Is Your SSS Salary Loan Rejected? These Might Be The Reasons Why. Check This Out!


If you are a member of the Social Security System (SSS), you probably know that you are entitled to applying for a salary loan or short-term credit needs. This is a privilege is granted to an employed, currently- paying self-employed or voluntary member. Compared to bank loans or lending institutions, the interest rate and service fee are lower.

According to the official website of SSS, if a member wishes for a one-month loan, he or she must have 36 posted monthly contributions and 6 of which should be within the last 12 months prior to the month of filing the loan application.

If the member-borrower want to apply for a two-month loan, he or she must have 72 posted monthly contributions and 6 of which should be within the last 12 months earlier to the month of filing the application.

However, not all loan are always approved. In fact, there are many applications that were rejected. This article might be a help for you in case you are planning to apply for a salary loan in SSS.

1. Failed to meet the required minimum contributions.

As mentioned above, a member-borrower must have 36 or 72 posted monthly contributions. Be sure to ask your company HR about your SSS contribution to know if all are posted.

2. Your SSS number is temporary.

Your loan application will be rejected if your SSS number is only temporary. This is when you registered online and not on the SSS branch office. To convert your temporary number to permanent, visit any SSS branch near your area and apply for permanent SSS number. Make sure to bring supporting documents such as birth certificate, baptismal certificate, or updated passport.

3. Unpaid outstanding loan.

If you have an existing loan and wish to apply for another or to renew, make sure that you have paid 50% of the amount of your outstanding loan. You should also wait for a year after your current loan amortization is completed as possible.

4. Late posting of loan payments

This mistake is common to employed members. Employers were not updated in remitting the loan payments of their employees. That’s why it is important to ask for your company HR or employer to know if your SSS contribution is posted and paid every month.

5. More than one registration

Multiple registrations could be a problem when applying for a salary loan in SSS. Make sure to fix your records, choose the one you are currently using and cancel the other numbers.

By following the above reminders might spare from possible rejection if you have in mind to apply for SSS salary loan.