If you’re planning to apply for a ₱10,000 SSS Salary Loan, one of the most important things to know is: how much will you actually receive, and how much will you pay every month?
This guide will break down everything clearly — from real take-home amount to monthly amortization — with a full 24-month amortization schedule rounded to the nearest peso. Whether you’re an employee or self-employed, this article will help you understand exactly how your SSS loan is computed and how much interest you’ll pay.
🏦 What Is the SSS Salary Loan?
The SSS Salary Loan is a short-term, low-interest loan offered by the Social Security System (SSS) to provide financial help to active members. It’s payable in 24 equal monthly installments, with an 8% annual interest rate based on the diminishing principal balance.
That means your interest gradually decreases as you repay the loan — so more of your payment goes toward reducing your balance every month.
✅ Who Is Eligible for the SSS Salary Loan?
Before applying, make sure you meet the following qualifications:
Requirement
Description
Membership
Active SSS member (employed, self-employed, or voluntary)
Posted Contributions
At least 36 posted for a 1-month loan, 72 for a 2-month loan
Recent Contributions
6 posted within the last 12 months
Loan Record
No unpaid or defaulted salary loan
Employment Status
Currently employed or self-employed with updated remittances
Employer Compliance
Employer must be actively remitting SSS contributions
💡 Quick Overview: ₱10,000 Salary Loan Terms
Term
Details
Loan Amount
₱10,000
Interest Rate
8% per annum (based on diminishing principal)
Loan Term
24 months
Service Charge
1% of approved amount
Pro-Rated Interest
Deducted upfront for 44 days before amortization begins
Late Penalty
1% per month on delayed payment
Start of Payment
2nd month after approval (usually the next month after full month coverage)
🧾 Example: ₱10,000 SSS Loan Approved on March 17, 2025
Let’s compute your take-home loan amount and the actual monthly amortization.
Step 1: Compute Deductions
Deduction
Formula
Amount
Service Charge (1%)
₱10,000 × 1%
₱100
Pro-Rated Interest (44 days)
8% × ₱10,000 × (44 ÷ 365)
₱96
Total Deductions
₱100 + ₱96
₱196
Net Proceeds
₱10,000 − ₱196
₱9,804
✅ You’ll receive ₱9,804 after SSS deducts the service charge and pre-interest for 44 days.
📅 Why 44 days? If your loan is approved on March 17, 2025, SSS computes interest from that date until April 30, 2025 — before the first monthly payment starts in May 2025.
🧮 Step 2: Pro-Rated Interest Breakdown
Step
Computation
Result
Annual Interest
8% × ₱10,000
₱800/year
Daily Interest
₱800 ÷ 365
₱2.19/day
44 Days of Interest
₱2.19 × 44
₱96
✅ So ₱96 is deducted upfront to cover that pre-amortization period.
The table below shows your monthly payments over 24 months, using 8% annual interest on a diminishing balance. Each payment is ₱423 per month (rounded to the nearest peso).
Month
Beginning Balance
Interest (₱)
Principal (₱)
Payment (₱)
Ending Balance (₱)
1
10,000
67
356
423
9,644
2
9,644
64
359
423
9,285
3
9,285
62
361
423
8,924
4
8,924
60
363
423
8,561
5
8,561
57
366
423
8,195
6
8,195
55
368
423
7,827
7
7,827
52
371
423
7,456
8
7,456
50
373
423
7,083
9
7,083
47
376
423
6,707
10
6,707
45
378
423
6,329
11
6,329
42
381
423
5,948
12
5,948
40
383
423
5,565
13
5,565
37
386
423
5,179
14
5,179
35
388
423
4,791
15
4,791
32
391
423
4,400
16
4,400
29
394
423
4,006
17
4,006
27
396
423
3,610
18
3,610
24
399
423
3,211
19
3,211
21
402
423
2,809
20
2,809
19
404
423
2,405
21
2,405
16
407
423
1,998
22
1,998
13
410
423
1,588
23
1,588
11
412
423
1,176
24
1,176
8
415
423
0
✅ Monthly Payment: ₱423 📊 Total Interest Paid: ₱1,152 📈 Total Payable: ₱10,000 + ₱1,152 = ₱11,152
📆 When Does Repayment Start?
If approved on March 17, 2025:
March 17–April 30, 2025: Pro-rated interest period (₱96 upfront)
May 2025: First amortization (₱423)
April 2027: Final payment
So, your actual repayment runs 24 months starting from May 2025.
🏧 Payment Channels
You can pay through:
Automatic Salary Deduction (for employed members)
SSS Branches
GCash or Maya
SSS Payment Partners (e.g., Bayad Center, SM Bills Payment)
💡 Always check your online SSS account to confirm that your employer has remitted your payment.
💨 Paying Early Saves You Money!
You can pay in full or advance anytime without penalty. This helps reduce total interest and can save you ₱300–₱600 overall if paid ahead by 12 months or more.
⚠️ Missed Payment? Be Careful!
If you miss your due date, a 1% monthly penalty applies to your unpaid amortization. For example:
Missed ₱423 → Penalty ₱4.23/month If you skip several months, SSS can deduct unpaid loans from future benefits (e.g., maternity, sickness, or retirement).
🧾 TL;DR Summary
Item
Details
Loan Amount
₱10,000
Service Charge (1%)
₱100
Pro-Rated Interest (44 days)
₱96
Net Proceeds
₱9,804
Interest Rate
8% per annum
Loan Term
24 months
Monthly Payment
₱423
Total Interest Paid
₱1,152
Total Payable
₱11,152
🧮 Try It Yourself
Want to check other amounts like ₱8,000 or ₱15,000? Use the official SSS Salary Loan Calculator here: 👉 SSS Salary Loan Calculator
It automatically computes your amortization, net proceeds, and deductions.
💬 Frequently Asked Questions (FAQs)
1️⃣ How much will I receive from my ₱10,000 loan? You’ll receive around ₱9,804, after SSS deducts ₱100 (service charge) and ₱96 (pro-rated interest).
2️⃣ How much is the monthly payment? ₱423 per month for 24 months.
3️⃣ When do I start paying? Two months after approval. If approved March 17, 2025, first payment is in May 2025.
4️⃣ Can I pay early? Yes, and you’ll save on total interest — no penalty for early settlement.
5️⃣ What if my employer fails to remit my payment? Your employer becomes liable and may face penalties from SSS. Always monitor your SSS Loan Statement online.
💭 Final Thoughts
A ₱10,000 SSS Salary Loan is a great financial lifeline — especially when you understand the real numbers behind it.
Always remember:
Net proceeds ≠ approved loan (because of small deductions)
Amortization ≈ ₱423/month
Paying on time keeps your SSS record clean
Paying early helps you save more
And if you want to explore other loan amounts — from ₱5,000 up to ₱25,000 — you can check real-time figures using the 👉 SSS Salary Loan Calculator
Understanding your amortization helps you budget better, stay financially responsible, and maximize your SSS benefits.
