What’s the Difference Between an SSS Loan Statement, Loan Voucher, and Disclosure Statement?
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What’s the Difference Between an SSS Loan Statement, Loan Voucher, and Disclosure Statement?
Understanding Your SSS Salary Loan Documents — Simplified for Every Member
Have you ever checked your SSS online account or received an SSS Salary Loan email and got confused by the different documents — Loan Statement, Loan Voucher, Disclosure Statement? You’re not alone.
Many members wonder: “Pare-pareho lang ba ‘yan?” or “Alin ang kailangan ko para malaman ang babayaran ko?”
In this guide, we’ll break down the differences, explain how each document works, and help you manage your SSS Salary Loan like a pro — whether you’re applying for the first time or checking your remaining balance.
💡 What Is the SSS Salary Loan?
The SSS Salary Loan is a short-term cash loan granted to currently employed, self-employed, or voluntary SSS members. It’s designed to provide financial relief — especially for urgent needs like school fees, hospital bills, maternity costs, or home expenses.
Here’s the gist:
Interest rate: 8% per annum (based on diminishing principal balance)
Loan term: 12 or 24 months
Service charge: 1% deducted upon release
Loan amount: Based on your Average Monthly Salary Credit (AMSC)
📄 The Three Main Documents You’ll See in an SSS Salary Loan
When your loan is processed and approved, you’ll encounter three main documents. Each serves a unique purpose, and knowing how to read them will help you avoid confusion or late payments.
🧾 1. SSS Loan Statement (a.k.a. Loan Statement of Account)
Purpose: The SSS Loan Statement — sometimes called Statement of Account (SOA) — shows your loan balance, amortization schedule, and payment history.
What it contains:
Your loan amount and date of release
Monthly amortization due
Remaining balance
Total payments made
Any penalties or accrued interest
When to use it: If you want to know magkano pa ang utang mo sa SSS or check if your employer remitted your loan deductions properly, this is the document you’ll check.
Example scenario:
Maria borrowed ₱20,000. Her employer deducts ₱900 every month. When she checks her SSS online account, her Loan Statement shows 5 months paid and 19 months remaining — that’s her Loan Statement of Account.
Tip: Always review this every few months, especially if you recently changed jobs. It ensures that your amortizations are posted correctly.
💰 2. SSS Loan Voucher
Purpose: This is your proof of loan release — showing how much SSS actually credited to your bank account or through check.
What it contains:
Approved loan amount
Deductions (service charge and pro-rated interest)
Net amount released
Date and mode of release
Example scenario:
You applied for a ₱20,000 loan. The SSS deducted ₱200 for service charge (1%) and ₱219.18 for pro-rated interest (computed based on approval date). You’ll receive ₱19,580.82 in your bank.
That breakdown is exactly what appears in your SSS Loan Voucher.
Why it matters: It helps you verify that the credited amount is correct and understand the deductions applied before your loan funds were released.
📃 3. SSS Salary Loan Disclosure Statement
Purpose: This is the official summary of your loan terms and conditions, similar to what banks provide when you take a loan. It ensures transparency, showing exactly how your loan cost is computed.
What it contains:
Principal amount
Annual interest rate (8%)
Term (12 or 24 months)
Service charge (1%)
Total interest for the whole loan term
Schedule of monthly amortizations
Penalty for late payments (1% per month)
Your rights and obligations under the SSS loan policy
Why it matters: It’s your “legal copy” of the loan agreement. If you ever dispute an amount, penalty, or interest, the Disclosure Statement is your reference.
⚖️ Summary Table: Key Differences
Document
Purpose
What It Shows
When You Need It
Loan Statement / SOA
Tracking
Remaining balance, payments, amortization
During repayment or loan renewal
Loan Voucher
Release
Amount received, deductions, release date
When loan is approved and credited
Disclosure Statement
Legal terms
Interest rate, payment schedule, penalties
Upon approval (for record-keeping)
🧮 How the SSS Salary Loan Is Computed
Let’s walk through an example using the same rules followed by SSS.
Step 1. Determine your Average Monthly Salary Credit (AMSC)
SSS bases your loanable amount on the average of your latest 12 posted salary credits.
Contribution Type
Loanable Amount
1-year loan
1 × AMSC (max ₱25,000)
2-year loan
2 × AMSC (max ₱50,000)
Step 2. Apply the Service Charge
1% of the approved amount is deducted automatically.
Step 3. Compute the Pro-rated Interest
Interest is charged upfront for the period between approval date and the end of the following month.
Example:
Loan approved on March 12, 2025 for ₱20,000. Interest rate: 8% per year
Count days covered: March (20 days) + April (30 days) = 50 days
Annual interest: ₱20,000 × 8% = ₱1,600
Daily interest: ₱1,600 ÷ 365 = ₱4.38
Multiply by 50 days = ₱219.18
✅ ₱219.18 will be deducted upfront from your loan.
Step 4. Calculate Monthly Amortization
For a 24-month term, your monthly payment is based on diminishing balance, meaning interest decreases over time while the principal portion increases.
6 contributions within the last 12 months before filing
Currently employed or self-employed
No existing overdue loan
For a 2-Year Loan
At least 72 posted contributions
6 contributions within the last 12 months
Active member with updated status
Even if you’re on maternity leave, you can still apply as long as your employer continues to remit your contributions.
🧾 Payment, Renewal, and Penalties
💸 Payment Method
Your employer automatically deducts your amortization every payday and remits it to SSS.
⏰ Late Payment
A 1% monthly penalty applies on unpaid amortizations.
🔁 Loan Renewal
You may renew your loan once you’ve paid at least 50% of the term and balance. However, if you benefited from any penalty condonation within the last 5 years, your renewal interest rate will be 10% per annum.
🧮 Early Payment
You can pay in full anytime without penalties, which can help you save on interest.
⚠️ What Happens If You Default?
If you fail to pay your SSS loan:
SSS will deduct the balance from future benefits (maternity, sickness, or retirement).
You won’t be allowed to apply for another salary loan until it’s fully settled.
Interest and penalties will continue to accrue.
🩺 TL;DR — Quick Summary
If you’re applying for or managing an SSS Salary Loan, here’s what you need to remember:
Loan Statement → Track your payments and remaining balance.
Loan Voucher → See your actual take-home amount after deductions.
Disclosure Statement → Understand your total loan cost and terms.
Interest is 8% per annum, plus 1% service charge deducted upfront.
You must have 36 or 72 posted contributions (depending on loan type).
You can use the SSS Salary Loan Calculator to check your estimated amortization.
Tip: Keep copies of all three documents. They protect you from errors in posting or remittance delays.
❓FAQs About SSS Salary Loan Documents
1. Is the SSS Loan Statement and Loan Voucher the same?
No. The Loan Statement tracks your payments, while the Loan Voucher only shows your loan release details.
2. When do I receive the SSS Loan Disclosure Statement?
You receive it once your loan is approved — it’s available in your SSS online account under “Disbursement” or sent via email.
3. Can I request another copy of my SSS Loan Voucher?
Yes. Log in to your My.SSS account, go to “E-Services → Inquiry → Loans,” and click your approved loan reference number.
4. What should I do if my employer hasn’t remitted my payments?
Report it to SSS immediately. You can show your Loan Statement as proof of missing postings.
5. Can I apply for a new loan while on maternity leave?
Yes — as long as you meet the eligibility criteria and your employer continues paying your contributions.
✨ Final Thoughts
Understanding your SSS Salary Loan documents doesn’t have to be complicated. Each paper — the Loan Statement, Loan Voucher, and Disclosure Statement — plays an important role in helping you track, verify, and understand your loan.
If you’re planning to apply soon, or just want to double-check your payments, don’t forget to try the SSS Salary Loan Calculator for quick estimates.
Remember: Being informed is the best way to protect your benefits and manage your finances responsibly. 💙
