What Is an SSS Loan Statement? Complete Guide to Understanding Your SSS Salary Loan
If you’ve applied for an SSS Salary Loan, you’ve probably encountered documents like the Loan Statement, Statement of Account, or Loan Voucher. These may look similar — but each serves a specific purpose.
Understanding these documents helps you track your loan, verify deductions, and avoid penalties. In this guide, we’ll explain what the SSS Loan Statement is, how it works, and how you can use it to manage your loan effectively.
💡 What Is an SSS Loan Statement?
An SSS Loan Statement is an official record issued by the Social Security System (SSS) that summarizes your active or past loans, including:
The loan amount approved
The release date
The interest rate and deductions
The remaining balance
Your payment history
Any penalties or arrears
In short, it’s your proof of loan record — showing where your loan stands and what’s left to pay.
🧾 Common Terms You’ll See in Your Statement
Term
Meaning
Loan Voucher
Issued right after approval — shows the approved amount and deductions before release.
Disclosure Statement
Details how interest, service charge, and other fees were computed (required by law).
Statement of Account
Lists your payment schedule, amortization, and remaining balance — updated monthly.
These documents are all connected. The voucher shows what you’ll receive, the disclosure shows how it was computed, and the statement of account tracks your repayment.
🧍 Who Receives an SSS Loan Statement?
Every SSS member with an active salary loan gets a Loan Statement of Account (SOA).
This includes:
Employed members – Your employer remits monthly amortizations to SSS.
Voluntary or self-employed members – You pay directly through SSS branches or accredited payment centers.
OFWs (Overseas Filipino Workers) – You can pay via the SSS website or partner banks.
Before you can interpret your loan statement, it helps to understand how the SSS Salary Loan system functions.
🧮 Purpose of the SSS Salary Loan
The loan helps members with short-term financial needs such as:
Tuition or school expenses
Emergency medical bills
Home or family needs
🧾 How It’s Funded
Your loan amount depends on your contributions, specifically your Average Monthly Salary Credit (AMSC).
📋 SSS Salary Loan Eligibility
To qualify for an SSS Salary Loan, you must meet the following conditions:
Loan Type
Contributions Required
Employment/Status Requirement
1-Year Loan
At least 36 posted contributions, with 6 in the last 12 months
Must be currently employed or active member
2-Year Loan
At least 72 posted contributions, with 6 in the last 12 months
Must be currently employed or active member
You must also:
Have no existing overdue loan.
Be below 65 years old at the time of application.
Have your employer updated in SSS records.
💸 How Much Can You Borrow?
SSS bases your loan amount on your Average Monthly Salary Credit (AMSC):
Loan Type
Computation
Maximum Limit
1-Year Loan
1 × AMSC
₱25,000
2-Year Loan
2 × AMSC
₱50,000
Note: Even if your computed AMSC is high, SSS caps the maximum salary loan amount as shown above.
🧾 Example Computation
Let’s say your AMSC (average salary credit) is ₱15,000.
Loan Type
Computation
Loanable Amount
1-Year Loan
₱15,000 × 1 = ₱15,000
₱15,000
2-Year Loan
₱15,000 × 2 = ₱30,000
₱30,000
A 1% service fee is deducted upfront, so if your loan is ₱30,000, you’ll actually receive ₱29,700.
💡 How to Compute Your Monthly Amortization
Interest is 8% per annum, based on a diminishing principal balance.
For example:
Loan amount: ₱24,000
Interest: 8% per year
Term: 24 months
Monthly amortization is roughly ₱1,083.33, automatically deducted from your salary or paid voluntarily.
🔗 Try the SSS Salary Loan Calculator
To know your exact loan amount and monthly amortization, try this free tool: 👉 SSS Salary Loan Calculator
It automatically computes your loanable amount, interest, and take-home after deductions — based on your actual contribution record.
📑 Understanding the Deductions on Your SSS Loan Statement
When you receive your SSS Loan Voucher or Statement, you’ll see several items deducted before the release of your loan.
Deduction Type
Description
Service Charge (1%)
Automatically deducted from the approved amount.
Pro-rated Interest
Interest charged upfront between approval date and the next amortization cycle.
Outstanding Balance
If you had a previous loan, it may be deducted.
Penalty or Adjustment
For late payments or condonation interest if applicable.
🧮 Example of Pro-rated Interest
If your ₱20,000 loan is approved on March 12, 2025, SSS charges interest from March 12 to April 30 (50 days):
8% annual interest = ₱1,600/year
₱1,600 ÷ 365 days = ₱4.38/day
₱4.38 × 50 days = ₱219.18
✅ ₱219.18 is deducted upfront as pro-rated interest before you receive your loan.
🔁 How to Repay Your SSS Salary Loan
Employed members: Your employer automatically deducts and remits payments.
Self-employed/Voluntary members: You can pay through the SSS app, Bayad Center, GCash, or accredited payment partners.
OFWs: Use online SSS payment portals or bank partners abroad.
⏰ Late Payment Penalty
If payment is delayed, SSS charges 1% per month of the overdue amount.
💨 Early Repayment
You can pay off early anytime — no penalties for early settlement.
📉 Loan Default and Renewal
If you fail to pay your amortizations for more than 6 months, your loan becomes delinquent. SSS can then:
Deduct unpaid balances from future benefits (like maternity or retirement),
Or disqualify you temporarily from new loans.
You can renew your loan once you’ve paid at least 50% of your original balance and at least 12 months have passed since approval.
📤 Where to Find Your SSS Loan Statement
You can check or download your SSS Loan Statement through:
My.SSS Portal
Log in to your account.
Go to E-Services → Inquiry → Loans → Salary Loan.
View your Statement of Account (SOA).
SSS Mobile App
Log in, select “Loans,” then tap “Loan Info.”
Email Request or SSS Branch
Visit your nearest SSS branch or email via the SSS contact page.
🧾 TL;DR — Quick Summary
SSS Loan Statement shows your loan amount, deductions, payments, and balance.
Interest rate: 8% per year (diminishing).
Service charge: 1%.
Loan term: 12–24 months.
Eligibility: At least 36 or 72 contributions (depending on loan type).
Penalty: 1% per month if late.
Access: My.SSS portal, SSS app, or branch.
Tip: Always check your statement every month to make sure your employer remits your payments correctly.
❓Frequently Asked Questions (FAQ)
1. What is the difference between an SSS Loan Statement and a Loan Voucher?
The Loan Voucher shows your approved loan details and deductions before release. The Loan Statement (or Statement of Account) shows your ongoing payments and remaining balance.
2. How do I download my SSS Loan Statement?
Log in to My.SSS Portal → E-Services → Inquiry → Loans → Salary Loan, then select your active loan to view or download your Statement of Account.
3. What if my employer is not remitting my payments?
You should report it immediately to SSS. They will verify and require your employer to settle remittances. Your loan status will be updated once payment is posted.
4. Can I renew my SSS Salary Loan even if I have an existing balance?
Yes, as long as you have paid at least 50% of the principal and 12 months have passed since your last loan.
5. Is the SSS Loan Statement the same as the Disclosure Statement?
No. The Disclosure Statement is a legal document showing how your interest and fees were computed at approval, while the Loan Statement tracks your actual payments over time.
🏁 Final Thoughts
The SSS Loan Statement is more than just a document — it’s your financial record with SSS. It ensures you stay informed, prevent penalties, and manage your repayments confidently.
Whether you’re a first-time borrower or renewing your loan, always review your SSS Loan Statement to stay on track and make the most of your membership benefits.
