How Is the SSS Salary Loan Disclosure Statement Different from the Loan Payment Schedule?
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How Is the SSS Salary Loan Disclosure Statement Different from the Loan Payment Schedule?
When you apply for an SSS Salary Loan, two documents often appear in your online account — the Disclosure Statement and the Loan Payment Schedule.
They might look similar at first, but they actually serve two very different purposes. Many members confuse one for the other — leading to misunderstanding about when to pay or whether their loan is approved.
So in this guide, we’ll clearly explain the difference between the SSS Salary Loan Disclosure Statement and the Loan Payment Schedule, with real examples, timelines, and simple tips so you know what each one means for you.
🏦 Quick Refresher: How the SSS Salary Loan Works
The SSS Salary Loan is a cash loan program offered to employed, self-employed, and voluntary SSS members. It helps you cover personal or emergency expenses — like tuition, hospital bills, or daily needs — with affordable interest and flexible payment terms.
Here’s the quick summary:
Loan Type
Term
Interest
Requirements
1-Year Loan
12 months
8% per annum
36 posted contributions (6 within last 12 months)
2-Year Loan
24 months
8% per annum
72 posted contributions (6 within last 12 months)
When your loan is approved, SSS releases two main documents:
Disclosure Statement — summary of loan details
Loan Payment Schedule — breakdown of your monthly payments
Let’s explain how these differ.
📃 What Is the SSS Salary Loan Disclosure Statement?
The Disclosure Statement is an official summary of your loan contract. It shows the key financial information you must know before you start paying.
Think of it as your loan receipt and terms sheet combined.
🔍 What It Contains
Detail
Description
Principal Amount
The total amount approved for you
Service Charge (1%)
Deducted upfront by SSS
Interest Rate (8% p.a.)
Based on the diminishing balance
Pro-rated Interest
Interest from approval date to start of amortization
Loan Term
12 or 24 months
Total Deduction
Fees subtracted before release
Net Proceeds
Final amount you’ll receive
The disclosure statement ensures transparency — it tells you exactly what you’re signing up for.
However, it does not show your monthly due dates or payment breakdown — that’s where the Loan Payment Schedule comes in.
🧾 What Is the SSS Salary Loan Payment Schedule?
The Loan Payment Schedule lists each amortization (monthly payment) you’ll make during your loan term.
It tells you:
When your first and last payments are due
How much goes to interest vs. principal
Remaining balance after each month
It’s like your monthly roadmap for repaying the SSS loan.
🧮 Example Payment Schedule (₱20,000 Loan – 24 Months)
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
👉 As you can see, the total monthly payment stays almost the same, but over time, you pay less interest and more principal — this is what “diminishing balance” means.
🔑 Key Differences Between Disclosure Statement and Payment Schedule
Here’s a clear side-by-side comparison:
Feature
Disclosure Statement
Loan Payment Schedule
Purpose
Shows total loan details
Shows how and when you’ll pay
Issued
Upon approval
After loan release
Includes Interest & Fees
Yes (8% interest, 1% service charge, pro-rated interest)
Yes (breakdown per month)
Shows Monthly Dates
❌ No
✅ Yes
Used For
Transparency and legal record
Repayment tracking
Can Change?
No (fixed once approved)
No (unless loan renewed)
💡 In short:
The Disclosure is your loan’s big picture.
The Payment Schedule is your month-to-month guide.
💬 Example Analogy
Imagine you’re buying a phone through installment:
The Disclosure Statement is the paper showing the total price, interest, and fees.
The Payment Schedule is the monthly payment plan showing how much you’ll pay each month and when.
Both documents are important — one gives you the overview, the other keeps you on track.
🧮 How to Estimate Your Own Payment Schedule (Use the Calculator!)
If you want to preview your monthly amortization before applying, use the official 👉 SSS Salary Loan Calculator
This tool helps you:
Estimate your loanable amount based on contributions
Compute monthly amortization automatically
Understand how interest and service charges affect your take-home
Example:
If your Average Monthly Salary Credit (AMSC) is ₱20,000:
You can borrow ₱40,000 (for 2 years)
You’ll receive around ₱39,400 after deductions
Monthly payment ≈ ₱925
Total interest ≈ ₱1,800 over 24 months
By checking early, you can plan your budget and avoid missed payments.
📅 Understanding Pro-Rated Interest and Start of Amortization
Many members notice that their first payment starts one or two months after approval. That’s because SSS charges a pro-rated interest upfront — for the days between loan approval and the start of the next month.
📘 Example:
Loan approved: March 12, 2025
Pro-rated period: March 12–April 30 (50 days)
Regular payment starts: May 2025
Pro-rated interest ensures fairness — you only pay for the actual days covered before the amortization starts.
⚠️ Common Confusions Among Members
Confusion
Reality
“I already got my disclosure — my loan is approved!”
❌ Not yet. Approval is separate from disclosure.
“My first payment is due right away.”
❌ Payments start the following month after release.
“The interest seems too high!”
❌ It’s 8% annual on diminishing balance, not on total loan.
“I don’t see my due dates!”
✅ They’re listed in the Loan Payment Schedule, not the Disclosure.
💰 Loan Calculation Basics (Simplified)
Component
Description
Interest Rate
8% per year (based on remaining balance)
Service Charge
1% deducted from approved loan
Loan Term
12 or 24 months
Penalty
1% per month if late
Early Repayment
Allowed anytime, no penalty
These details appear in your disclosure, but the actual due dates appear in your payment schedule.
🧠 TL;DR (Too Long; Didn’t Read)
Disclosure Statement = Loan summary (amount, interest, fees, net proceeds)
Payments start the month after your loan is released.
❓ FAQs About Disclosure and Payment Schedule
1. Why did I receive the disclosure but not the payment schedule yet? Because your loan hasn’t been released yet. The schedule appears only after release.
2. Can I use the disclosure as proof of approval? No. It only shows the loan details, not confirmation of approval or release.
3. When will I get my first payment schedule? Usually within 1–3 days after loan release — visible in your My.SSS account.
4. What happens if my employer doesn’t deduct my monthly amortization? You’re still responsible for payment. Contact SSS to avoid penalties.
5. Can I pay in advance or settle early? Yes! You can pay anytime without penalty. It’s a smart way to save on interest.
🏁 Final Thoughts
Understanding your Disclosure Statement and Loan Payment Schedule helps you manage your SSS Salary Loan confidently.
The disclosure shows the total picture of your loan — interest, charges, and terms — while the payment schedule shows when and how you’ll pay each month.
If you’re planning to apply soon, check how much you qualify for using the 👉 SSS Salary Loan Calculator so you can plan your payments smartly and avoid surprises.
