₱31,000 SSS Salary Loan Monthly Amortization

₱31,000 SSS Salary Loan Monthly Amortization (2025 Updated Guide)

Thinking about applying for a ₱31,000 SSS Salary Loan? This guide breaks down how much you’ll actually pay every month, how SSS computes your interest, and how much you’ll receive after deductions — explained in simple terms with a full amortization table.

Whether you’re a first-time borrower or renewing your loan, this updated 2025 guide will help you understand exactly how the SSS Salary Loan works.

🏦 What Is an SSS Salary Loan?

The SSS Salary Loan is a cash loan available to active SSS members who need short-term financial help — for emergencies, bills, tuition, or personal needs.

It’s repaid in monthly installments deducted from your salary (if employed) or paid directly (if self-employed or voluntary).

✅ Interest Rate: 8% per year
✅ Loan Term: 24 months (2 years)
✅ Service Charge: 1% deducted upfront
✅ Payment: Starts on the second month after approval

👩‍💼 Who Can Apply for a Salary Loan?

Category	Qualification
1-Year Loan	At least 36 posted contributions (6 within the last 12 months)
2-Year Loan	At least 72 posted contributions (6 within the last 12 months)
Employment Status	Employed, self-employed, or voluntary with updated contributions
Loan Record	No existing overdue or defaulted SSS loan
Employer Compliance	Employer must be updated with SSS remittances

💡 Tip: Your employer handles salary deductions automatically — no need to go to the branch for monthly payments.

💰 Computation of a ₱31,000 SSS Salary Loan

Description	Computation	Amount
Approved Loan Amount	—	₱31,000
Service Charge (1%)	₱31,000 × 1%	₱310
Pro-rated Interest (44 days)	8% ÷ 365 × 44 × ₱31,000	₱299
Net Loan Proceeds	₱31,000 − ₱310 − ₱299	₱30,391

📌 You’ll receive around ₱30,391 credited to your bank account or check after deductions.
The first amortization begins in May 2025 (if approved March 17, 2025).

📆 PHP 31,000 SSS Salary Loan Monthly Amortization Table (24 Months)

Below is the full amortization schedule at 8% interest, rounded to the nearest peso.

Month	Payment	Interest	Principal	Remaining Balance
1	₱1,757	₱207	₱1,550	₱29,450
2	₱1,757	₱197	₱1,560	₱27,890
3	₱1,757	₱186	₱1,571	₱26,319
4	₱1,757	₱175	₱1,582	₱24,737
5	₱1,757	₱165	₱1,592	₱23,145
6	₱1,757	₱154	₱1,603	₱21,542
7	₱1,757	₱143	₱1,614	₱19,928
8	₱1,757	₱133	₱1,624	₱18,304
9	₱1,757	₱122	₱1,635	₱16,669
10	₱1,757	₱111	₱1,646	₱15,023
11	₱1,757	₱100	₱1,657	₱13,366
12	₱1,757	₱89	₱1,668	₱11,698
13	₱1,757	₱78	₱1,679	₱10,019
14	₱1,757	₱67	₱1,690	₱8,329
15	₱1,757	₱56	₱1,701	₱6,628
16	₱1,757	₱44	₱1,713	₱4,915
17	₱1,757	₱33	₱1,724	₱3,191
18	₱1,757	₱21	₱1,736	₱1,455
19	₱1,757	₱10	₱1,747	₱0

✅ Monthly Amortization: ₱1,757
✅ Loan Term: 24 months
✅ Total Payments: ₱42,168
✅ Total Interest Paid: ~₱2,868

📊 Example: Pro-Rated Interest (Approved March 17)

Let’s compute your pro-rated interest if your ₱31,000 loan was approved on March 17, 2025.

Step-by-step:
1️⃣ Days covered = 14 (March 17–31) + 30 (April) = 44 days
2️⃣ Annual Interest = ₱31,000 × 8% = ₱2,480
3️⃣ Daily Interest = ₱2,480 ÷ 365 = ₱6.79
4️⃣ Multiply by 44 days = ₱299

📌 ₱299 is deducted from your loan proceeds upfront.
Your first amortization starts May 2025, covering only the remaining balance.

🧾 TL;DR Summary

Item	Amount
Loan Amount	₱31,000
Service Charge	₱310
Pro-rated Interest	₱299
Net Loan Proceeds	₱30,391
Monthly Payment	₱1,757
Loan Term	24 months
Annual Interest	8% diminishing
First Payment	2nd month after approval

💬 FAQs About ₱31,000 SSS Salary Loan

1. How much can I loan from SSS?
You can borrow up to two times your average monthly salary credit (AMSC), capped at ₱50,000.

2. When will I receive the loan?
Usually within 3–5 working days if your employer is compliant and your My.SSS bank account is enrolled.

3. What happens if I miss a payment?
A 1% monthly penalty is added on the unpaid amount until settled.

4. Can I renew my salary loan?
Yes, after paying at least 50% of the loan and completing 12 months of amortizations.

5. Can I pay my loan earlier?
Yes, early repayment is allowed without penalties — it even helps reduce your interest cost.

🧮 Try the SSS Salary Loan Calculator

Want to double-check your own loan computation?
👉 Visit the SSS Salary Loan Calculator to see your monthly payments based on your loan amount and term.