Thinking about applying for a ₱20,000 SSS Salary Loan? Whether it’s for school expenses, home repairs, or emergency needs — understanding how much you’ll pay monthly helps you budget wisely.
This article gives you the complete ₱20,000 SSS Salary Loan amortization breakdown, how much you’ll actually receive, your monthly payment amount, and key eligibility rules.
Let’s make your SSS loan decision smarter and stress-free. 💡
🏦 What Is the SSS Salary Loan?
The SSS Salary Loan is one of the easiest government loans you can get as an active member. It’s short-term, low-interest (only 8% per year), and automatically deducted from your salary if you’re employed — or payable online for self-employed or voluntary members.
📋 Loan Overview
Detail
Description
Loan Amount
₱20,000
Interest Rate
8% per annum (diminishing balance)
Loan Term
24 months
Service Charge
1% (₱200)
Pro-Rated Interest (44 days)
₱193
Net Proceeds
₱19,607
Monthly Amortization
₱842
Total Interest (Approx.)
₱1,360
👥 Who Can Apply for an SSS Salary Loan?
Requirement
Description
Active Membership
At least 36 posted contributions for a 1-month loan, 72 for a 2-month loan.
Recent Contributions
6 posted within the last 12 months before applying.
Employment Status
Must be actively employed, self-employed, or voluntary.
Loan History
No existing delinquent or defaulted SSS loans.
Employer Compliance
Employer must be remitting contributions regularly.
✅ Tip: Log in to your My.SSS account to verify contributions and eligibility before applying.
💵 ₱20,000 Loan Breakdown
When your ₱20,000 loan is approved, here’s how the computation looks:
Item
Description
Amount
Loan Amount
Approved principal
₱20,000
Service Charge (1%)
₱200
Pro-Rated Interest (44 days)
₱193
Total Deductions
₱393
Net Proceeds
₱19,607
💡 This means the actual amount you’ll receive in your bank account is ₱19,607, not the full ₱20,000.
📆 When Does Payment Start?
If your loan was approved on March 17, 2025, your first amortization will start in May 2025. The first 44 days (March 17–April 30) are covered by your pro-rated interest.
Here’s your complete 24-month amortization schedule, rounded to the nearest peso.
Month
Beginning Balance
Interest
Principal
Payment
Ending Balance
1
20,000
133
709
842
19,291
2
19,291
129
713
842
18,578
3
18,578
124
718
842
17,860
4
17,860
119
723
842
17,137
5
17,137
114
728
842
16,409
6
16,409
109
733
842
15,676
7
15,676
105
737
842
14,939
8
14,939
100
742
842
14,197
9
14,197
95
747
842
13,450
10
13,450
90
752
842
12,698
11
12,698
85
757
842
11,941
12
11,941
80
762
842
11,179
13
11,179
75
767
842
10,412
14
10,412
69
773
842
9,639
15
9,639
64
778
842
8,861
16
8,861
59
783
842
8,078
17
8,078
54
788
842
7,290
18
7,290
49
793
842
6,497
19
6,497
43
799
842
5,698
20
5,698
38
804
842
4,894
21
4,894
33
809
842
4,085
22
4,085
27
815
842
3,270
23
3,270
22
820
842
2,450
24
2,450
16
826
842
0
✅ Monthly Payment: ₱842 📈 Total Interest: ₱1,360 💰 Total Payable: ₱20,360
🧮 Pro-Rated Interest (44 Days)
Let’s see how SSS computes your 44-day interest before the first amortization:
Step
Formula
Result
1
₱20,000 × 8% = ₱1,600/year
₱1,600
2
₱1,600 ÷ 365 = ₱4.38/day
₱4.38/day
3
₱4.38 × 44 days
₱193 (rounded)
✅ ₱193 is deducted upfront before your first payment starts in May.
🗓️ Example Payment Timeline
Period
Description
March 17 – April 30, 2025
Pro-rated interest coverage
May 2025
First payment (₱842)
April 2027
Final payment (₱842)
⚠️ Late Payment Penalty
If you miss a payment, SSS will charge 1% per month based on your unpaid amortization. Example: ₱842 × 1% = ₱8.42 penalty per month.
Avoid this by paying on time or setting up automatic deductions through your employer.
💨 Paying Early?
Yes, you can settle early or pay in advance anytime — without penalties. This reduces your total interest and improves your eligibility for future SSS loans.
🧾 TL;DR Summary
Item
Description
Amount
Loan Amount
₱20,000
Service Charge (1%)
₱200
Pro-Rated Interest (44 days)
₱193
Net Proceeds
₱19,607
Monthly Amortization
₱842
Total Interest (Approx.)
₱1,360
Total Payable
₱20,360
Loan Term
24 months
Interest Rate
8% per annum
🧮 Try the Official Calculator
Use the SSS Salary Loan Calculator to verify your amortization, total payable, and loan take-home amount. It’s simple, accurate, and mobile-friendly.
💬 FAQs
1️⃣ How much will I receive for a ₱20,000 SSS loan? You’ll get around ₱19,607 after service charge and interest deductions.
2️⃣ How much is the monthly amortization? ₱842 per month for 24 months.
3️⃣ When will payments start? Usually two months after approval (e.g., March → May).
4️⃣ What happens if I miss a payment? SSS adds a 1% monthly penalty and may deduct from future benefits.
5️⃣ Can I renew my salary loan? Yes — once you’ve paid at least 50% of your existing loan balance.
💭 Final Thoughts
The ₱20,000 SSS Salary Loan gives you a convenient and affordable option to cover short-term financial needs. With a low ₱842 monthly payment, it’s budget-friendly and flexible.
✅ Always check your My.SSS account before applying. ✅ Use the SSS Salary Loan Calculator to plan your budget. ✅ Pay on time and enjoy continuous access to SSS benefits.
With SSS, small loans can create big relief — responsible borrowing starts here.
