SSS Salary Loan Monthly Payment: How Much You’ll Pay & How It Works
If you’re planning to apply for an SSS Salary Loan, one of the first questions you’ll probably ask is:
“Magkano ang babayaran ko kada buwan?”
Good question — because understanding your monthly amortization helps you plan your budget and know exactly how much you’ll receive after deductions.
In this guide, we’ll break down everything you need to know — from how your monthly payments are computed, to how pro-rated interest affects your take-home loan amount.
We’ll also show an actual amortization table for a ₱30,000 loan over 24 months.
🧾 What Is an SSS Salary Loan?
An SSS Salary Loan is a cash benefit for active SSS members who need short-term financial help.
It’s payable through monthly deductions from your salary (if employed) or manual payment (if self-employed or voluntary).
SSS charges a fixed annual interest of 8% based on the diminishing principal balance — meaning, as your balance goes down, the interest portion also decreases.
🧩 Who Can Apply
To qualify, you must meet these basic requirements:
- ✅ For 1-year loan – at least 36 posted contributions, with 6 within the last 12 months.
- ✅ For 2-year loan – at least 72 posted contributions, with 6 within the last 12 months.
- ✅ Currently employed or self-employed with updated contributions.
- ✅ No existing unpaid SSS loan.
💰 How Much Can You Borrow
Your loan amount depends on your Average Monthly Salary Credit (AMSC):
| Loan Type | Basis | Maximum Loan |
|---|---|---|
| 1-Year Loan | 1 month of AMSC | up to ₱25,000 |
| 2-Year Loan | 2 × AMSC | up to ₱50,000 |
👉 Even if your AMSC is higher, SSS will not release more than ₱50,000 for a two-year loan.
⚙️ Deductions Before You Get Your Loan
When SSS approves your loan, it won’t give you the full amount right away.
They first deduct:
- Service Charge (1%) – automatically subtracted from your approved amount.
- Pro-Rated Interest – interest charged from the approval date up to the end of the next month.
Let’s break that down.
📆 How Pro-Rated Interest Works (Based on Approval Date)
This is one of the most misunderstood parts of the SSS Salary Loan — but it’s easy once you see the logic behind it.
Pro-rated interest is interest charged before your first amortization starts.
It covers the number of days from the approval date up to the end of the following month.
Example:
- Loan approved: March 12, 2025
- Loan amount: ₱30,000
- Interest rate: 8% per year
Step 1: Count days covered
→ March 12–31 = 20 days
→ April = 30 days
→ Total = 50 days
Step 2: Compute annual interest
→ 8% of ₱30,000 = ₱2,400/year
Step 3: Compute daily interest
→ ₱2,400 ÷ 365 = ₱6.58/day
Step 4: Multiply by days covered
→ ₱6.58 × 50 = ₱329.00
✅ ₱329.00 is your pro-rated interest, deducted upfront before SSS releases your money.
So if your loan is ₱30,000:
- Less 1% service charge = ₱300
- Less ₱329 pro-rated interest = ₱329
- Net proceeds you’ll receive: ₱29,371
🧮 Try It Yourself
Want to see how much you’ll actually receive?
Use the SSS Salary Loan Calculator to check your exact take-home amount and monthly amortization based on your loan date and amount.
📊 Example: ₱30,000 SSS Salary Loan (24 Months)
Here’s an easy-to-read amortization table for a ₱30,000 loan payable over 24 months at 8% annual interest.
| Month | Beginning Balance | Monthly Payment | Interest | Principal | Remaining Balance |
|---|---|---|---|---|---|
| 1 | ₱30,000 | ₱1,350 | ₱200 | ₱1,150 | ₱28,850 |
| 2 | ₱28,850 | ₱1,350 | ₱192 | ₱1,158 | ₱27,692 |
| 3 | ₱27,692 | ₱1,350 | ₱185 | ₱1,165 | ₱26,527 |
| 4 | ₱26,527 | ₱1,350 | ₱177 | ₱1,173 | ₱25,354 |
| 5 | ₱25,354 | ₱1,350 | ₱169 | ₱1,181 | ₱24,173 |
| 6 | ₱24,173 | ₱1,350 | ₱162 | ₱1,188 | ₱22,985 |
| 7 | ₱22,985 | ₱1,350 | ₱153 | ₱1,197 | ₱21,788 |
| 8 | ₱21,788 | ₱1,350 | ₱145 | ₱1,205 | ₱20,583 |
| 9 | ₱20,583 | ₱1,350 | ₱137 | ₱1,213 | ₱19,370 |
| 10 | ₱19,370 | ₱1,350 | ₱129 | ₱1,221 | ₱18,149 |
| 11 | ₱18,149 | ₱1,350 | ₱121 | ₱1,229 | ₱16,920 |
| 12 | ₱16,920 | ₱1,350 | ₱113 | ₱1,237 | ₱15,683 |
| 13 | ₱15,683 | ₱1,350 | ₱105 | ₱1,245 | ₱14,438 |
| 14 | ₱14,438 | ₱1,350 | ₱96 | ₱1,254 | ₱13,184 |
| 15 | ₱13,184 | ₱1,350 | ₱88 | ₱1,262 | ₱11,922 |
| 16 | ₱11,922 | ₱1,350 | ₱80 | ₱1,270 | ₱10,652 |
| 17 | ₱10,652 | ₱1,350 | ₱71 | ₱1,279 | ₱9,373 |
| 18 | ₱9,373 | ₱1,350 | ₱63 | ₱1,287 | ₱8,086 |
| 19 | ₱8,086 | ₱1,350 | ₱54 | ₱1,296 | ₱6,790 |
| 20 | ₱6,790 | ₱1,350 | ₱45 | ₱1,305 | ₱5,485 |
| 21 | ₱5,485 | ₱1,350 | ₱37 | ₱1,313 | ₱4,172 |
| 22 | ₱4,172 | ₱1,350 | ₱28 | ₱1,322 | ₱2,850 |
| 23 | ₱2,850 | ₱1,350 | ₱19 | ₱1,331 | ₱1,519 |
| 24 | ₱1,519 | ₱1,350 | ₱10 | ₱1,340 | ₱0 |
🧾 Summary:
- Total Payment: ₱32,400
- Total Interest: ₱2,400
- Pro-Rated Interest (deducted upfront): ₱329
- Service Charge (1%): ₱300
- Net Proceeds Received: ₱29,371
📘 Understanding Your Monthly Payment
Each monthly payment includes two parts:
- Interest – smaller every month (since balance decreases)
- Principal – bigger every month (as more goes to repay the loan)
That’s why even if your monthly payment stays ₱1,350, the interest portion shrinks and the principal portion grows over time.
📤 How Payment Is Made
If employed, your employer automatically deducts your loan payment from your salary and remits it to SSS.
If self-employed or voluntary:
- You can pay via SSS branch, GCash, UnionBank, or Bayad Center partners.
- Always use your Payment Reference Number (PRN) for accurate posting.
⚠️ Penalties and Renewal
- Late payment penalty: 1% per month on overdue amount
- Early payment: allowed anytime, no penalties
- Loan renewal: You can re-apply after paying at least 50% of your previous loan and at least 12 months have passed.
TL;DR Summary
✅ SSS Salary Loan key facts:
- Interest: 8% per year
- Term: 24 months (for 2-year loan)
- Deductions: 1% service charge + pro-rated interest (based on approval date)
- Payments: deducted monthly or paid via PRN
- Use the SSS Salary Loan Calculator to compute your exact monthly amortization.
🤔 Frequently Asked Questions (FAQs)
1. How long does SSS take to release my loan?
Usually within 3–5 working days if applied online and your employer certifies promptly.
2. When does the first payment start?
Your first amortization begins on the second month after the approval month.
3. Why is my received amount smaller than my approved loan?
Because SSS deducts the 1% service fee and pro-rated interest upfront.
4. Can I pay my loan earlier than 24 months?
Yes. You can fully settle anytime without penalty.
5. What happens if I miss payments?
SSS charges 1% penalty per month on the unpaid amount and may offset from future benefits.
✅ Final Tip
If you’re planning to borrow soon, check your SSS contribution status and try the online calculator first.
It’s the best way to see your real take-home amount and monthly payments before applying.
👉 Try it here: SSS Salary Loan Calculator
