?
SSS charges a 1% monthly penalty on missed amortizations and may deduct unpaid loans from future benefits.
🏁 Final Thoughts
Your SSS Loan Voucher isn’t just paperwork — it’s your financial guide. It shows exactly how your loan was computed, when to start paying, and how much you truly received.
By understanding your voucher, you’ll avoid confusion, plan better, and stay in full control of your SSS loan.
✅ Summary: The SSS Loan Voucher is your transparent breakdown of loan details — showing the approved amount, deductions, and release info. It ensures you understand exactly how SSS computed your salary loan and helps you manage your repayments responsibly.
