How Can I See My Monthly Amortization Schedule in the SSS Loan Statement?
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How Can I See My Monthly Amortization Schedule in the SSS Loan Statement?
If you recently got approved for an SSS Salary Loan, congratulations! 🎉 Pero after that, you might be wondering: “Paano ko malalaman kung magkano ang babayaran ko bawat buwan?” or “Saan ko makikita yung monthly amortization schedule ko?”
Don’t worry — you’re not alone. Many members get confused when checking their SSS Loan Statement because it contains several numbers: the loan amount, deductions, interest, and amortizations.
In this guide, we’ll explain what the amortization schedule means, where to find it, and how to track your payments — all in simple, easy-to-understand steps.
💡 Quick Recap: What Is the SSS Salary Loan?
The SSS Salary Loan is a short-term financial assistance program offered to employed, self-employed, and voluntary members. It’s meant to help cover personal expenses — school, bills, emergencies — and it’s repayable in monthly installments (amortizations).
🧾 Basic Details You Should Know:
Interest rate: 8% per annum (based on the diminishing balance)
Loan term: 24 months for a 2-year loan, 12 months for a 1-year loan
Service fee: 1% of the approved loan amount (deducted upfront)
Penalty: 1% per month for any late payment
Eligibility:
For 1-month loan: at least 36 posted contributions (6 within the last 12 months)
For 2-month loan: at least 72 posted contributions (6 within the last 12 months)
Kung qualified ka, SSS will automatically deduct your monthly payments from your salary through your employer.
🧮 What Is a Monthly Amortization?
“Amortization” simply means the fixed monthly amount you pay to SSS to settle your loan — composed of principal (the actual amount borrowed) and interest.
Each month, your payment reduces your loan balance little by little. Over time, the interest portion becomes smaller while more of your payment goes toward the principal.
Think of it like this:
Every month, you pay a mix of interest + principal, until the entire loan is fully paid after 12 or 24 months.
📊 Where to Find Your Monthly Amortization Schedule
Here’s how to check your SSS Salary Loan’s amortization schedule step by step:
1️⃣ Through Your My.SSS Account (Most Accurate)
Go to the official SSS website and log in to your My.SSS account.
Click “Inquiry” → “Loans Info” → “Salary Loan.”
You’ll see:
Your loan amount
Monthly amortization amount
Payment due dates
Number of payments made
Remaining balance
👉 This page shows your official amortization schedule, including payment dates and posting status.
2️⃣ Through the SSS Mobile App
If you prefer checking on your phone:
Open the SSS Mobile App and log in.
Tap “Loans” → “Salary Loan.”
Your monthly amortization and remaining balance will appear right away.
The app is convenient if you just need a quick look at your next due payment or how many months you’ve already paid.
3️⃣ Printed Loan Statement of Account (SOA)
If you want the full table format — including all amortization breakdowns — you can request your Loan Statement of Account (SOA) at any SSS branch.
It usually includes:
Month
Beginning Balance
Payment
Interest (0.667%)
Principal
Remaining Balance
1
₱20,000.00
₱900.00
₱133.40
₱766.60
₱19,233.40
2
₱19,233.40
₱900.00
₱128.85
₱771.15
₱18,462.25
3
₱18,462.25
₱900.00
₱123.10
₱776.90
₱17,685.35
4
₱17,685.35
₱900.00
₱117.80
₱782.20
₱16,903.15
5
₱16,903.15
₱900.00
₱112.76
₱787.24
₱16,115.91
6
₱16,115.91
₱900.00
₱107.57
₱792.43
₱15,323.48
7
₱15,323.48
₱900.00
₱102.31
₱797.69
₱14,525.79
8
₱14,525.79
₱900.00
₱97.00
₱803.00
₱13,722.79
9
₱13,722.79
₱900.00
₱91.53
₱808.47
₱12,914.32
10
₱12,914.32
₱900.00
₱86.12
₱813.88
₱12,100.44
11
₱12,100.44
₱900.00
₱80.27
₱819.73
₱11,280.71
12
₱11,280.71
₱900.00
₱75.18
₱824.82
₱10,455.89
13
₱10,455.89
₱900.00
₱69.94
₱830.06
₱9,625.83
14
₱9,625.83
₱900.00
₱64.17
₱835.83
₱8,789.99
15
₱8,789.99
₱900.00
₱58.66
₱841.34
₱7,948.65
16
₱7,948.65
₱900.00
₱52.99
₱847.01
₱7,101.64
17
₱7,101.64
₱900.00
₱47.37
₱852.63
₱6,249.01
18
₱6,249.01
₱900.00
₱41.67
₱858.33
₱5,390.68
19
₱5,390.68
₱900.00
₱35.95
₱864.05
₱4,526.63
20
₱4,526.63
₱900.00
₱30.19
₱869.81
₱3,656.82
21
₱3,656.82
₱900.00
₱24.41
₱875.59
₱2,781.23
22
₱2,781.23
₱900.00
₱18.55
₱881.45
₱1,899.78
23
₱1,899.78
₱900.00
₱12.67
₱887.33
₱1,012.45
24
₱1,012.45
₱900.00
₱6.75
₱893.25
₱0.00
That’s what a real amortization schedule looks like — a table showing every month’s payment and how much goes to interest versus principal.
🧾 How to Read and Understand the Amortization Table
When you look at your statement or schedule, you’ll usually see columns like:
Column
What It Means
Payment Date
The month when your amortization is due.
Amortization Amount
The total fixed payment you owe per month.
Interest Portion
The small part of your payment that covers loan interest.
Principal Portion
The portion that reduces your actual debt.
Remaining Balance
The unpaid amount left after each payment.
Over time, the interest portion decreases, while the principal portion increases — meaning you’re slowly paying off your loan faster.
🧮 Example Computation for Amortization
Let’s say you were approved for a ₱20,000 salary loan with a 24-month term.
Interest rate: 8% per year
Service fee: ₱200 (1%)
Pro-rated interest: ₱219.18 (charged upfront)
Net proceeds: ₱19,580.82
Step-by-Step Amortization Sample:
₱20,000 × 8% = ₱1,600 yearly interest
₱1,600 ÷ 12 months = ₱133.33 average monthly interest
Using diminishing balance, your first few payments will be:
Month
Beginning Balance
Payment
Interest (0.667%)
Principal
Remaining Balance
1
₱20,000.00
₱900.00
₱133.40
₱766.60
₱19,233.40
2
₱19,233.40
₱900.00
₱128.85
₱771.15
₱18,462.25
3
₱18,462.25
₱900.00
₱123.10
₱776.90
₱17,685.35
4
₱17,685.35
₱900.00
₱117.80
₱782.20
₱16,903.15
5
₱16,903.15
₱900.00
₱112.76
₱787.24
₱16,115.91
6
₱16,115.91
₱900.00
₱107.57
₱792.43
₱15,323.48
7
₱15,323.48
₱900.00
₱102.31
₱797.69
₱14,525.79
8
₱14,525.79
₱900.00
₱97.00
₱803.00
₱13,722.79
9
₱13,722.79
₱900.00
₱91.53
₱808.47
₱12,914.32
10
₱12,914.32
₱900.00
₱86.12
₱813.88
₱12,100.44
11
₱12,100.44
₱900.00
₱80.27
₱819.73
₱11,280.71
12
₱11,280.71
₱900.00
₱75.18
₱824.82
₱10,455.89
13
₱10,455.89
₱900.00
₱69.94
₱830.06
₱9,625.83
14
₱9,625.83
₱900.00
₱64.17
₱835.83
₱8,789.99
15
₱8,789.99
₱900.00
₱58.66
₱841.34
₱7,948.65
16
₱7,948.65
₱900.00
₱52.99
₱847.01
₱7,101.64
17
₱7,101.64
₱900.00
₱47.37
₱852.63
₱6,249.01
18
₱6,249.01
₱900.00
₱41.67
₱858.33
₱5,390.68
19
₱5,390.68
₱900.00
₱35.95
₱864.05
₱4,526.63
20
₱4,526.63
₱900.00
₱30.19
₱869.81
₱3,656.82
21
₱3,656.82
₱900.00
₱24.41
₱875.59
₱2,781.23
22
₱2,781.23
₱900.00
₱18.55
₱881.45
₱1,899.78
23
₱1,899.78
₱900.00
₱12.67
₱887.33
₱1,012.45
24
₱1,012.45
₱900.00
₱6.75
₱893.25
₱0.00
After 24 months, your loan will be fully settled.
🧩 Using the SSS Salary Loan Calculator
If you don’t have your statement yet or just want to estimate your monthly amortization, you can easily use the 👉 SSS Salary Loan Calculator
It helps you:
Compute your possible loan amount based on your salary and contributions.
See your estimated monthly amortization for either 1-year or 2-year loans.
Simulate your amortization schedule month by month.
This tool is especially useful if you want to plan your budget before applying or verify if your amortizations posted correctly.
💸 Common Reasons Why Your Amortization Looks Different
Sometimes, the amounts on your SSS statement don’t match what you expected. Here’s why:
1️⃣ Delayed Posting
Payments from employers may take 1-2 months before they reflect in the system. Don’t panic if you don’t see them right away.
2️⃣ Pro-Rated Interest
If your loan was approved mid-month, SSS charges pro-rated interest covering the period before your first full amortization. (Example: ₱219.18 deducted upfront for 50 days coverage.)
3️⃣ Late Payment Penalties
If your employer remits late, a 1% monthly penalty applies to that amortization.
4️⃣ Loan Renewal
If you renewed your loan, SSS deducts your old balance from the new loan. Your amortization schedule resets, but your net proceeds become smaller.
🧠 Quick Tips to Stay on Track
✅ Track your payments every 2–3 months on My.SSS. ✅ Save your pay slips as proof of deductions. ✅ Check posting dates to ensure your employer remits on time. ✅ Use the calculator to estimate if your statement looks correct. ✅ Pay early if possible — SSS allows advance or full payments without penalty!
🧾 How the Loan Repayment Works
Automatic Deduction: Your employer deducts your monthly amortization from your salary and remits it to SSS.
Self-Employed or Voluntary: You’ll have to pay it directly via SSS branches or accredited payment partners.
Early Repayment: You can settle your balance anytime — no pre-termination fee.
Default Policy: If you stop paying, SSS may deduct from your future benefits (like maternity, sickness, or final benefits).
⚖️ Example Scenario
Ana, an employee earning ₱20,000/month, applied for a ₱20,000 two-year loan.
Her monthly amortization is ₱920. Each month, she checks her My.SSS portal to confirm her payment posted.
After 12 months, her remaining balance drops to around ₱9,500. She uses the Salary Loan Calculator to compare — the results match closely, confirming that her payments are accurate.
📆 When Does Amortization Start?
Amortization begins on or after the second month following loan approval.
Example:
Loan approved: March 12
Pro-rated interest covers March 12 to April 30
First amortization due: May
This ensures you only pay interest for the exact number of days before regular monthly payments begin.
🧠 TL;DR Summary
✅ Your amortization schedule shows how much you’ll pay monthly and how your loan balance reduces over time. ✅ You can view it via My.SSS, SSS Mobile App, or branch SOA printout. ✅ Interest rate: 8% per annum; loan term: up to 24 months. ✅ Use the SSS Salary Loan Calculator to estimate amortizations and plan your budget. ✅ Payments are deducted monthly and may take 1–2 months to reflect.
❓FAQs About the SSS Loan Amortization Schedule
1. How can I check my monthly amortization amount? Log in to My.SSS → Inquiry → Loans Info → Salary Loan to view your monthly amortization and due dates.
2. When will my first amortization start? Usually in the second month after loan approval (after the pro-rated interest period).
3. Can I pay my loan in advance? Yes! You can pay anytime in full or in advance with no penalty.
4. Why doesn’t my payment appear yet? It may take 1–2 months for your employer’s remittance to post in the SSS system.
5. How can I confirm if my amortization schedule is correct? Use the official SSS Salary Loan Calculator to simulate and compare your monthly payments.
Final Thought 💬
Your monthly amortization schedule is more than just numbers — it’s your roadmap to being debt-free with SSS. By checking it regularly and understanding how each payment affects your balance, you can stay in control of your finances and avoid unnecessary penalties.
