The SSS Salary Loan is a short-term cash loan designed to provide financial assistance to active SSS members who need emergency funds. It may be availed as a one-month or two-month salary loan depending on contribution history and average Monthly Salary Credit (MSC). Members must have at least 36 posted contributions, with six posted within the last 12 months before filing. Employed members rely on their employers for certification and remittance of amortizations, while voluntary and OFW members pay directly. The loan is payable over 24 months with monthly amortizations that include interest, a service fee, and penalties if payments are delayed.
Hospital delivery in the Philippines can easily cost ₱60,000 - ₱200,000 depending on the hospital and type of delivery.
Many parents use a credit card to manage these expenses while waiting for their SSS maternity benefits.
