How To Pay SSS Salary Loan - 2021 Updated Guide

3/16/2021 How to Pay SSS Salary Loan: 2021 Updated Guide
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How to Pay SSS Salary Loan: An Ultimate Guide
https://filipiknow.net/how-to-pay-sss-salary-loan/ 1/20
Last Updated on 03/16/2021 by FilipiKnow
The SSS salary loan works like any other loan: You borrow money and you repay it according to
an agreed-upon schedule and interest rate.
The money you borrow may have come from your own contributions but at the end of the day,
it’s still a loan so you have the obligation to pay it on time.
Not paying your loan on time or at all will prevent you from enjoying benefits from the Social
Security System in times when you need them the most (e.g., SSS unemployment insurance
for members who have lost their jobs).
In this guide, you’ll learn everything you need to know about paying your SSS salary loan on
time and what happens in the event that you fail to do so.
Go back to the main article: How to Apply for SSS Salary Loan Online
Table of Contents
The SSS salary loan is payable in how many years?

When does repayment of the SSS salary loan start?
How much is SSS salary loan interest?
How to Pay SSS Salary Loan: A Step-by-Step Guide.
1. Obtain a Payment Reference Number (PRN).
2. Pay your salary loan.
Option 1: Walk-in payment.
Option 2: Online payment.
How to pay your SSS salary loan online via Union Bank of the Philippines.
How to pay your SSS salary loan online using Moneygment app.
3. Wait for your payment to be posted.
How to Check SSS Salary Loan Balance.
1. Install the SSS mobile app on your phone.
2. Log in using your user ID and password.
3. Select “My Loans”.
4. Select “Salary Loan Balance”.
5. View your outstanding loan balance.
How much is the penalty for late payment of SSS loan?
What happens to unpaid SSS salary loan?
Frequently Asked Questions.
1. I have overpaid my SSS loan. How can I refund it?
2. Can I pay my SSS loan in full?
3. Can I pay my SSS loan in advance?
References.
The SSS salary loan is payable in how many years?

The SSS salary loan is payable within 2 years or in 24 monthly installments.
When does repayment of the SSS salary loan start?

The payment starts on the 2nd month following the date of loan. For example, if your SSS
salary loan is approved and released in March (as shown in the image below), the monthly
amortization starts 2 months later (i.e., May).
The due date, on the other hand, is on the last day of the month following the applicable month
(if the deadline falls on weekends or on a holiday, the payment can be made on the next
business day).
Using the same example above, the first applicable month or the month when you’re
scheduled to pay your first monthly amortization is May. If you fail to make a payment within
this month, you still have until June 30 to settle the amount due. The same thing applies to all
the succeeding months until your loan is fully paid.
How much is SSS salary loan interest?

The salary loan is payable in 24 months with an interest rate of 10% per annum based on
diminishing principal balance. This means that the interest you’ll pay each month will be
based on the outstanding principal balance for that particular month until your loan is fully
paid.
Using the table below as an example, the interest that will be charged from you for your first
monthly amortization can be determined by getting the 10% of the loan proceeds and dividing
it by 12.
Php 20,000 x 0.10 = Php 2,000
Php 2,000/12 = Php 166.67
After paying your first monthly amortization, your outstanding principal balance is now only
Php 19,243.77. Based on this balance, you can now compute the interest for your second
monthly amortization:
Php 19,243.77 x 0.10 = Php 1,924.377
Php 1,924.377/12 = Php 160.36
Now use the new outstanding principal balance to compute the interest for your third monthly
amortization and so on and so forth until your loan is fully paid.
How to Pay SSS Salary Loan: A Step-by-Step Guide.

Employed members can pay their loans through automatic salary deduction.
Meanwhile, members who belong to other categories (i.e., OFWs, voluntary, and self-
employed) must pay the loans by themselves.
Starting April 1, 2021, non-formally employed members will be required to secure a payment
reference number (PRN) first before they can pay their loans. This guide will focus on how
OFWs, voluntary, and self-employed members can pay their loans using the new system.
1. Obtain a Payment Reference Number (PRN).
As mentioned above, you can no longer pay your SSS salary loan without a PRN1. This recent
change is part of the Real-Time Processing of Loans (RTPL) program of SSS which seeks to
enhance and speed up the way the agency handles its loan transactions.
Short for a payment reference number, the PRN is a system-generated number corresponding
to your billing statement.
The use of PRN facilitates the real-time posting of payments. However, PRN for contribution
payments is different from PRN for loan payments. Hence, the process of obtaining the
latter is different as well.
There are three ways of finding this PRN:
Via email – SSS usually issues a loan billing statement every first week of the month and
sends it to the member’s registered email address. The sender is usually “SSS RTPL
BILLING” (see the screenshot below). The message contains the amount you need to pay,
when it’s due, and the payment reference number you need to complete the payment.
Via text – SSS also sends the latest billing statement along with the PRN to your registered
mobile number. However, based on my experience, SSS only sent one to my email address. I
didn’t receive any reminder from them via SMS. Perhaps they’re still adapting to the new
system, hence the technical glitches. If you want to ensure SSS has your latest mobile
number, here’s a handy guide to help you.
Via the SSS member portal – Aside from your email, you can also check your own SSS
online account for the latest loan billing statement. Login to your account and look for
“RTPL PRN” on the far right of the main menu. Click this to display a table containing the
amount due, your outstanding balance, the applicable month, and the payment reference
number (PRN). To secure a copy of your billing statement, click the “PRN” button. Then,
either take a screenshot of the billing statement or click the “Print” button at the bottom of
the page to get a hard copy.
2. Pay your salary loan.

After obtaining the payment reference number, you have two options to pay your salary loan:
Option 1: Walk-in payment.
SSS Salary Loan Walk-in Payment Channel Employer Individual Members
SSS Branches with Automated Tellering System (ATS) Yes Yes
Security Bank Corporation Yes Yes
Union Bank of the Philippines Yes Yes
Philippine National Bank (international) No Yes
SM Mart Inc. Yes Yes
Bayad Center Yes Yes
With a screenshot or printed copy of the billing statement containing the PRN and barcode,
proceed to the nearest SSS office with tellering facility. Present it to the cashier along with
your payment.
Aside from SSS offices, individual members and employers can also pay SSS loans at RTPL-
compliant collecting partners like Bayad Center, SM Mart Inc., and banks like Security Bank,
Union Bank of the Philippines, and Philippine National Bank (for OFWs).
Option 2: Online payment.
SSS Salary Loan Online Payment Channel Employers Individual Members
Security Bank Corporation Yes Yes
Union Bank of the Philippines Yes Yes
Asia United Bank Yes No
Bank of Commerce Yes No
China Bank Corporation Yes No
CTBC Bank Yes No
Metropolitan Bank and Trust Company Yes No
MUFG Bank Yes No
Philippine Bank of Communication Yes No
Philippine National Bank Yes No
Philippine Trust Company Yes No
Philippine Veterans Bank Yes No
Rizal Commercial Banking Corporation Yes No
Robinsons Bank Yes No
Standard Chartered Bank Yes No
United Coconut Planters Bank Yes No
If you don’t have time to go outside, you also have the option to make the payment online.
For employers, PRN loan payments can be completed via BancNet’s eGov facility which is
available to account holders of the following participating banks: United Coconut Planters
Bank, Standard Chartered Bank, Robinsons Bank, Rizal Commercial Banking Corporation,
Philippine National Bank, Philippine Bank of Communications, MUFG Bank, Asia United Bank,
Bank of Commerce, China Bank Corporation, CTBC Bank, and Metropolitan Bank.
For OFWs, voluntary, and self-employed members, online loan payments are accepted via
Security Bank, Union Bank of the Philippines, and other approved collecting partners.
I don’t have an account with Security Bank so I can only share how I successfully paid my
salary loan in the past using Union Bank and Moneygment.
How to pay your SSS salary loan online via Union Bank of the Philippines.
1. Log in to your Union Bank online account.
2. Click “Pay Bills”.
3. Look for and select “Social Security System (SSS)” as your biller.
4. Enter your PRN and click “Next”.
5. Review the details of your transaction before clicking the “Pay” button.
6. Enter the one-time password (OTP) sent to your mobile number to confirm payment.
How to pay your SSS salary loan online using Moneygment app.
1. Download the Moneygment app on your phone;
2. Open the app and click ‘Register Now’ to create an account;
3. Once you already have an account, reopen the app and log in with your email address and
password;
4. Click ‘Go to wallet’ on your dashboard. Select Top-up and enter the desired amount, taking
into consideration the amount of the loan you want to pay and the service fee that comes
with paying through the Moneygment app. Once the amount is final, click ‘Confirm’;
5. Choose how you want to load your Moneygment wallet. As of this writing, you can pay
through bank deposit, ECPay, Dragonpay, 7-11, or PayPal. If you’re already using online
banking or you already have GCash, Dragonpay is the best way to go;
6. Once the money is in your wallet, it’s time to pay your salary loan. To do it, go back to your
dashboard and click ‘Pay Pag-IBIG, Philhealth & SSS’;
7. Select the SSS tab and in the drop-down menu in front of ‘SSS PAYMENT’, choose ‘Salary
Loan’ instead of the default ‘Contribution’;
8. Click the toggle button beside the question “Already have a PRN?”. Then, enter your PRN.
9. Double-check if the information is correct and then type in the exact amount of loan that
you want to pay in the designated field. Click ‘Submit’;
10. Select ‘Pay with Wallet’ and click ‘Proceed’;
11. A confirmation email will be sent to you to confirm that the payment is now being
processed. Take note it may take 2 or more days for your payment to be processed if you’re
making it through the Moneygment app so make sure you’re not making the said payment
on the exact day when your monthly amortization is due.
3. Wait for your payment to be posted.

After completing the payment, you’ll be notified via email or text message when the payment
is confirmed and posted.
How to Check SSS Salary Loan Balance.

To check the remaining balance of your SSS salary loan, follow these steps:
1. Install the SSS mobile app on your phone.
2. Log in using your user ID and password.
These are the same login credentials you use to access the SSS member portal. In case you
haven’t created an account yet, follow this easy registration guide.
3. Select “My Loans”.
4. Select “Salary Loan Balance”.
5. View your outstanding loan balance.
You can also try the automated text messaging service but based on my experience, the
service for checking the loan balance is always unavailable.
If you’re an employed member who is paying your loan via automatic salary deduction, always
make sure that your payments are up to date. In case the payments aren’t posted in the
system yet, you can request a copy of the SSS salary loan collection list from your employer to
prove that the loan payments have indeed been deducted from your salary and remitted to the
SSS.
In case the member has proven that the employer has intentionally failed to remit the loan
payments to SSS, the member-borrower is encouraged to file a complaint against the
delinquent employer by submitting an Affidavit or Sinumpaang Salaysay to any SSS branch
office.
How much is the penalty for late payment of SSS loan?

If the monthly amortization is not remitted on the due date, it will bear a penalty of 1% per
month until the loan is fully paid. Even if the delay is a fraction of a month, the amortization will
still be charged a full month penalty.
What happens to unpaid SSS salary loan?

A member’s failure to pay more than 6 monthly amortizations will result in loan default. A
defaulted account incurs 10% interest per annum on the outstanding principal balance as well
as 1% penalty per month on unpaid principal and interest.
These unpaid obligations of a defaulted account will be deducted from the future benefits that
will be claimed by the member. For example, the unpaid loans (together with the interest and
penalty) of a voluntary/self-employed member will be deducted from either short-term
benefits like sickness benefit or from the member’s death, total disability, or retirement
benefit, whichever comes first.
Go back to the main article: How to Apply for SSS Salary Loan Online: An Ultimate Guide
Frequently Asked Questions.
1. I have overpaid my SSS loan. How can I refund it?

You may go to the nearest SSS branch office to have it refunded. Otherwise, any over-payment
in your current loan will be applied to the subsequent salary loan you will avail of in the future.
2. Can I pay my SSS loan in full?
Yes. To pay your remaining loan balance in full, log in to the SSS member portal and click “RTPL
PRN” on the main menu. Make sure you haven’t paid your most recent loan bill yet otherwise
the billing statement won’t be displayed. Look for “Amount to be Paid” and enter the exact
amount of your outstanding balance. Click “Save All” and then proceed with the payment using
the latest PRN.
3. Can I pay my SSS loan in advance?

Yes. To pay your SSS loan in advance, simply follow the same instructions in the previous
section. You can either pay the outstanding balance in full or just enter the amount you can
afford. Save the changes and then pay the indicated amount using the same PRN.
References.
1. Compulsory use of payment reference numbers for short-term SSS loan payments starts
April 1. (2021). Retrieved 5 March 2021, from
https://www.sunstar.com.ph/article/1885112/Pampanga/Business/Compulsory-use-of-
payment-reference-numbers-for-short-term-SSS-loan-payments-starts-April-1
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3/16/2021 How to Pay SSS Salary Loan: 2021 Updated Guide

How to Pay SSS Salary Loan: An Ultimate Guide

Last Updated on 03/16/2021 by FilipiKnow

for members who have lost their jobs).

The SSS salary loan is payable in how many years?

The SSS salary loan is payable in how many years?

When does repayment of the SSS salary loan start?

How much is SSS salary loan interest?

Php 20,000 x 0.10 = Php 2,000

Php 2,000/12 = Php 166.67

Php 19,243.77 x 0.10 = Php 1,924.377

Php 1,924.377/12 = Php 160.36

How to Pay SSS Salary Loan: A Step-by-Step Guide.

1. Obtain a Payment Reference Number (PRN).

There are three ways of ﬁnding this PRN:

2. Pay your salary loan.

Option 1: Walk-in payment.

SSS Salary Loan Walk-in Payment Channel Employer Individual Members

SSS Branches with Automated Tellering System (ATS) Yes Yes

Security Bank Corporation Yes Yes

Union Bank of the Philippines Yes Yes

Philippine National Bank (international) No Yes

SM Mart Inc. Yes Yes

Bayad Center Yes Yes

Option 2: Online payment.

SSS Salary Loan Online Payment Channel Employers Individual Members

Security Bank Corporation Yes Yes

Union Bank of the Philippines Yes Yes

Asia United Bank Yes No

Bank of Commerce Yes No

China Bank Corporation Yes No

CTBC Bank Yes No

Metropolitan Bank and Trust Company Yes No

MUFG Bank Yes No

Philippine Bank of Communication Yes No

Philippine National Bank Yes No

Philippine Trust Company Yes No

Philippine Veterans Bank Yes No

Rizal Commercial Banking Corporation Yes No

Robinsons Bank Yes No

Standard Chartered Bank Yes No

United Coconut Planters Bank Yes No

1. Log in to your Union Bank online account.

2. Click “Pay Bills”.

4. Enter your PRN and click “Next”.

1. Download the Moneygment app on your phone;

2. Open the app and click ‘Register Now’ to create an account;

10. Select ‘Pay with Wallet’ and click ‘Proceed’;

3. Wait for your payment to be posted.

How to Check SSS Salary Loan Balance.

1. Install the SSS mobile app on your phone.

2. Log in using your user ID and password.

haven’t created an account yet, follow this easy registration guide.

3. Select “My Loans”.

4. Select “Salary Loan Balance”.

5. View your outstanding loan balance.

How much is the penalty for late payment of SSS loan?

What happens to unpaid SSS salary loan?

Frequently Asked Questions.

1. I have overpaid my SSS loan. How can I refund it?

2. Can I pay my SSS loan in full?

3. Can I pay my SSS loan in advance?

FilipiKnow is a portmanteau of two words: "Filipino" and "knowledge."