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Best options for salary loans: Banks, SSS, Pag-IBIG or Online Lenders?

Last updated: April 11, 2024
Written by: Digido Financial Writers Team | Reviewed by: Anna Kireeva

Key takeaways:

  • Salary loan is a type of loan where the borrower repays the loan and interest in the form of monthly payroll deductions.
  • You can get a salary loan from commercial banks or government agencies such as SSS or Pag-IBIG where the PAG-IBIG Loan is available to all active fund depositors regardless of occupation
  • As an option, you can take a salary loan with Digido for up to 25,000 pesos at 0% interest for first-time borrowers
How much money do you need?
10 000
min ₱ 1 000
max ₱ 10 000
You will have to return*: 10 000
All your data is under secure protection!
*Interest payments are approximate. The final loan amount and interest rate must be confirmed in your loan agreement after loan approval
Who can get a Digido loan?
You are 21-70 years old
You are a Filipino citizen
You have a valid government ID

Having a regular and consistent income in the form of salary imparts an excellent feeling of financial security. However, life is quite unpredictable; an immediate requirement for money can sprawl from anywhere. It can be an emergency hospital expense or an unavoidable upgrade of your laptop or an unplanned travel. Indeed, your salary alone can’t assure you immunity from all such financial emergencies. But it can protect you from getting into debt traps. 

In the event of financial emergencies, people often tend to get short term loans with the minimal documentation process. Lenders or banks exploit the borrower’s vulnerability through expensive loans and push him or her to a bottomless pit of liability.

The usual practice for many Filipinos, especially for those whose salaries are barely able to keep up with their daily needs, is to ask their salaries in advance from their employers or ask money from fellow employees. If neither method works then they would have to resort to a more formal way – a bank or some other type of financial institution will have to provide the loan.

Then salary loan with low-interest rates and minimal documentation processes are the best and a quick solution.

Get a Quick Salary Loan Online
  • First loan with 0% interest rate
  • Get up to PHP 25,000 in just 4 minutes
  • Over 95% approval rate

What is a Salary Loan? 

Salary loans, provide borrowers with a short-term financial solution until their next paycheck arrives. Typically, salary loans offer you loans based on your monthly salary. The borrower repays the loan and interest as monthly deductions from his salary paycheck. When a salary loan is taken out, the expectation from the lender is that it will be paid on the next date when the borrower’s salary is available. The borrower must repay the borrowed amount plus whatever interest rate was added to the principal amount.

Salary loan is a special kind of loan wherein you put your next salary on the line. This is why this type of loan also goes by the name payday advance or cash advance.

The loan amount typically aligns with the borrower’s gross monthly income, setting a predetermined repayment period. For some loans, the loan term can be weeks, but for some, it is as long as 12-36 months. Significant highlights of salary loans are their easy availability, no requirement for collateral security or guarantor.

Advantages and Disadvantages of Salary Loans

The distinctive feature of payday loans lies in their accessibility and speed. Simply submit an online application, meet a few requirements, and one can expect to have funds deposited in as little as 24 hours. The loan amount typically aligns with the borrower’s gross monthly income, setting a predetermined repayment period. However, such loans also have their disadvantages.

Advantages of Salary Loans

Disadvantages of Salary Loans

Useful for addressing immediate or emergency financial needs

Have lower loan amounts and shorter repayment terms

Quick approval and disbursement

Short repayment terms can lead to financial strain if not managed well

Based on the borrower’s monthly income

Possible additional fees or charges for late repayments

Usually doesn’t require collateral

Rollover fees can accumulate if loans are extended

Flexible repayment terms, often aligned with the borrower’s payday


Require fewer documents as compared to traditional loans 


Learn More
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PayDay Loans and Salary Loans in the Philippines 

People often mistake Salary loans with PayDay loans due to the similarity of the names. But in fact, they are poles apart in their nature and characteristics.

👉 Payday loans – are ultrafast loans to manage an emergency financial situation till your next payday. Typically the loan amount will be small, but the interest rate would be quite high. These loans require a one-time settlement, usually within a few days. Payday loans are needed to bridging the gap between paychecks.

👉 Salary loans – carry the conventional attributes of “Good Loans”. Anyone with a regular monthly income can loan against their salary with minimal interest rates and monthly repayments. Even though you can use the loan to overcome your temporary crisis, its repayment won’t impose too much strain on your financial liberties. Easy availability of loans and the ability to maintain the quality of life, even with regular loan repayment, make Salary loans one of the most popular financial products throughout the Philippines. 

  • Purpose of salary loans: Designed for anyone with a regular monthly income, aiming to help with various needs, not just emergencies
  • Loan Amount: Can be more substantial since it’s based on the individual’s salary
  • Repayment Period: Spread over monthly installments, making it less burdensome
  • Main Benefit: Enables the borrower to maintain their quality of life, even with regular loan repayments
  • Interest Rate: Generally offers minimal interest rates

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Where to Get a 1 day Release Salary Loan?

If you want to get a short-term loan in one day, an online loan with its expedited process and minimal paperwork will suit you. We recommend a certified and legitimate Digido lender. Fully automated loan approval system allows millions to get loans from their comforts around the clock, throughout the year without any requirements of lengthy travel or inconveniences. Operating in the Philippines, Digido is a legal and government-licensed online lender and a full-fledged online portal. If you’re looking for a salary loan App, you can also download the Digido App and get a loan in just half an hour!

Digido provide loans with a repayment of 180 days for everyone with a regular monthly income irrespective of your employment or trade nature. The loan is open for public sector employees, private employees, professionals, self-employed individuals, and freelancers.

The loan doesn’t require any formal recommendations from your employer, and it helps one maintain the confidentiality of his or her finances. The Gig economy is thriving across the world. Digido encourages freelancers to explore its true potential by offering inexpensive salary loans to meet their financial emergencies. 

How much can I borrow and what are the requirements?

Minimum loan amount 1000 PHP
Maximum loan amount 25,000 PHP
Payment terms up to 180 days
Special offer 0% for first loan

What are the advantages of Digido loan to salary?

  • Legit and State licensed companу
  • Faster approval of loans and instantaneous transfer of money, often within 15 minutes
  • Minimal documentation, low processing time and faster approval
  • The loan approval rate is as high as 95%
  • First loan with 0% interest rate
  • We only require 1 government valid ID
  • Eliminates queues, travel, and loss of workdays
  • The loan approval rate is as high as 95%

Salary loan Application: Who can Apply for Digido Loan?

  • You must be a Filipino citizen of at least 21 years of age to 70;
  • The online application should contain real registration and address details (a working mobile phone is required for registration)
  • A scanned copy of your ID  (as well as an income and driver’s license certificatecan increase your chances of being approved for a loan)
  • Accurate information of the bank account for transferring of the loan amount (if you want to get money into your bank account)

To get a quick loan in 30 minutes, you need to fill out a simple form on the site or mobile App and provide your desired loan amount and phone number. To get started, simply click “Apply Now”

Calculate your pre-approved loan amount with Digido calculator:

I want to borrow ₱ 10000
Min: ₱ 1000
Max: ₱ 20000
Payment Terms 10 days
7 days
21 days
My Monthly Gross Income ₱ 20000
You return*: 10 000
All your data is under secure protection!
We recommend taking a loan!

* Interest payments are approximate. The final loan amount and interest rate must be confirmed in your loan agreement after loan approval.

Is Digido legit in Philippines?

Yes, Digido is legit firm. It is registered under the Security and Exchange Commission. Digido has been accredited by SEC in the Philippines, and its details are available on SEC’s official website in the list of financing companies. It means that it operates legitimately in the Philippines and can be trusted for loan applications. You can also read Digido loan reviews on social media and in the mobile app.

salary loan philippines

Where to Get a Salary Loan in the Philippines?

In the Philippines, Commercial banks, Government entities such as Pag-IBIG, SSS, and other Non-banking Financing Companies (NFBC) are the primary financial institutions for Salary loans. 

Bank loans are less expensive. But their eligibility conditions such as accredited employers and good credit scores are too high for the majority to achieve.Banks require a broad set of documents, and it increases processing time. Even though Pag-IBIG and SSS loans are quite affordable, only members can avail of the loans. These conditions force a significant share of Filipinos to seek loans from Non-banking Financing Companies, popularly known as lenders. 

Lenders are less rigid on the loan eligibility conditions and ensure loan availability with minimal formalities and time. They provide excellent customer support and introduce innovative solutions to make the entire process more streamlined and efficient.

For instance, a fully automated or online loan approval system ensures seamless delivery of service beyond the banking hours and helps the user avoid unnecessary travel. Such systems perform scrutiny of the applications in an entirely objective way without any bias or preferences. It improves the processing time and spares the borrower from unnecessary anxieties. 

The regulations for salary loans focus mainly on the well-being of the borrower and avoid any exploitation. The law insists that the monthly payment for a loan shouldn’t exceed 35% of the borrower’s monthly income. Whatever the borrower’s creditworthiness is, no lender can issue a Salary loan that exceeds the borrower’s three monthly earnings. 

salary loan application

8 Bank Personal Salary Loans in the Philippines to Consider

Here’s a table showing a quick comparison of the best salary loans from popular banks in the Philippines:

Salary Loan

Loan Amount PHP

Loan Term

Interest Rate

Maybank Salary Loan

15,000 to 500,000

12 to 36 months

Inquire with Maybank

Sterling Bank of Asia Avance Salary Loan

10,000 to 50,000

3 to 6 months

Inquire with Sterling Bank

BPI Salary Loan

10,000 to 1 million

Up to 36 months

25.60% maximum annual contractual rate 

China Bank Savings Easi-Funds Salary Loan

10,000 to 500,000

Inquire with China Bank Savings

Inquire with China Bank Savings

Metrobank Payroll Cash Advance

Loan amount determined by average net payroll in the past six months

Due on the next payroll credit

Only a ₱125 transaction fee applies, no interest charges

Security Bank Salary Advance Loan

Borrow between 10,000 and 2 million

Up to 36 months

For interest rates, contact Security Bank

Chinabank Salary Plus

15,000 to 1 million

Up to 36 months

Inquire with Chinabank

CTBC Bank Salary Stretch Loan

20,000 to 1 million

12 to 36 months

1.39% to 1.79% monthly add-on rate

Learn about
Fast Loan in 15 Minutes

apply for Pag-IBIG Salary Loan 

Pag-IBIG Salary Loan 

Some financial institutions restrict Salary loans to people from accredited employers only. A considerable number of Filipinos work under private employers. Such restrictions cut them off from availing feasible loans to avoid debt traps. For instance, contract employees, temporary workers, household helpers, or seafarers who work for a foreign ship owners will become ineligible for any Salary loans. Luckily, Pag-IBIG  makes such people’s lives easier by providing Salary loans against their savings through a minimalistic and hassle-free process. 

Who can Get a PAG-IBIG Salary Loan?

PAG-IBG loan is available to all active contributors of the fund irrespective of their job, trade, or nature. 

The primary eligibility criteria are:

  • The applicant should be an active Pag-IBIG member;
  • The total fund savings should not fall below PHP 4,800 or at least 24 months of Membership Savings Contributions;
  • At least one contribution within the last six months;
  • A documented proof of income;
  • No default accounts with Pag-IBIG.

Pag-IBIG Salary Loan Requirements 

To apply for a loan, there are the following requirements: 

  • Photocopies of two ID proofs carrying the applicant’s photo and signature;
  • Latest payslip;
  • Duly accomplished Pag-IBIG multi-purpose loan application;
  • Information on the employer such as: Employer’s Name; GSIS or SSS Number;  Agency Code and Branch Code;  Signature of office head.

The loan privileges one to avail 60-80% of his or her total accumulated fund value as a Salary loan with a relatively extended payment window. 

One advantage of a Pag-IBIG loan is that even without regular employment, one can be a member through voluntary contributions. So, people who live in another country can also assure the availability of financial assistance in case of a financial emergency at their homeland. The ability to avail Pag-IBIG loans online enables people who live outside the metros like Cebu or Davao city to get a Salary loan in an uncomplicated way with little inconvenience. 

However, Philippine freelancers or self-employed citizens are not eligible for this loan. Neither are those employees who do not want to notify their employers of the loan. Digido works for these categories of citizens and provides quick loans in 1 hour.

Learn More
OFW Loan with no hassle in the Philippines

apply for Salary Loan from SSS

Salary Loan from SSS

The SSS Salary Loan is designed to make borrowing more accessible for its members. It stands out with its low annual interest rate of 10%. This loan offers one of the longest repayment terms for salary loans in the Philippines, allowing borrowers to repay in 24 monthly installments over two years. Members can apply either at an SSS branch or online through the My.SSS facility.


  • SSS Salary loan Online Application in the Philippines is available via the My.SSS facility.
  • The loan amount can be up to two months’ worth of the member’s salary.
  • The interest rate is set at 10% per annum.
  • The loan uses a Payment Reference Number (PRN) for repayments.
  • Loan proceeds can be released through the UMID-ATM card (with EMV capability) or any active SSS-accredited bank
  • account.
  • The loan approval process is swift, taking only 60 seconds and 5 clicks for certain member categories like self-employed, voluntary, and OFW members.

Who can apply for Salary Loan from SSS

All SSS members, including employees, self-employed individuals, OFWs, and kasambahays, who have at least 36 or 72 posted monthly contributions are eligible. Out of these, six contributions should be within the last 12 months before the loan application.

  • Applicants should be under 65 years of age at the time of loan application.
  • They should not have been granted any final SSS benefit, such as retirement or permanent disability benefits.
  • For employed members, their employer should be updated in the payment of SSS contributions and loan repayments.


  • For online applications, members need to create an account through the My.SSS portal. No additional documents are required as the SSS membership records are verified online.
  • For branch applications, two valid IDs and a completed member loan application form are necessary.

In summary, the SSS Salary Loan offers a convenient and affordable borrowing option for eligible members, ensuring they can address their financial needs efficiently.

Get a PayDay Loan with 0% interest rate for 7 days!
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Benefits of a Salary Loan for Private Employees

Salary loans are flexible, carry a low-interest rate, and offer repayment as monthly installments. Since the monthly payments are already known, one can chalk out a financial plan to meet the expenses without undue stress. 

Besides financial emergency management, one can use Salary loans as a part of a long-term financial strategy. You can use these low expensive loans to clear off your high expensive ones such as payday loans and maintain your financial health in good shape. 

They don’t require any collateral guarantee and the approval rates are often high. So you can be sure about the availability of funds to manage the crisis. 

1 day release salary loan


Avoiding debts or keeping them to the minimum possible level is the most crucial financial strategy towards achieving financial independence. Salary loans are a great product to harbor during emergencies. But one needs due diligence in the proper management of these loans through timely repayments. Defaulting such loans can lead to the non-availability of funds in case of future emergencies.

During such instances, you may have to resort to more expensive financial solutions such as payday loans, which can make your financial health miserable.

Why do People Take Salary Loans?

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  • How does salary loan work?
    A salary loan is a money loan given to borrowers that must be repaid in full or in installments when the borrower receives his or her next paycheck. Sometimes such a loan is given with the help of an employer.
  • How can I apply SSS salary loan online?
    Yes, you can do this on the official SSS website in your personal account.
  • How much is the maximum salary loan in Pag-ibig?
    A qualified Pag-IBIG member may obtain a loan of up to 6,000,000.00 pesos.
  • Which salary loan in the philippines fast approval?
    If you're looking for fast approval salary loans in the Philippines, there are several lending institutions, government-backed loans, traditional banks and online platforms like Digido, that have earned reputations for their expedited processes.
Disclaimer and Editor’s note


Digido Financial Writers Team is a team of experts in the field of finance and credit, specializing in writing articles for Digido blogs.
Anna Kireeva
Author pages:
Anna is a marketing communications professional who specializes in digital marketing strategies and long-form content.

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