Salary Loan in the Philippines

Salary Loan in the Philippines -diarynigracia

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4 Salary Loans to Finance Your Immediate Expenses


Filipinos are usually cash-trapped or in need of money. It’s either there’s an emergency or bills that must be paid. This is usually why Filipinos are looking for something to help them instantly finance their needs: you can’t let go of your savings to pay for all of these at once. What will be better than getting rid of these peace-wrecking financial problems but still being able to pay them in monthly installments? A salary loan will be there to help you.

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A salary loan will be right for you if you need quick and easy loans. Needing something easy to apply, with no need for credit checking and fast cash loan disbursement? Yes, a salary loan will be the best fit for you. Filipinos might not be well informed about this type of loan, which is why this article is written for you. If you’re interested to know more, keep reading to consider a salary loan as one of your options during a financial emergency.



What is a salary loan?


Making ends meet or living paycheck to paycheck is a difficult life to live. Emergencies or sudden financial expenses make it even worse. Having no money to use for this financial emergency can be quite hard for someone, especially if your next paycheck is still weeks away. In this dire situation, salary loans are a lifesaver.


A salary loan is a personal loan, a financial service that can provide quick help with necessary expenses such as medical bills, tuition, and other emergencies. They are usually offered by government institutions, banks, or private lenders. The amount you can usually loan in salary loans is based on the borrower’s monthly salary. You can pay them in full on your next paycheck or monthly installments. They offer flexible terms but incur a high-interest rate, so it is best to pay it back as soon as possible to avoid acquiring additional debt.


Emergencies might require you to loan for instant money, but it is best to think about it first before getting one. Take note that a salary loan is just like any loan. It is a debt with a high interest, which can make you suffer from financial debt if you’re not responsible enough to pay it off. Consider other options first, such as personal loans, mortgage loans, car loans, etc., which offer longer payment terms and lower interest rates, before considering a salary loan as your option.



Vidalia Salary Loan


Vidalia Lending Corporation is a private lending company in the Philippines, providing millions of loans since 2008. Helping Filipinos get through their financial problems by providing different financial services or assistance in the form of short-term loans such as personal loans, small business loans, and salary loans.


With their fast application and quick cash disbursement, Vidalia Salary Loan is one of the best choices you will make when you need quick cash. You will always get the money you need for planned and immediate expenses. You can apply online in the comfort of your home and use your loan in any way you want. The decision is yours.


            Salary Loan Details


Loanable Amount: Minimum of ₱20,000 up to ₱50,000

            Loan Term: 2 to 12 months

            Interest Rate: 6% (Max Annual Percentage rate 80.6%)

Other Fees: Processing Fee – 5%

            Funding Time: 2 to 5 days, depending on your application





  • Applicant must be a Filipino Citizen.
  • Applicant’s age must be 20 to 60 years old.
  • For employed applicants, should have at least ₱15,000 gross monthly income
  • Must be a permanent/regular employee
  • For Self-Employed applicants, should have at least ₱30,000 gross monthly income.




  • Two (2) valid IDs (Company ID, Passport, Driver’s License, SSS/GSIS)
  • Proof of Billing (Electricity, Water, Landline)
  • Latest two (2) months’ payslips
  • Certificate of Employment (COE) with compensation


            How to Apply


  1. Download the Vidalia Lending Corp application on your phone or visit Vidalia. Start your online application and fill out the necessary details needed, such as personal information and loan details.
  2. Wait for a phone call from a Vidalia representative to confirm the information provided on your application and to undergo a phone interview.
  3. You will be asked to submit your documents online. Pass them as soon as possible for a faster application process.
  4. Once your application is approved, you can pick up your loan check at one of Vidalia’s offices from Monday to Friday. You can also let your loan funds be deposited directly into your bank account.



Security Bank Corporate Salary Loan


Having a good track record of stability and consistent profitability, Security Bank stands as one of the Philippines’ top ten private domestic universal banks in terms of asset, deposit, capital, and return on equity. Security Bank promises to deliver customer-centricity at the forefront continuously. Putting customers first and personalized solutions based on your needs. The bank provides different financial services, including a corporate salary loan for employees who need quick financial assistance.


Security Bank’s Corporate Salary Loan allows employees of accredited companies to apply for a salary loan conveniently with affordable monthly payments. The monthly payments or installments for their loan can be paid through salary deduction for convenience, and this loan can be used in various ways, such as for education, traveling, health and wellness, and more.


            Salary Loan Details


Loanable Amount: Minimum of ₱10,000 up to ₱1 million

            Loan Term: from 6 up to 36 months

            Interest Rate: 0.99%

            Other Fees:

  • Processing fees: ₱250
  • Notarial Fee: ₱100 (only applicable for ₱100,000 loan and up)
  • Documentary Stamps: ₱1.50 for every ₱200 (only applicable for ₱250,000 loan and up)
  • Late Payment fee: 3% of the monthly amortization or ₱500 (whichever is higher)

            Approval Time: 3 to 4 banking days.




  • Applicant must be an employee in a Security Bank’s accredited companies
  • Must be a Filipino/Foreigners/Expats provided the term of the loan will be co-terminus with contract and/or period of visa’s validity.
  • Must be at least 21 years old, but age should not exceed 65 years old upon loan maturity.
  • Must be a regular or a permanent employee with the current employer with at least six (6) months tenure and with a total employment tenure of at least one (1) year with a maximum of two (2) employers.
  • Must have an office landline and mobile number.
  • Must have at least a gross monthly income of ₱9,000 (for Metro Manila) and ₱8,000 (for outside Metro Manila)




  • Completely filled out and signed Salary Loan application form
  • Duly signed four (4) copies of the Promissory Note
  • Four (4) copies of the Disclosure Statement
  • Photocopy of Company ID with three (3) specimen signatures
  • Photocopy of one (1) Government-issued ID
  • Photocopy of the latest BIR Form 2316 indicating the employee’s TIN#
  • Most recent 1-month payslip
  • Certificate of Employment



            How to Apply


  1. Ask for a Salary Loan application form from your HR Personnel
  2. Completely fill out and sign the Salary Loan application form.
  3. Together with your documentary requirements, submit your filled-out form to your designated HR Personnel.
  4. Wait for your application’s approval. This may take around 3-4 banking days.



SSS Salary Loan


Social Security System, commonly known as SSS, is a government financial institution located on East Avenue, Quezon City, Philippines. It was established on the 1st of September 1957 through the Social Security Act 1954 and the Republic Act (RA) No. 11199, known as the “Social Security Act of 2018” or the SSS Law effective from March 5, 2019, which protects private employees.


A salary loan can be availed by an employed SSS member or an active self-employed and/or voluntary member. It provides financial assistance to those in need and is short of cash in times of need.


Salary Loan Details


Loanable Amount:

  • One-month Salary Loan: member’s average last twelve (12) monthly salary credits or the amount the member applied for, whichever is lower.
  • Two-month Salary Loan: member’s twice the average last twelve (12) monthly salary credits or the amount the member applied for, whichever is lower.

            Loan Term: up to 24 months

            Interest Rates: 10% per annum

            Other Fees:

  • Service Fee – 1% of the total loan amount
  • Late Payment Penalty fee – 1%

            Approval Time: two to three weeks






Be an employed active member of SSS with updated payments of other loans with SSS.

  • If employed, your employer must be updated with the payments of the contributions and loans.
  • If not employed, must be currently paying self-employed or voluntary member.
  • If planning to apply for the one-month loan, you should have thirty-six (36) monthly contributions, six (6) of which should’ve been posted in the last twelve (12) months before the application.
  • If planning to apply for the two-month loan, you should have seventy-two (72) monthly contributions, six (6) of which should’ve been posted in the last twelve (12) months before the application.




  • Member loan application form
  • SSS Digitized ID or E-6 (acknowledgment stub) with any two (2) valid government-issued IDs, one of which should contain a recent photo.
  • If filed by Member-borrower’s Authorized representative
    • Authorized Representative’s SS card or any two (2) valid IDs with signature and at least one (1) with a photo
    • Letter of Authority (LOA) signed by both the member-borrower and Authorized representative
    • Member-borrower’s SS card or any two valid IDs with signature and at least one with photo.
  • If filed by the Employer/Company’s Authorized Representative
    • Authorized Representative’s SS card or any two (2) valid IDs with signature and at least one (1) with a photo
    • Letter of Authority (LOA) from employer and any two (2) valid IDs, both with signature and at least one (1) with photo.
    • Member-borrower’s SS Card, or in its absence, Application for SS Card (SS Form E-6) acknowledgment stub and any two (2) valid IDs both with signature and at least one (1) with photo.


How to Apply


The member-borrower may submit their loan application at the nearest SSS branch. If the member has a My.SSS account, they can submit their loan application online for convenience. If the salary loan application is submitted by the employer online, the application will be directed to the employer’s My.SSS account for certification. Hence, the employer must have an SSS Web Account.




AUB Salary Loan


Asia United Bank Corporation (AUB) was granted its full-branch commercial bank license in 1997 and continues to provide quality and efficient banking services now. The bank’s operating business is well organized and managed primarily, and each business unit caters to different identified markets: commercial, consumer, treasury, branch banking, and others. Together with these different sectors to cater to different consumers, they offer a wide variety of banking and other financial services such as deposit products, corporate banking, and corporate and consumer loan, where salary loans are included.


AUB Salary loan aims to help seafarers to reach their personal goals and secure their family’s future. Qualified seafarers looking for a short-term loan can apply for AUB’s salary loan. This can be of great help since they offer low-interest rates and no advance payments.


            Salary Loan Details


            Loanable Amount: up to ₱500,000

            Loan Term: up to 10 months

            Interest Rate: starts at 4% per month

            Approval Time: 24 hours upon complete submission of the application




  • Applicant must be a Filipino Citizen.
  • Applicant must be at least 21 years old, but age should not exceed 60 years old upon loan maturity.
  • Applicant must have completed at least one employment contract at the time of loan application.
  • Applicant must open an account with AUB
  • Should have at least US $800 gross salary




  • Completely filled out and signed Salary Loan Application Form
  • Photocopy of Employment Contract with POEA Stamp
  • Photocopy of Passport and Seaman’s Book
  • Photocopy of Seafarers Registration Certificate (SRC) or Worker’s Information Sheet (WIS)
  • Allotment Arrangement certified by the company.
  • Plane ticket or Certificate of Departure issued by the manning agency
  • Authority to deduct from AUB account



Is a Salary Loan Worth It?


Applying for a Salary Loan can be worth it if you need a quick cash loan for emergency uses since they are only suitable for unforeseen events, and you can’t find enough money to finance this immediate expense. Either your savings didn’t reach the cut, or your friends and relatives don’t have the extra cash to help you. In these cases, a salary loan can be a lifesaver.


However, the feature of a salary loan being a loan with fast application and quick approval may lure you into getting one, even if you don’t need it. Always note that, unlike other cash loans, salary loans charge you a high-interest rate. If you can’t afford its monthly payments, this will only cause you to bury yourself in a big pile of debt, and if you still can’t afford to pay all of these debts, the continuous charge of interest rates will add more fuel to the flame.


If you do not need immediate cash but still need extra money, opting for a personal loan with low-interest rates is better. Research and look around the market that offers a flexible payment term and lower interest rate to save you money and a headache! Compare loans to find the best one for you, and be disciplined enough to avoid burying yourself into a deep debt hole.



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