Guide on SSS Cash Loan Interest Rate 2025 & Other Important Details
SSS CASH LOAN INTEREST RATE 2025 – Here is a guide on the important information that members of the Social Security System should know.
In the Philippines, one of the social insurance entities that people can turn to for a multi-purpose loan is the Social Security System. More popularly called SSS, it has several loan offers for its members.
The Social Security System is operating in the Philippines for decades already since the 1970s. Filipinos who are working in the private companies are mandated to maintain an active membership to the social insurance institution by posting monthly contributions.
The SSS membership is also open for self-employed individuals, household helpers, overseas Filipino workers, and non-working spouses of SSS members. It got not only loans but as well as different SSS benefits designed to help the members in times of different needs.
With regards to the loan offers of the Social Security System, one of them is the SSS Salary Loan or also called the cash loan offer of the social insurance giant. It is a multi-purpose loan that you can use in making personal purchases, financing a car repair, hosting a party, traveling, etc.
The loanable amount under the SSS cash loan offer depends on the basis set by the social insurance giant. The borrowed amount is payable for up to 24 monthly installments.
With regards to the SSS cash loan interest rate, according to the social insurance giant, the interest rate remains at 10% per annum until the loan is fully paid. The “pro-rated interest from the date of loan granting up to the end of the month prior to first amortization month shall be deducted in advance from the loan proceeds”.
The SSS cash loan interest rate is implemented on a diminishing principal balance. According to the SSS, in case of an excess on the monthly amortization payment, it will be directly applied to the principal balance.
In applying for the loan offer, the requirements depend if the loan application will be filed by the member himself/herself, an authorized representative, or the employer of the member. Here’s a guide on the SSS requirements: