If you’re planning to apply for an SSS Salary Loan this year, it’s always a good move to know exactly how much you’ll pay every month — and how much you’ll actually receive after deductions.
So, if you’re thinking about borrowing ₱14,000, this guide gives you everything: 👉 the real take-home amount, 👉 the monthly amortization, and 👉 a complete 24-month payment table — all explained in a simple, friendly tone.
Let’s dive in!
🏦 What Is the SSS Salary Loan?
The SSS Salary Loan is one of the most helpful financial benefits for members of the Social Security System (SSS).
It’s a short-term loan with an 8% annual interest rate based on a diminishing balance. That means your interest goes down every month as your principal decreases.
You can pay it off through salary deductions, the SSS Mobile App, or partner payment channels — making it convenient and flexible.
👥 Who Can Apply?
Here’s a quick summary of who’s eligible for an SSS Salary Loan:
Requirement
Description
Active SSS Member
Employed, self-employed, or voluntary
36 Contributions
Minimum for a 1-month loan
72 Contributions
Minimum for a 2-month loan
Recent Contributions
6 within the last 12 months
No Unpaid SSS Loan
No past due or defaulted loans
Employer Compliance
Employer must be actively remitting SSS payments
💡 Quick Overview
Item
Details
Loan Amount
₱14,000
Loan Term
24 months
Interest Rate
8% per annum
Service Charge
1% (₱140)
Pro-Rated Interest
44 days (₱136)
Monthly Payment
₱590
Total Payable
₱14,160 (approx.)
🧾 Step-by-Step Loan Computation
Let’s say your loan was approved on March 17, 2025.
Step 1: Deductions
Deduction
Formula
Amount
Service Charge (1%)
₱14,000 × 1%
₱140
Pro-Rated Interest (44 days)
₱14,000 × 8% × (44 ÷ 365)
₱136
Total Deductions
₱140 + ₱136
₱276
Net Proceeds
₱14,000 − ₱276
₱13,724
💰 You’ll receive ₱13,724 in your SSS-accredited bank or check.
📅 Step 2: Understanding Pro-Rated Interest
If your loan is approved on the 17th of March, SSS will charge you interest from March 17 to April 30 (44 days). This covers the time before your first monthly amortization in May.
Here’s how it’s computed:
Step
Computation
Result
Annual Interest
₱14,000 × 8% = ₱1,120 per year
Daily Interest
₱1,120 ÷ 365 = ₱3.07/day
44-Day Interest
₱3.07 × 44 = ₱136
That ₱136 is deducted upfront — a small, fair adjustment before your regular monthly payments begin.
Your monthly amortization is ₱590 for 24 months. Below is your amortization schedule, rounded to the nearest peso:
Month
Beginning Balance
Interest
Principal
Payment
Ending Balance
1
14,000
93
497
590
13,503
2
13,503
90
500
590
13,003
3
13,003
87
503
590
12,500
4
12,500
83
507
590
11,993
5
11,993
80
510
590
11,483
6
11,483
77
513
590
10,970
7
10,970
73
517
590
10,453
8
10,453
70
520
590
9,933
9
9,933
66
524
590
9,409
10
9,409
63
527
590
8,882
11
8,882
59
531
590
8,351
12
8,351
56
534
590
7,817
13
7,817
52
538
590
7,279
14
7,279
49
541
590
6,738
15
6,738
45
545
590
6,193
16
6,193
41
549
590
5,644
17
5,644
38
552
590
5,092
18
5,092
34
556
590
4,536
19
4,536
30
560
590
3,976
20
3,976
27
563
590
3,413
21
3,413
23
567
590
2,846
22
2,846
19
571
590
2,275
23
2,275
15
575
590
1,700
24
1,700
11
579
590
0
✅ Monthly Payment: ₱590 📈 Total Interest Paid: ₱1,160 (approx.) 📊 Total Payable: ₱14,160
🗓️ Example Payment Timeline
Period
Description
March 17 – April 30, 2025
Pro-rated interest period (₱136 upfront)
May 2025
First monthly amortization
April 2027
Final payment (Month 24)
💳 How to Pay Your SSS Loan
You can pay through: ✅ Automatic payroll deduction (for employees) ✅ My.SSS Portal (via GCash, Maya, or BPI) ✅ SSS Mobile App ✅ SSS-accredited partners like Bayad Center or SM Bills Payment
💡 Pro Tip: Always check your payment posting in your My.SSS account to make sure it’s updated — especially if you pay through third-party channels.
💨 Can I Pay Early?
Yes, you can! 🎉 You may settle your SSS Salary Loan in full or in advance anytime. The good news? There are no penalties for early payment — and you’ll save a bit on interest too.
⚠️ What If I Miss a Payment?
Missed payments get a 1% monthly penalty based on your unpaid amortization. For example, ₱590 × 1% = ₱5.90 per month penalty.
Consistent payments not only keep your account in good standing but also make you eligible for future SSS benefits faster (like another loan or maternity benefit).
🧾 TL;DR Summary
Item
Details
Loan Amount
₱14,000
Service Charge (1%)
₱140
Pro-Rated Interest (44 days)
₱136
Net Proceeds
₱13,724
Monthly Amortization
₱590
Loan Term
24 months
Interest Rate
8% per annum
Total Interest Paid
₱1,160
Total Payable
₱14,160
🧮 Try the SSS Salary Loan Calculator
Want to see how much you can borrow — or how your amortization changes if you borrow more? Try the official SSS Salary Loan Calculator to get your estimated loan breakdown instantly.
💬 Frequently Asked Questions (FAQs)
1️⃣ How much will I actually receive from a ₱14,000 loan? You’ll receive around ₱13,724 after SSS deducts the service charge and pro-rated interest.
2️⃣ How much is the monthly payment for ₱14,000? You’ll pay ₱590 per month for 24 months.
3️⃣ When does repayment start? Usually two months after approval. If your loan was approved in March, your first due date will be in May.
4️⃣ Can I renew my SSS loan before I finish paying? Yes, once you’ve paid at least 50% of the principal and all interest.
5️⃣ What happens if my employer doesn’t remit my deductions? You’ll need to coordinate with your HR or file a report with SSS, as missing remittances may affect your loan records.
💭 Final Thoughts
The ₱14,000 SSS Salary Loan is perfect for members who need a manageable, low-interest financial boost. With only ₱590 monthly payments, you can stretch your budget without stress — especially if you plan ahead.
