Update on SSS Loan Interest Rates for Salary & Calamity Loans
SSS LOAN INTEREST RATES – Philippine Pres. Bongbong Marcos announced the lowering of the interest rates for the salary and calamity loans starting July 2025.
One of the giants in terms of social insurance in the Philippines is the SSS or the Social Security System. Millions of Filipinos are members of the state-run social insurance institution as most companies and offices in the private sector require an SSS membership among its workers.
Many Overseas Filipino Workers (OFWs) are also members of the Social Security System. It has several loan offers including the SSS Salary Loan, the SSS Housing Loan, and the SSS Calamity Loan.
Each of the loan offers of the Social Security System got a unique purpose as well as a unique list of eligibility criteria, documentary requirements, and details such as loanable amounts, loan term, interest rates, and fees and charges.
Undeniably, one of the wise moves before apply for any loan offer is to check on the SSS loan interest rates. It can help you decide whether the loan is affordable for your or not as it will give you a glimpse of how much will be added as interest to the amount you borrowed.
Meanwhile, the SSS loan interest rates are among the lowest in the market. In fact, recently, Pres. Bongbong Marcos announced a good news with regards to the matter.
Based on a report on Inquirer, Pres. Bongbong Marcos announced that there will be lower SSS loan interest rates for the salary loans and the calamity loans starting July 2025. Previously, the state-run social insurance giant implements a 10% interest rate on its loan offers.
According to Pres. Marcos, the interest rate for the salary loans will be reduced to 8% beginning July 2025. For the calamity loans, based on the report, it will be even lower at 7%. There are only a few qualifications in applying for the loans and you can check the individual offer for more details.
The SSS Salary Loan is a multi-purpose loan that was meant to help in various financial needs of the member. The loan is payable for up to 24 months. To qualify for the SSS Salary Loan, here are the qualifications that the member-borrower must meet:
- must have posted at least 36 monthly contributions in the SSS account
- 65 years old and below at the time of the loan application
- employer must be updated in the payment of the SSS contributions
- has not received any final benefit from the SSS
- has not been disqualified due to fraud committed against the SSS
The SSS Calamity Loan, as its name suggests, was crafted to help members living in calamity-stricken areas recover from the impact of natural disaster. Here are the eligibility requirements to qualify for the loan offer:
- registered in the SSS Website (My.SSS facility) to facilitate filing of online application
- have not been granted any final benefit
- with thirty-six (36) monthly contributions and above, six (6) of which should be posted within the last twelve (12) months prior to the month of filing of application
- with at least six (6) posted monthly contributions under the current coverage/membership type prior to the month of loan application for Self-Employed, Voluntary (including Non-Working Spouse), and Overseas Filipino Worker (SE/VM/OFW) members who are land based
- residents of the calamity declared areas and suffered damages/loss to their properties. A resident, for the purpose of CLAP, is one who has a home address or property at the calamity-stricken area
- without any past due SSS Short-Term Member Loans
- with no outstanding Loan Restructuring Program (LRP) or Calamity Loan Assistance Program (CLAP)
With regards to the SSS Housing Loan offer, it is extremely unique compared with the Pag-IBIG Housing Loan and several other home loan offers out there.