This article explains your monthly amortization, actual take-home amount, and how pro-rated interest and service charge affect your cash release. All computations use SSS’s official 8 % annual rate and a 24-month term.
🏦 What Is an SSS Salary Loan?
The SSS Salary Loan helps employed, self-employed, and voluntary members cover personal or emergency expenses. Payments are automatically deducted from your salary or paid via My.SSS if you’re self-employed.
You can apply for:
1-Year Loan – up to 1 month of Average Monthly Salary Credit (AMSC)
2-Year Loan – up to 2 months of AMSC
Since ₱39,000 exceeds ₱25,000, this sample falls under a 2-year loan (24 months).
⚙️ Official Computation Rules (2025)
Rule
Description
Interest Rate
8 % per annum (diminishing balance)
Service Charge
1 % of loan amount (deducted upfront)
Pro-Rated Interest
Interest from approval to end of next month
Loan Term
24 months
Penalty (if late)
1 % per month on overdue payment
Early Repayment
Allowed anytime without penalty
Start of Amortization
Usually 2 months after approval
🧮 Step-by-Step ₱39,000 Computation
Assume approval on March 12 2025 → interest covers March 12 – April 30 (50 days) before amortization begins in May.
🧾 Step 1 – Upfront Deductions
Item
Computation
Amount (₱)
Approved Loan
—
39,000
Service Charge (1 %)
39,000 × 1 %
390
Pro-Rated Interest (50 days)
39,000 × 0.08 × 50 ÷ 365
428
Total Deductions
—
818
Net Proceeds (Take-Home)
39,000 − 818
₱38,182
✅ You’ll receive ₱38,182 after SSS deductions.
🧾 Step 2 – Monthly Amortization
Interest = 8 % / 12 = 0.67 % per month
Term = 24 months
➡️ Monthly Amortization: ₱1,772 ➡️ Total Repayment: ₱42,528 ➡️ Total Interest: ₱3,528 (approx.)
Maria’s loan is auto-deducted via her employer — no manual payment hassle.
🧾 TL;DR Summary
Item
Details
Loan Amount
₱39,000
Service Charge (1 %)
₱390
Pro-Rated Interest (50 days)
₱428
Total Deductions
₱818
Net Proceeds
₱38,182
Monthly Amortization
₱1,772
Total Repayment
₱42,528
Total Interest
₱3,528
Loan Term
24 months
Penalty (if late)
1 % per month
Eligibility
72 contributions (6 recent)
❓ FAQs
1. How much will I actually get from ₱39,000? Around ₱38,182 after the ₱818 total deductions.
2. When do I start paying? Usually the second month after approval (approved in March → first payment in May).
3. Can I pay earlier to save interest? Yes, SSS allows full or advance payment anytime without penalty.
4. What if I miss a payment? A 1 % monthly penalty applies; SSS may deduct the balance from future benefits.
5. When can I renew my loan? After 12 months (half of the term is paid).
🌟 Final Thoughts
A ₱39,000 SSS Salary Loan offers a manageable payment plan with a low 8 % interest rate. After small deductions of ₱818, you’ll take home ₱38,182 and pay ₱1,772 per month for 24 months. It’s affordable, transparent, and auto-deducted — perfect for budget-conscious SSS members.
