Ever wondered how much you’ll actually receive if you apply for a ₱9,000 SSS Salary Loan — and how much you’ll pay every month? 🤔
Good question — because the amount SSS approves isn’t exactly what you’ll get in your bank. There are a few small deductions like service charge and pro-rated interest before your first payment even begins.
Don’t worry, we’ll make it super simple. In this article, we’ll show you: ✅ How much cash you’ll receive ✅ How to compute your monthly amortization ✅ A full 24-month amortization table (rounded) ✅ What happens if you pay early or late ✅ FAQs every SSS borrower should know
Let’s go through everything step-by-step.
🏦 What Is the SSS Salary Loan?
The SSS Salary Loan is a short-term loan for active members of the Social Security System (SSS). It’s meant to help employees, self-employed, and voluntary members who need extra funds for personal or emergency expenses.
It’s payable in 24 months (2 years) with an 8% annual interest based on a diminishing balance — meaning your interest gets smaller every month as you pay off the loan.
So yes, your monthly payment stays almost the same, but the portion going to interest gets smaller while the portion going to principal gets bigger.
✅ Who Can Apply?
Before applying, make sure you tick all these boxes:
Requirement
Description
Active SSS Membership
Must be an active member with updated contributions
Posted Contributions
At least 36 for a 1-month loan or 72 for a 2-month loan
Recent Payments
6 posted contributions within the last 12 months
Employment/Business Status
Must be currently employed or self-employed
Loan Record
No unpaid or defaulted SSS loan
Employer Compliance
For employees, the employer must be actively remitting contributions
💡 How SSS Calculates Your Salary Loan
Here’s what SSS considers when computing your salary loan:
Component
Description
Interest Rate
8% per annum (based on diminishing principal)
Loan Term
24 months
Service Charge
1% of approved amount, deducted upfront
Pro-Rated Interest
Covers days between loan approval and end of following month
Late Payment Penalty
1% per month on delayed amortization
Payment Method
Automatic salary deduction or manual payment via SSS/Gcash/etc.
🧮 Example: ₱9,000 SSS Salary Loan Approved on March 17, 2025
Let’s compute the actual take-home amount and monthly amortization.
🧾 Step 1: Compute Deductions
Deduction
Formula
Amount
Service Charge (1%)
₱9,000 × 1%
₱90
Pro-Rated Interest (44 days)
8% × ₱9,000 × (44 ÷ 365)
₱87
Total Deductions
₱90 + ₱87
₱177
Net Proceeds
₱9,000 − ₱177
₱8,823
✅ You’ll receive ₱8,823 in your SSS-accredited bank account or via check.
📆 Why 44 days? If your loan is approved on March 17, 2025, SSS charges interest from that date until April 30, 2025 — before your first monthly payment starts in May 2025.
📊 Step 2: Pro-Rated Interest Breakdown
Step
Computation
Result
Annual Interest
8% × ₱9,000
₱720
Daily Interest
₱720 ÷ 365
₱1.97/day
44 Days of Interest
₱1.97 × 44
₱87
✅ So, the ₱87 deduction ensures fair interest coverage for those 44 days before regular payments begin.
Here’s your amortization table with all values rounded to the nearest peso for clarity. The monthly payment is about ₱380 per month.
Month
Beginning Balance
Interest (₱)
Principal (₱)
Payment (₱)
Ending Balance
1
9,000
60
320
380
8,680
2
8,680
58
322
380
8,358
3
8,358
56
324
380
8,034
4
8,034
54
326
380
7,708
5
7,708
51
329
380
7,379
6
7,379
49
331
380
7,048
7
7,048
47
333
380
6,715
8
6,715
45
335
380
6,380
9
6,380
43
337
380
6,043
10
6,043
40
340
380
5,703
11
5,703
38
342
380
5,361
12
5,361
36
344
380
5,017
13
5,017
33
347
380
4,670
14
4,670
31
349
380
4,321
15
4,321
29
351
380
3,970
16
3,970
26
354
380
3,616
17
3,616
24
356
380
3,260
18
3,260
22
358
380
2,902
19
2,902
19
361
380
2,541
20
2,541
17
363
380
2,178
21
2,178
15
365
380
1,813
22
1,813
12
368
380
1,445
23
1,445
10
370
380
1,075
24
1,075
7
373
380
0
✅ Monthly Payment: ₱380 📊 Total Interest Paid: ₱1,120 📈 Total Payable: ₱9,000 + ₱1,120 = ₱10,120
🕒 When Do You Start Paying?
If your loan was approved on March 17, 2025, here’s your timeline:
March 17–April 30, 2025 → Pro-rated interest period (no payments yet)
May 2025 → First payment starts
April 2027 → Final 24th payment
✅ That means you enjoy more than one month of breathing space before deductions start.
⚙️ Payment Methods
You can pay your SSS Salary Loan through:
Automatic salary deduction (for employees)
SSS Branches
GCash or Maya
SSS-approved payment partners
💡 Pro Tip: Always keep your payment receipts. If your employer handles remittance, monitor your SSS Loan Statement online to make sure payments are posted.
💨 Can You Pay Early?
Yes — and it’s a smart move! You can pay in advance or settle your balance in full anytime with no penalty.
Doing so reduces your total interest — you’ll save around ₱400–₱600 if you pay off the balance halfway through.
⚠️ Late Payment? Here’s What Happens
If you miss a payment, SSS adds 1% monthly penalty on the missed amount.
Example: If you skip one ₱380 payment, the penalty is ₱3.80 per month until you catch up.
If you keep missing payments, SSS can:
Deduct it from your future benefits (like maternity or retirement)
It’s helpful if you’re comparing whether to borrow ₱8,000, ₱9,000, or ₱10,000.
💬 Common FAQs
1️⃣ How much will I receive from my ₱9,000 loan? You’ll get ₱8,823 after SSS deducts ₱90 (service charge) and ₱87 (pro-rated interest).
2️⃣ How much will I pay monthly? Your amortization is about ₱380 per month for 24 months.
3️⃣ When does repayment start? If approved on March 17, 2025, your first payment starts in May 2025.
4️⃣ Can I pay early or in full? Yes! You can pay off anytime without penalty. Early payment = less total interest.
5️⃣ What happens if my employer delays payment? Your employer becomes liable for the missed remittance and corresponding penalties. You can file a report with SSS to correct it.
💭 Final Thoughts
Getting a ₱9,000 SSS Salary Loan is a big help when managed wisely. The key is understanding your real take-home, monthly amortization, and interest costs — so you can plan your budget confidently.
✅ Always check your SSS online account for updates ✅ Pay on time to avoid penalties ✅ And if possible, pay early to save more
