What’s the Difference Between “SSS Loan Statement” and “SSS Loan Summary”?
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What’s the Difference Between “SSS Loan Statement” and “SSS Loan Summary”?
Have you ever opened your SSS online account and got confused seeing both “Loan Statement” and “Loan Summary”? 🤔 Don’t worry — you’re not alone! Many members ask the same question: Are they the same thing? Or is one more important than the other?
In this friendly guide, let’s break down what each term means, what you’ll actually see inside them, and how to use both to manage your SSS Salary Loan more confidently.
💡 Quick Recap: What’s an SSS Salary Loan?
Before diving into the difference, let’s refresh a bit on what the SSS Salary Loan is.
The SSS Salary Loan is a short-term cash loan offered to employed, self-employed, and voluntary members. It’s designed to give you quick financial help for emergencies, tuition, or even small business needs — as long as you’re actively paying your SSS contributions.
Here’s the basic idea:
Loan Type
Required Contributions
Maximum Amount
Loan Term
1-month Salary Loan
36 posted contributions (6 within last 12 months)
1 month of your AMSC or up to ₱25,000
12 months
2-month Salary Loan
72 posted contributions (6 within last 12 months)
2 months of your AMSC or up to ₱50,000
24 months
🪙 Interest rate: 8% per year (on diminishing balance) 💼 Service fee: 1% deducted upon release ⚠️ Late payment penalty: 1% per month
If you want to see how much you could borrow, try the SSS Salary Loan Calculator — it shows a simple estimate based on your contributions.
🧾 What Is an “SSS Loan Statement”?
Your SSS Loan Statement (or sometimes called Statement of Account) is a detailed breakdown of your current or past SSS loan. It shows every detail related to your loan transaction.
What You’ll See in Your Loan Statement:
Loan number and approval date
Original amount released
Service fee and pro-rated interest deducted
Monthly amortization amount
Due dates of each payment
How much you’ve already paid
Outstanding balance
Penalties (if applicable)
It’s basically the complete record — like your credit card statement or utility bill. It helps you check where your payments go and how much you still owe.
✅ Best for: Tracking your exact loan balance, payment dates, and verifying if your employer remitted your loan payments on time.
📋 What Is an “SSS Loan Summary”?
The SSS Loan Summary, on the other hand, is the overview page or snapshot of your loan history. It’s the first thing you’ll usually see when you click “Loans” in your SSS online or mobile app account.
What You’ll See in Your Loan Summary:
List of all your loans (Salary Loan, Calamity Loan, etc.)
Date filed and approved
Status (Active, Paid, Condoned, or Cancelled)
Outstanding balance (if any)
Last payment date
It’s like a “dashboard” view — short, simple, and useful if you just want to check whether your loan is still active or already paid.
✅ Best for: Quick viewing of your overall loan status without going into the full breakdown.
🔍 SSS Loan Statement vs. Loan Summary: Key Differences
Feature
Loan Statement
Loan Summary
Purpose
Detailed record of one specific loan
Overview of all loans you’ve taken
Shows Payment Details?
✅ Yes (each payment and amortization)
❌ No
Shows Penalties and Interest?
✅ Yes
❌ No
Best For
Checking balance accuracy and payment history
Quick status check
Where to Find It
Under “Loan Info” → “Loan Statement”
Under “Loan Info” → “Loan Summary”
Printable?
✅ Yes, can be printed as proof
✅ Yes, but limited details
In short:
The Loan Summary gives you the “what,” while the Loan Statement shows you the “how.”
🧠 Example: Why You Might Need Both
Let’s say you applied for a ₱30,000 salary loan and have been paying it for a year. You open your SSS app and see this under Loan Summary:
“Outstanding Balance: ₱14,500. Status: Active.”
That’s helpful — but if you want to check how that ₱14,500 balance came about (for example, how many payments your employer already posted), you’ll need to open the Loan Statement.
Inside, you’ll see:
12 payments of ₱1,500 each
1 delayed posting
₱45 interest accrued Now, everything makes sense. You can see exactly where your money went.
⚙️ How to Check Your Loan Summary and Statement Online
Then, click on a specific loan to open the Loan Statement
Option 2: Through the SSS Mobile App
Log in to your app
Tap “Loans” → “Loan Info”
You’ll first see your loan summary
Tap the loan entry to open your detailed statement
📱 Pro tip: Always screenshot or save your statements — it’s your best proof in case of unposted payments.
💰 Understanding How SSS Computes Your Loan
To make sense of your statement, here’s how SSS calculates your salary loan:
Computation Item
Explanation
Loan Basis
Average of last 12 months of Monthly Salary Credit (AMSC)
Interest
8% per year on diminishing balance
Service Charge
1% of approved loan, deducted upfront
Loan Term
12 or 24 months
Late Penalty
1% per month on unpaid amortization
Pro-rated Interest
Deducted upfront for approval-to-start date gap
🧮 Example: If your ₱20,000 loan is approved on March 12, SSS charges pro-rated interest from March 12 to April 30 (50 days). At 8% annual rate, that’s around ₱219 upfront deduction before your first payment in May.
1. Is the SSS Loan Statement the same as the Statement of Account? ✅ Yes, they refer to the same detailed document showing your loan payment history.
2. Can I print my Loan Summary or Statement? Yes. You can print both from your online account or save them as a PDF.
3. What if my employer didn’t remit my loan payment? Your Loan Statement will show missing months. You can file a report at any SSS branch.
4. Why do I still see a balance even after paying all my dues? It could be due to delayed posting or small penalties. Always check your full statement to confirm.
5. Do I need to settle old loans before applying for a new one? Yes. You must fully pay your existing salary loan before renewing.
❤️ Final Thoughts
Your Loan Summary and Loan Statement are like your SSS financial compass — one gives the map, and the other gives the details. By checking both regularly, you’ll always know where your loan stands, how much you’ve paid, and what’s left.
So, next time you log in to your SSS account, don’t just stop at the summary — dive into your statement, too. It’s your best way to stay informed and in control of your finances.
