What’s the Difference Between an SSS Salary Loan Disclosure Statement and an SSS Salary Loan Voucher?
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What’s the Difference Between an SSS Salary Loan Disclosure Statement and an SSS Salary Loan Voucher?
If you’ve ever applied for an SSS Salary Loan, you’ve probably seen several documents — the Loan Disclosure Statement and the Loan Voucher. Many members get confused between the two because they look similar and are both part of the loan process.
But they serve different purposes. Knowing the difference can help you track your loan, understand your deductions, and avoid confusion when checking your SSS account or bank deposits.
💡 Quick Overview: Why This Matters
Just like understanding your credit card statement helps you manage spending, knowing your SSS Salary Loan documents helps you keep track of your loan and repayments.
If you’re planning to apply for an SSS Salary Loan or have already received one, this guide will help you know exactly:
What each document means,
When you’ll receive it, and
How to use it to verify your loan details.
🧾 What Is an SSS Salary Loan Disclosure Statement?
The SSS Salary Loan Disclosure Statement is a legal document that shows the full details of your approved loan — similar to how a credit card statement breaks down your monthly charges and payments.
It contains:
The total approved loan amount
The interest rate (currently 10% per annum)
Service fee (usually 1%)
Repayment schedule (how much you’ll pay monthly)
The total interest you’ll pay over time
Signature section confirming you understand and agree with the terms
🏦 Purpose:
This statement exists to protect the borrower. It ensures transparency under the Truth in Lending Act (RA 3765) — meaning the SSS must tell you the exact cost of your loan before you agree to it.
In short:
The Disclosure Statement = Full breakdown of how much your SSS loan really costs.
💰 What Is an SSS Salary Loan Voucher?
The SSS Salary Loan Voucher is a proof of release of your loan funds.
Once your loan is approved and credited to your bank account or UMID card, the Loan Voucher shows:
It’s similar to a receipt or proof of payment, confirming that the SSS has already transferred the money.
🧾 Example:
If your approved loan is ₱20,000 and your service fee is ₱200, your voucher will show a net amount of ₱19,800 — the amount actually credited to your account.
Even if they seem repetitive, both are important for your financial records:
Disclosure Statement helps you understand your total loan and repayment structure.
Loan Voucher confirms that you have already received the money.
When there’s a dispute (for example, you didn’t receive the correct amount or you’re unsure about deductions), both documents serve as your proof to clarify what happened.
💬 Real-Life Example
Scenario: Maria applied for a ₱25,000 SSS Salary Loan. She received her Loan Disclosure Statement, which stated:
1% service fee = ₱250
Net proceeds = ₱24,750
Monthly amortization = ₱2,193.75 for 12 months
A few days later, her Loan Voucher showed a credited amount of ₱24,750 via her UnionBank account.
✅ Both documents matched — confirming her loan details and fund release were accurate.
🔍 How to Access These Documents
You can easily view or download both in your My.SSS account:
If you want to understand how interest rates affect your total cost, you can use a free online tool like the Credit Card Cost Calculator.
Even though it’s designed for credit cards, you can use it to:
Compare interest rates and fees
Estimate total repayment
Plan better before applying for another loan
It’s especially useful if you have multiple financial obligations (like credit cards + SSS loans).
⚠️ Common Mistakes to Avoid
❌ Not reading the Disclosure Statement
You might miss important details like the total interest or repayment dates.
❌ Ignoring the Voucher
You should always check if the credited amount matches your expected net proceeds.
❌ Losing both documents
Keep soft copies or screenshots — they’re useful when you re-apply or check loan status later.
📘 TL;DR (Too Long; Didn’t Read)
Item
Disclosure Statement
Loan Voucher
Purpose
Shows all loan details
Confirms fund release
Issued When
Upon loan approval
After disbursement
Contains
Loan terms, rates, fees
Net proceeds, release date
Why Important
Transparency
Proof of payment
Pro Tip: Use the Credit Card Cost Calculator to check how interest adds up across different loans or credit cards.
❓ FAQs About SSS Loan Disclosure Statement vs Loan Voucher
1. Do all SSS loans have both documents?
Yes. Every loan type has a disclosure statement and a voucher for fund release.
2. Can I claim my loan without the voucher?
No. The voucher confirms that funds were already disbursed.
3. Are these documents emailed to me?
Not usually — you can download them through your My.SSS account.
4. What if the loan amount on the voucher doesn’t match the disclosure?
Check if the difference is due to service fees or advance interest. If not, contact SSS for verification.
5. Should I sign both documents?
You’ll sign the Disclosure Statement before approval. The Voucher is system-generated as proof of release.
🏁 Final Thoughts
Understanding your SSS Salary Loan Disclosure Statement and Loan Voucher is essential to managing your loan responsibly.
The Disclosure Statement is your agreement and breakdown.
The Loan Voucher is your proof that the money was released.
Together, they make your SSS borrowing experience more transparent and secure.
And if you’re planning to manage multiple loans or even get a credit card, don’t forget to try the Credit Card Cost Calculator to see how interests and fees affect your finances before applying.
