What the SSS Salary Loan Covers
The SSS salary loan is a short-term cash loan for members with enough posted contributions. The amount you can borrow is tied to your Monthly Salary Credit (MSC), not your last payslip alone.
One-Month vs Two-Month Loan
- A one-month loan is commonly capped at your rounded average MSC and often needs around 36 posted contributions.
- A two-month loan doubles that cap and typically needs around 72 posted contributions.
SSS averages recent MSC values and rounds up to the next ₱500 step (within the ₱5,000 to ₱35,000 range under the current schedule).
Interest, Term, and Fees
Salary loans are commonly payable over 24 months on a diminishing balance. Published rates have included 8% per annum for standard cases, with a higher rate in certain penalty-condonation scenarios.
A service fee (often 1% of the principal) is deducted from proceeds, and SSS may also withhold pro-rated interest at release, so the cash you receive can be lower than the headline loan amount.
Estimate Before You Apply
Use the SSS Salary Loan Calculator to model the cap, monthly amortization, and net proceeds. If you are weighing the loan against your budget, run the numbers through the Loan Affordability Calculator too.
Why Your Estimate May Differ From My.SSS
- SSS uses your actual contribution history and final averaging.
- Eligibility depends on recency and number of posted contributions.
- Policy updates can change caps, rates, and deductions.
Disclaimer
This is general education. Borrowing limits, eligibility, rates, and deductions are determined by SSS. Log in to My.SSS for authoritative figures before applying.