In short
The Salary Loan itself is a general cash loan at 8% a year, diminishing balance, paid over 24 months, with no peso maximum stated.
A bank car loan on ₱1,000,000 over 60 months starts at ₱20,967 a month at UnionBank, one of 8 banks compared on this site.
- Car, auto or vehicle loan at SSS
- None. Not on the SSS loans page
- SSS Salary Loan rate
- 8% a year, diminishing balance (10% on some renewals)
- Salary Loan term
- 24 equal monthly amortizations
- Salary Loan purpose stated by SSS
- Short-term credit needs, no purpose restriction named
Check which banks' rules you meet
Loan length: 5 years.
Enter your age and monthly income to see which banks' rules you meet.
The banks' stated minimums. Banks also check your credit record and documents; meeting these rules is not an approval. Security Bank's income rule differs between its own pages, so this tool leaves it out.
Does SSS have a car loan?
No. The SSS member loans page lists seven products. They are the Salary Loan, SSS LoanLite, Calamity Loan and Emergency Loan Program.
The rest are the Pension Loan Program, Conso Loan Program and the Option to Sell Shares of Stocks Program. None of the seven is a car, auto or vehicle loan.
The word vehicle does not appear on the Salary Loan page or in the circular that governs it.
The product people mean when they type "sss car loan" is almost always the Salary Loan, a general-purpose cash loan open to nearly every member.
It can help pay for a car the same way it can help pay for anything else. But SSS states no vehicle-specific rate, amount or eligibility rule for it.
What the SSS Salary Loan actually pays
SSS describes the Salary Loan as a privilege loan for a member's short-term credit needs, with no purpose named or restricted. The rate is 8% a year on a diminishing principal balance for a first loan or an ordinary renewal.
It rises to 10% a year if you renewed earlier with a penalty condonation in the past five years.
A 1% service fee comes out of the proceeds, and interest up to the month before your first amortization is deducted in advance.
How much you can borrow depends on your contributions, not a fixed peso figure. A one-month loan is the average of your 12 latest posted Monthly Salary Credits; a two-month loan doubles that average.
Either way, the loan is capped at the amount you actually applied for if that is lower. Repayment runs 24 equal monthly amortizations, starting the second month after approval, and a missed payment adds a 1% monthly penalty.
- Rate
- 8% a year, diminishing balance (10% on condoned renewals)
- Service fee
- 1% of the loan amount, deducted from proceeds
- Term
- 24 equal monthly amortizations
- Late payment penalty
- 1% a month on the overdue amount
How much you can borrow and who qualifies
A one-month Salary Loan needs 36 posted monthly contributions, six of them in the last 12 months before you file. A two-month loan needs 72 posted contributions, with the same six-in-twelve-months rule.
Either way you must be of legal age and under 65, with no past-due Salary Loan and an active disbursement account enrolled for direct crediting.
Employed members, including kasambahay, self-employed members, voluntary members and land-based OFWs can all apply. Self-employed, voluntary and OFW members, though, need at least six posted contributions under their current membership type.
SSS states no minimum salary figure and no peso ceiling for the loan; both are set by your contribution history, not a fixed rule.
| Requirement | One-month loan | Two-month loan |
|---|---|---|
| Posted contributions | 36, average of the latest 12 | 72, twice the average of the latest 12 |
| Contributions in the last 12 months | 6 | 6 |
| Age | Legal age to under 65 | Legal age to under 65 |
| Prior loan status | No past-due Salary Loan | No past-due Salary Loan |
How to apply for the SSS Salary Loan
SSS files the Salary Loan online only, through the member's My.SSS account or the MySSS mobile app. An employed member's application needs the employer's electronic certification before it moves forward.
The 2026 Citizen's Charter states a total processing time of five working days and six minutes. It lists no document requirement for the online application itself.
- Log in to My.SSS or the MySSS app
Confirm your posted contributions and Monthly Salary Credit before applying.
- File the Salary Loan application online
Choose a one-month or two-month loan based on what your contribution history supports.
- Wait for employer certification, if employed
Your employer must electronically certify the application in My.SSS before it proceeds.
- Receive proceeds in your enrolled account
Payout goes to an active MySSS Card, UMID ATM Pay Card, or a PESONet bank account enrolled for direct crediting.
What to use instead for a car purchase
The Salary Loan is cash with no vehicle tied to it. It works as a bridge for a down payment or fees, not as the loan for the car itself.
For the car, a bank auto loan is secured against the vehicle and built for the purpose. BPI starts down payments at 15%, and BDO asks for a household income of ₱50,000 a month.
The car loan calculator compares all 8 banks side by side. On a ₱1,000,000 loan over 60 months, add-on rates at the 7 that quote one today span 25.80% to 32.52%.
SSS LoanLite is a separate, smaller product, PHP 1,000 to PHP 20,000 over 15, 30, 60 or 90 days through participating financial institutions.
Its listed uses do not include vehicles either, and it should not be confused with the Salary Loan.
A cash loan like the SSS Salary Loan can help cover a down payment. It cannot replace the auto loan itself, since it is not secured against the car. It is also capped by your posted contributions, not the vehicle's price.