₱24,000 SSS Salary Loan Monthly Amortization

₱24,000 SSS Salary Loan Monthly Amortization (2025 Updated Guide)

💬 Introduction

Thinking about getting a ₱24,000 SSS Salary Loan this 2025?
You’re in the right place!

Whether you need extra cash for bills, tuition, or emergencies, the SSS Salary Loan can give you flexible financial breathing room — and it’s easier to pay back than most people think.

In this guide, we’ll break down:
✅ How much you’ll actually receive,
✅ How much you’ll pay monthly,
✅ And your full 24-month amortization schedule (rounded for easy reading).

Let’s make your SSS loan simple, clear, and budget-friendly! 💡

🏦 What Is an SSS Salary Loan?

The SSS Salary Loan is a short-term cash loan offered to employed, self-employed, and voluntary members.
It’s payable within 2 years, with 8% annual interest, deducted monthly through your employer (or via SSS payment partners if self-employed).

This helps members get affordable credit without bank-level requirements or high interest rates.

🧾 Loan Snapshot

Detail	Description
Loan Amount	₱24,000
Interest Rate	8% per annum (diminishing balance)
Loan Term	24 months
Service Charge	1% (₱240)
Pro-Rated Interest (44 days)	₱231
Net Proceeds	₱23,529
Monthly Amortization	₱1,009
Total Interest (Approx.)	₱1,846

👥 Who Can Apply for an SSS Salary Loan?

Requirement	Description
Active Membership	Must be an active SSS member.
Contributions	36 posted (1-year loan) or 72 (2-year loan).
Recent Payments	6 contributions within the last 12 months.
Employment	Employed, self-employed, or voluntary.
Loan Record	No unpaid or delinquent SSS loan.
Employer Status	Employer must be actively remitting.

✅ Tip: Always check your My.SSS online account before applying — incomplete contributions may cause delays.

💰 ₱24,000 Loan Computation

Let’s compute your take-home amount and deductions before release:

Item	Formula	Amount
Loan Amount	—	₱24,000
Service Charge (1%)	₱24,000 × 1%	₱240
Pro-Rated Interest (44 days)	₱24,000 × 8% × 44 ÷ 365	₱231
Total Deductions	₱240 + ₱231	₱471
Net Proceeds	₱24,000 − ₱471	₱23,529

💡 You’ll receive ₱23,529 directly in your registered SSS UMID-ATM or bank account.

📅 Payment Schedule

If approved on March 17, 2025, the pro-rated interest covers March 17 to April 30 (44 days).
Your first monthly payment starts in May 2025, and continues until April 2027.

📊 ₱24,000 SSS Salary Loan Amortization Table (Rounded)

Here’s your 24-month payment schedule, computed at 8% per annum on a diminishing balance, rounded to the nearest peso 👇

Month	Beginning Balance	Interest	Principal	Payment	Ending Balance
1	24,000	160	849	1,009	23,151
2	23,151	154	855	1,009	22,296
3	22,296	149	860	1,009	21,436
4	21,436	143	866	1,009	20,570
5	20,570	137	872	1,009	19,698
6	19,698	131	878	1,009	18,820
7	18,820	125	884	1,009	17,936
8	17,936	120	889	1,009	17,047
9	17,047	114	895	1,009	16,152
10	16,152	108	901	1,009	15,251
11	15,251	102	907	1,009	14,344
12	14,344	96	913	1,009	13,431
13	13,431	90	919	1,009	12,512
14	12,512	84	925	1,009	11,587
15	11,587	77	932	1,009	10,655
16	10,655	71	938	1,009	9,717
17	9,717	65	944	1,009	8,773
18	8,773	59	950	1,009	7,823
19	7,823	52	957	1,009	6,866
20	6,866	46	963	1,009	5,903
21	5,903	39	970	1,009	4,933
22	4,933	33	976	1,009	3,957
23	3,957	26	983	1,009	2,974
24	2,974	20	989	1,009	0

✅ Monthly Payment: ₱1,009
📈 Total Interest: ₱1,846
💰 Total Payable: ₱24,000 + ₱1,846 = ₱25,846

🧮 Pro-Rated Interest Example (44 Days)

Step	Formula	Result
1	₱24,000 × 8% = ₱1,920/year	₱1,920
2	₱1,920 ÷ 365 = ₱5.26/day	₱5.26/day
3	₱5.26 × 44 days =	₱231

💡 This ₱231 is deducted upfront before loan release — covering the interest between approval (March 17) and first payment (May).

⚠️ Late Payment Penalty

If you miss a payment, SSS charges 1% per month on the unpaid amount.
Example: ₱1,009 × 1% = ₱10 penalty per month delayed.

To avoid penalties, enroll in auto-payroll deduction or pay ahead via SSS-approved channels.

💨 Early Payment Option

You can fully settle your loan anytime — no penalty!
This reduces interest and helps you qualify faster for renewal.

🧾 TL;DR Summary

Item	Description	Amount
Loan Amount	₱24,000
Service Charge (1%)	₱240
Pro-Rated Interest (44 days)	₱231
Net Proceeds	₱23,529
Monthly Amortization	₱1,009
Total Interest	₱1,846
Total Payable	₱25,846
Loan Term	24 months
Interest Rate	8% per annum

🧮 Try the SSS Salary Loan Calculator

Check your own figures instantly with the
👉 SSS Salary Loan Calculator

You’ll see your take-home amount, monthly payment, and interest details instantly — just type your desired loan amount!

💬 FAQs

1️⃣ How much will I receive from ₱24,000?
You’ll get around ₱23,529 after deductions.

2️⃣ How much will I pay monthly?
You’ll pay ₱1,009 per month for 24 months.

3️⃣ When will payments start?
Usually two months after loan approval.

4️⃣ Can I pay earlier than schedule?
Yes — no penalties for early or full payment!

5️⃣ What happens if I miss a payment?
A 1% monthly penalty applies, and it can affect your next loan eligibility.

💭 Final Thoughts

A ₱24,000 SSS Salary Loan gives you the right balance of cash flexibility and affordable monthly payments.
With ₱1,009 per month, it’s manageable even for budget-conscious members.

Always remember:
✅ Keep contributions updated
✅ Pay on time
✅ And use the SSS Salary Loan Calculator to plan your budget wisely.

This ensures you stay loan-eligible and financially confident every step of the way.