Planning to borrow ₱32,000 from SSS and want to know the exact monthly amortization and take-home amount?
Good news — this article will guide you step-by-step on how much you’ll actually receive, how much interest SSS deducts upfront (called pro-rated interest), and how your monthly amortization is computed for a 2-year term.
Let’s break it down clearly and accurately, based on official SSS computation rules.
🏦 What Is an SSS Salary Loan?
The SSS Salary Loan is a short-term loan given to active SSS members. It’s meant to provide financial assistance for urgent needs like tuition, home repairs, or emergencies.
It’s payable through monthly salary deductions, remitted directly by your employer to SSS.
SSS offers two main loan types:
1-Year Loan – up to one (1) month of your Average Monthly Salary Credit (AMSC)
2-Year Loan – up to two (2) times your AMSC
A ₱32,000 salary loan falls under the 2-year loan type, payable in 24 months.
📊 ₱32,000 SSS Salary Loan Computation Overview
Details
Description
Amount (₱)
Approved Loan
Gross loan approved by SSS
32,000
Less: Service Charge (1%)
Deducted by SSS upon release
320
Less: Pro-Rated Interest (50 days @ 8%/year)
Based on approval on March 12, 2025 (until April 30, 2025)
351
Net Proceeds (Cash Received)
Actual credited to your account
31,329
Loan Term
24 months (2 years)
Annual Interest
8% per annum, diminishing balance
Monthly Interest Rate
0.67% per month
Start of Amortization
Second month after approval
✅ Actual cash credited: ₱31,329 ✅ Monthly amortization: ₱1,456 per month ✅ Total repayment: ₱34,944 ✅ Total interest (over 2 years): ₱2,944
🧮 Step-by-Step SSS Salary Loan Computation
Loan amount: ₱32,000
Less service charge (1%) → ₱320
Less pro-rated interest:
8% of ₱32,000 = ₱2,560/year
₱2,560 ÷ 365 = ₱7.01/day
₱7.01 × 50 days = ₱351 (pro-rated interest)
Net cash received: ₱32,000 − ₱320 − ₱351 = ₱31,329
📋 Eligibility Requirements for a ₱32,000 SSS Salary Loan
Requirement
Description
SSS Membership
Must be an active SSS member
Posted Contributions
72 posted contributions, with 6 in the last 12 months
Employment Status
Currently employed, self-employed, or voluntary
Loan History
No existing overdue SSS loan
Employer Compliance
Employer must be up-to-date with SSS remittances
📉 Pro-Rated Interest Explained (Why SSS Deducts It Upfront)
When your loan is approved mid-month, SSS deducts pro-rated interest to cover the time from approval until the end of the next month — before your regular amortization starts.
Example for ₱32,000 approved on March 12, 2025:
Step
Description
Computation
1
Days covered
20 (March) + 30 (April) = 50 days
2
Annual interest
8% × ₱32,000 = ₱2,560/year
3
Daily interest
₱2,560 ÷ 365 = ₱7.01/day
4
Multiply by 50 days
₱7.01 × 50 = ₱351
✅ ₱351 is deducted upfront, ensuring fairness since you only pay interest for the exact days before your amortization officially starts.
⚖️ Penalties, Renewal, and Early Payment
Policy
Description
Late Payment Penalty
1% per month on unpaid amortization
Early Settlement
You can pay off early anytime with no penalties
Loan Renewal
Allowed after 12 months or when half of the term is paid
Default Policy
Future SSS benefits or new loans may be withheld if unpaid
🧾 TL;DR Summary
Key Info
Details
Loan Amount
₱32,000
Service Charge
₱320
Pro-Rated Interest (50 days)
₱351
Net Proceeds
₱31,329
Loan Term
24 months
Monthly Payment
₱1,456
Total Payment
₱34,944
Total Interest
₱2,944
Eligibility
72 contributions, 6 recent
Start of Payment
2nd month after approval
Penalty
1% per month (if late)
❓ Frequently Asked Questions (FAQs)
1. How much will I actually receive from my ₱32,000 loan?
You’ll receive ₱31,329 after the 1% service charge (₱320) and pro-rated interest (₱351) are deducted.
2. Is the ₱351 pro-rated interest fixed?
No. It depends on the approval date. If approved earlier or later in the month, SSS will compute it based on the actual days covered until the next month’s end.
3. When does my first payment start?
Usually on the 2nd month after loan approval. Example: approved March → first payment starts May.
4. Can I pay off early?
Yes! You can settle the balance anytime without penalty and save on interest.
5. What happens if I miss one payment?
A 1% penalty per month applies on the overdue amount. Repeated delays may cause SSS to deduct the balance from your future salary loans or benefits.
🌟 Final Thoughts
A ₱32,000 SSS Salary Loan is a smart, affordable way to manage short-term cash needs. With a fixed ₱1,456 monthly amortization and clear deductions (₱320 service charge + ₱351 pro-rated interest), it’s easy to plan your finances responsibly.
Before applying, make sure your contributions are updated and your employer is actively remitting. And if you want to double-check your numbers or test other loan amounts, try the 👉 SSS Salary Loan Calculator.
