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Lower SSS loan rates start in Q3

Manila Bulletin

May 3, 2025

State-run Social Security System (SSS) said the private sector and Filipinos working abroad will benefit from lower interest rates on salary and calamity loans starting the third quarter of the year, with the reduction to single-digit rates set to take effect in July.

- By DERCO ROSAL

“From the current interest rate of 10 percent, salary loan interest rate shall be reduced to eight percent while calamity loan interest rate shall be reduced to seven percent,” SSS President and Chief Executive Officer (CEO) Robert Joseph M. De Claro said in a statement released on Friday, May 2.

De Claro noted that the proposal to lower interest rates on salary and calamity loans, which was announced earlier this year, was already approved by the policy-making Social Security Commission (SSC), chaired by Finance Secretary Ralph G. Recto.

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