Applying for an ₱11,000 SSS Salary Loan? You’re in the right place. Whether you’re a first-time borrower or planning to renew your salary loan, this guide will show you exactly how much you’ll receive, how much you’ll pay monthly, and how SSS computes your amortization.
Let’s break it down clearly — walang jargon, walang confusion.
🏦 What Is the SSS Salary Loan?
The SSS Salary Loan is one of the most popular benefits available to active members. It’s designed to provide short-term financial assistance with a low 8% annual interest rate, computed on a diminishing balance.
This means every month, you pay a fixed amount, but your interest gradually decreases — and a bigger portion of your payment goes toward the principal.
✅ Who Can Apply for the SSS Salary Loan?
Before applying, make sure you meet the following requirements:
Requirement
Details
Membership
Must be an active SSS member
Posted Contributions
At least 36 posted for 1-month loan; 72 for 2-month loan
Recent Contributions
6 posted within the last 12 months
Loan Record
No existing unpaid or defaulted SSS loan
Employment Status
Currently employed or self-employed with updated remittances
Employer Compliance
Employer must be regularly remitting contributions
💡 Quick Summary of ₱11,000 Loan Terms
Term
Details
Loan Amount
₱11,000
Interest Rate
8% per annum (diminishing balance)
Loan Term
24 months
Service Charge
1% of the approved loan
Pro-Rated Interest
44 days upfront interest deducted
Late Penalty
1% per month on unpaid amortization
Payment Start
Two months after approval date
🧾 Step-by-Step Computation Example
Let’s say your ₱11,000 loan was approved on March 17, 2025.
Step 1: Compute Deductions
Deduction
Formula
Amount
Service Charge (1%)
₱11,000 × 1%
₱110
Pro-Rated Interest (44 days)
8% × ₱11,000 × (44 ÷ 365)
₱105
Total Deductions
₱110 + ₱105
₱215
Net Proceeds
₱11,000 − ₱215
₱10,785
✅ You’ll receive ₱10,785 after deductions.
Step 2: Pro-Rated Interest Explained
Interest is computed from March 17 to April 30 (44 days) before amortization begins in May 2025.
This table assumes a 24-month loan at 8% interest per year on diminishing balance. Each payment is ₱465 per month (rounded).
Month
Beginning Balance
Interest (₱)
Principal (₱)
Payment (₱)
Ending Balance (₱)
1
11,000
73
392
465
10,608
2
10,608
71
394
465
10,214
3
10,214
68
397
465
9,817
4
9,817
65
400
465
9,417
5
9,417
63
402
465
9,015
6
9,015
60
405
465
8,610
7
8,610
57
408
465
8,202
8
8,202
55
410
465
7,792
9
7,792
52
413
465
7,379
10
7,379
49
416
465
6,963
11
6,963
46
419
465
6,544
12
6,544
44
421
465
6,123
13
6,123
41
424
465
5,699
14
5,699
38
427
465
5,272
15
5,272
35
430
465
4,842
16
4,842
32
433
465
4,409
17
4,409
29
436
465
3,973
18
3,973
27
438
465
3,535
19
3,535
24
441
465
3,094
20
3,094
21
444
465
2,650
21
2,650
18
447
465
2,203
22
2,203
15
450
465
1,753
23
1,753
12
453
465
1,300
24
1,300
9
456
465
0
✅ Monthly Payment: ₱465 📊 Total Interest Paid: ₱1,241 📈 Total Payable: ₱11,000 + ₱1,241 = ₱12,241
🗓️ Payment Schedule Example
If your loan was approved on March 17, 2025:
March 17–April 30: Pro-rated interest period (₱105 upfront)
May 2025: First amortization ₱465
April 2027: Last payment ₱465
🏧 How to Pay Your SSS Salary Loan
You can pay through the following channels:
Automatic salary deduction (for employees)
SSS Branches nationwide
GCash / Maya / Bayad Center / SM Bills Payment
UnionBank and other partner banks
💡 Always check your SSS Online account to verify posted payments.
💨 Early Repayment Tip
Good news — you can pay anytime in advance or fully settle your loan without penalties! This can help you save several hundred pesos in total interest.
⚠️ Late Payment Reminder
If you delay your payment, a 1% penalty per month applies to your unpaid amortization. For example, if you miss one ₱465 payment → ₱4.65 penalty per month until paid.
🧾 TL;DR Summary
Item
Details
Loan Amount
₱11,000
Service Charge (1%)
₱110
Pro-Rated Interest (44 days)
₱105
Net Proceeds
₱10,785
Interest Rate
8% p.a.
Loan Term
24 months
Monthly Payment
₱465
Total Interest Paid
₱1,241
Total Payable
₱12,241
🧮 Try the Calculator
Want to check your own computation or compare loan amounts (₱5,000–₱25,000)? Use the SSS Salary Loan Calculator to see your estimated monthly payment and take-home loan instantly.
💬 Frequently Asked Questions (FAQs)
1️⃣ How much will I get for a ₱11,000 SSS loan? You’ll receive around ₱10,785 after deductions.
2️⃣ How much is the monthly amortization? ₱465 per month for 24 months.
3️⃣ When will payments start? Two months after approval (e.g., approved March → first payment May).
4️⃣ What happens if I miss a payment? You’ll incur a 1% monthly penalty and your future SSS benefits may be used to offset the unpaid balance.
5️⃣ Can I pay in advance or fully settle my loan? Yes! You can pay anytime without penalty and even save money on interest.
💭 Final Thoughts
Your ₱11,000 SSS Salary Loan is more than just cash in hand — it’s a small financial tool that can help during tight times, with a fair 8% annual rate and flexible terms.
If you understand your amortization schedule, you’ll manage your finances confidently and keep your SSS record clean — ready for your next loan or benefit claim.
