Guide on How Much You May Borrow under the SSS Cash Loan Offer
BORROW SSS CASH LOAN – Here is a guide on how much you may get on your first salary loan to the Social Security System.
Are you a member of the Social Security System? More commonly called SSS, it is a state-run social insurance institution with a lot of offers for its members. It has millions of members across the nation who are coming from different walks of life – employed, self-employed, and overseas Filipino workers (OFWs).
One of the loans that you may turn to as an SSS member is the Salary Loan. How much you may borrow under this SSS Cash Loan offer? It actually depends on your total posted monthly savings.
To qualify, the member-borrower must have posted at least 36 monthly savings. If you have between 36 to 71 total monthly contributions posted on your account, the maximum amount that you may borrow under the SSS Cash Loan is equivalent to your one-month basic salary.
If you have posted more than 72 total monthly contributions, your maximum loanable amount “is equivalent to twice the average of the member-borrower’s latest posted 12 MSCs, rounded to the next higher monthly salary credit, or amount applied for, whichever is lower”.
Are you the one who will process your loan application to SSS? The following documents will be needed for submission:
- duly-accomplished Member Loan Application Form
- SSS digitized ID or E-6 with any two (2) valid IDs (one of which with a recent photo)
- Postal IDBaptismal CertificateTax Identification Number (TIN) CardSenior Citizens CardSchool IDProfessional Regulation Commission (PRC) IDLTO Driver’s LicenseCredit CardHealth or Medical CardGSIS CardSeaman’s BookCompany IDVoter’s Identification card/affidavit/Certificate of RegistrationATM card with cardholder’s name or with certification from bankNBI ClearanceTranscript of RecordsCertificate from:
- Office of Muslim AffairsLife Insurance PolicyOffice of Southern/Northern Cultural CommunitiesBirth/Baptismal certificate of child/renCertificate of Licensure/Qualification Documents/Seafarer’s ID and Record Book from Maritime IndustryCertificate of Naturalization from the Bureau of Immigration
- Overseas Worker Welfare Administration card
- Police Clearance
- Marriage Contract
- Postal IDBaptismal CertificateTax Identification Number (TIN) CardSenior Citizens CardSchool IDProfessional Regulation Commission (PRC) IDLTO Driver’s LicenseCredit CardHealth or Medical CardGSIS CardSeaman’s BookCompany IDVoter’s Identification card/affidavit/Certificate of RegistrationATM card with cardholder’s name or with certification from bankNBI ClearanceTranscript of RecordsCertificate from:
You might also have your loan application processed by an authorized representative or a representative of your company. Here are the documents that you must submit to SSS if that’s the case:
| If your loan application is processed by an authorized representative: | If your loan application will be processed by an authorized representative of your company or employer: |
| duly-accomplished Member Loan Application Form | duly-accomplished Member Loan Application Form |
| Letter of Authority (LOA) from employer | two (2) valid IDs both with signature and at least one with photo |
| SSS-issued Authorized Company Representative (ACR) card | Letter of Authority (LOA) from employer |
| Member-borrower’s SS card or Application for SS card (SS Form E-6) acknowledgment stub and two (2) valid IDs | Member-borrower’s SS card or Application for SS card (SS Form E-6) acknowledgment stub and two (2) valid IDs |
| two (2) valid IDs both with signature and at least one with photo |
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