If you’re planning to borrow ₱28,000 from your SSS Salary Loan this 2025, one of the first questions that pops into mind is — “Magkano kaya hulog ko kada buwan?” 🤔
Don’t worry — in this article, we’ll break down your monthly amortization, explain all the deductions, and even show you the exact amortization table for your ₱28,000 SSS Salary Loan (rounded to the nearest peso).
Whether you’re a first-time borrower or just checking your loan options, this guide will walk you through everything — step-by-step, in simple language.
🏦 What Is an SSS Salary Loan?
The SSS Salary Loan is a short-term cash loan offered to employed, self-employed, or voluntary members of the Social Security System (SSS).
It’s designed to help members during urgent financial needs — for example, emergency expenses, tuition, or home repairs — while paying it back through small monthly deductions from your salary.
👩💼 Who Can Apply for the SSS Salary Loan?
To qualify, you must meet the following requirements:
Type
Requirement
For 1-year loan
At least 36 posted contributions (6 within the last 12 months)
For 2-year loan
At least 72 posted contributions (6 within the last 12 months)
Employment status
Must be currently employed, self-employed, or voluntary with updated SSS payments
Existing loans
No overdue SSS loan
Employer
Must be updated in SSS contribution remittance
🧮 How Much Can You Borrow?
SSS allows:
1-month loan: Up to one month of your Average Monthly Salary Credit (AMSC)
2-month loan: Up to two months of your AMSC capped at ₱50,000.
Your ₱28,000 loan most likely falls under a 2-year loan term (24 months), since it exceeds ₱25,000.
💡 Deductions and Computation Breakdown
Let’s compute your ₱28,000 SSS Salary Loan step by step:
Description
Computation
Amount
Approved Loan Amount
—
₱28,000
Service Charge (1%)
1% × ₱28,000
₱280
Pro-rated Interest (44 days)
8% annual ÷ 365 × 44 × ₱28,000
₱270 (approx.)
Net Loan Proceeds
₱28,000 − ₱280 − ₱270
₱27,450
📌 You’ll receive around ₱27,450 in your account after deductions.
Regular amortizations start on the second month after approval — for example, if approved on March 17, your first payment will be due in May.
Below is your complete rounded amortization schedule using 8% annual interest on a diminishing balance basis.
Month
Payment
Interest
Principal
Remaining Balance
1
₱1,584
₱187
₱1,397
₱26,603
2
₱1,584
₱177
₱1,407
₱25,196
3
₱1,584
₱168
₱1,416
₱23,780
4
₱1,584
₱159
₱1,425
₱22,355
5
₱1,584
₱149
₱1,435
₱20,920
6
₱1,584
₱140
₱1,444
₱19,476
7
₱1,584
₱130
₱1,454
₱18,022
8
₱1,584
₱120
₱1,464
₱16,558
9
₱1,584
₱110
₱1,474
₱15,084
10
₱1,584
₱101
₱1,483
₱13,601
11
₱1,584
₱91
₱1,493
₱12,108
12
₱1,584
₱81
₱1,503
₱10,605
13
₱1,584
₱71
₱1,513
₱9,092
14
₱1,584
₱61
₱1,523
₱7,569
15
₱1,584
₱51
₱1,533
₱6,036
16
₱1,584
₱40
₱1,544
₱4,492
17
₱1,584
₱30
₱1,554
₱2,938
18
₱1,584
₱20
₱1,564
₱1,374
19
₱1,584
₱9
₱1,575
₱0
(Rounded to nearest peso — total 24 months)
💡 Monthly Amortization: ₱1,584 🕒 Loan Term: 24 months 💰 Total Payments: ₱38,016 💸 Total Interest Paid: Around ₱1,950
📆 Example: Pro-rated Interest if Approved on March 17
Let’s calculate your 44-day pre-interest for ₱28,000:
Days covered: 14 days (March 17–31) + 30 days (April) = 44 days
Annual interest: 8% of ₱28,000 = ₱2,240/year
Daily interest: ₱2,240 ÷ 365 = ₱6.14/day
Multiply by 44 days = ₱270
✅ ₱270 is deducted upfront from your loan proceeds before it’s credited. Your first payment starts in May — by then, interest will only apply monthly on the remaining balance.
🧾 TL;DR Summary
Item
Amount
Loan Amount
₱28,000
Service Charge (1%)
₱280
Pro-rated Interest (44 days)
₱270
Net Proceeds
₱27,450
Monthly Amortization
₱1,584
Loan Term
24 months
Annual Interest Rate
8% diminishing
First Payment
2nd month after approval
💬 Frequently Asked Questions (FAQs)
1. Can I apply for another SSS loan while paying this one? No. You must fully pay your existing SSS salary loan before applying again.
2. What happens if my employer forgets to remit my payments? You can report it to SSS. The employer is responsible for remitting deductions promptly.
3. Can I pay my loan early? Yes, you can pay in advance or settle in full anytime without penalties.
4. What if I miss one month of payment? A 1% monthly penalty will apply on the missed amortization until payment is updated.
5. How can I check my loan balance online? Log in to your My.SSS account to view your current loan balance, amortization schedule, and payment history.
🧮 Try the SSS Salary Loan Calculator!
Want to compute your own estimate? 👉 Use the SSS Salary Loan Calculator to know how much you can borrow and what your monthly payments will be.
🏁 Final Thoughts
If you’re planning to borrow ₱28,000 from your SSS, it’s a manageable loan that spreads out over 24 months — with around ₱1,584 due monthly.
It’s perfect for small emergencies or household needs, especially since you can pay early anytime without penalties.
Always remember — your SSS loan is a tool for convenience, not long-term debt. Use it wisely and keep your payments consistent so you stay in good standing for future loans.
