What Does “Amount Paid” and “Remaining Balance” Mean on the SSS Salary Loan Statement?
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What Does “Amount Paid” and “Remaining Balance” Mean on the SSS Salary Loan Statement?
When you check your SSS Salary Loan Statement, two of the most important terms you’ll see are “Amount Paid” and “Remaining Balance.” Kung isa kang SSS member na kasalukuyang nagbabayad ng loan, these numbers show exactly how much you’ve already paid and how much you still owe.
But many members get confused — especially when the figures don’t seem to match their expectations. Let’s clear that up step by step.
🏦 Understanding the SSS Salary Loan in Simple Terms
The SSS Salary Loan is a short-term cash loan offered to employed, self-employed, and voluntary members. It helps cover sudden financial needs — like hospital bills, tuition, or emergency expenses — using your posted contributions as the basis for eligibility.
Here’s how it works:
Interest Rate: 8% per annum (based on the diminishing principal balance)
Loan Term: 12 months for 1-year loan; 24 months for 2-year loan
Service Charge: 1% of the approved amount (deducted before release)
Penalty for Late Payment: 1% per month on unpaid amortization
Amortizations are deducted monthly from your salary (if employed) or can be paid voluntarily via SSS partner channels.
💡 Why “Amount Paid” and “Remaining Balance” Matter
These two sections in your SSS Loan Statement give you a real-time snapshot of your loan status:
Term
Meaning
Example
Amount Paid
Total payments you’ve made (including interest and principal portions).
₱8,000 paid as of September 2025
Remaining Balance
The unpaid portion of your loan — what’s left to settle fully.
₱12,000 still due as of September 2025
In short:
Amount Paid = How far you’ve come
Remaining Balance = How far you still have to go
📄 Where to Find These in Your SSS Loan Statement
When you open your loan statement via My.SSS, you’ll see a breakdown similar to this:
Loan Type: Salary Loan
Loan Amount Approved: ₱20,000
Service Fee: ₱200 (1%)
Net Proceeds: ₱19,800
Amount Paid: ₱8,000
Remaining Balance: ₱12,000
Next Due Date: November 30, 2025
If your payments are deducted through your employer, SSS automatically updates these figures each month once remittances are posted.
⚙️ How SSS Computes the “Amount Paid” and “Remaining Balance”
The SSS uses a diminishing balance method — meaning the 8% annual interest is applied only on your remaining principal each month.
Let’s look at an example:
Example:
Loan Amount: ₱20,000
Term: 24 months
Annual Interest: 8%
Monthly Interest: 0.6667% (8% ÷ 12)
Month
Beginning Balance
Interest
Principal
Payment
Remaining Balance
1
₱20,000
₱133.33
₱801.67
₱935.00
₱19,198.33
2
₱19,198.33
₱127.99
₱807.01
₱935.00
₱18,391.32
…
…
…
…
…
…
24
₱923.00
₱6.15
₱928.85
₱935.00
₱0.00
After two years:
Amount Paid: ₱22,440 total
Interest portion: ₱2,440
Principal repaid: ₱20,000 (the original loan)
That’s how your “Amount Paid” and “Remaining Balance” are calculated behind the scenes.
The loanable amount based on your latest 12 months of contributions
The total repayment with 8% annual interest
Your approximate “Amount Paid” vs “Remaining Balance” over time
This is especially useful for planning your payments or checking if deductions from your payslip match SSS records.
⚠️ Why Your “Amount Paid” May Not Match Your Deductions
There are a few reasons why your SSS statement might show a different “Amount Paid” from what you expect:
1. 🕐 Delayed Employer Remittance
Your employer may deduct payments on time but remit them late to SSS. Until posted, they won’t reflect in your statement.
2. 💳 Partial Payments
If you switched jobs or had unpaid months, those gaps reduce your “Amount Paid” temporarily.
3. 🔄 Loan Renewal
When you renew your loan, the Remaining Balance from your old loan is automatically deducted from the new one. This can make your “Amount Paid” look lower than before.
4. 🧾 Condonation or Restructuring
If you joined a condonation program, penalties or interests may be waived — changing how your total payments are displayed.
🧮 Example: How the Balance Changes Over Time
Let’s say:
Loan approved: ₱20,000
Monthly amortization: ₱935
Term: 24 months
If you’ve paid 10 months already:
Description
Value
Total Payments Made
₱9,350
Total Interest Paid
₱850 (approx.)
Principal Paid
₱8,500
Remaining Balance
₱11,500
In this case:
Amount Paid = ₱9,350
Remaining Balance = ₱11,500
If you miss one month, a 1% penalty (₱9.35) is added to your next payment.
🧾 How to Check Your Updated Balance Online
To view your Amount Paid and Remaining Balance, log in to your My.SSS account:
In short: Your “Amount Paid” shows your progress. Your “Remaining Balance” shows your goal. Keep track monthly to avoid penalties and ensure your records match.
❓ Frequently Asked Questions (FAQs)
1. How often is the SSS Salary Loan statement updated?
Usually every time your employer remits your loan payment to SSS, typically once a month.
2. Why does my “Remaining Balance” not decrease immediately?
Payments take time to post. Wait around 2–4 weeks after payroll deduction before it reflects.
3. Can I pay my loan in full anytime?
Yes. You can make an early or full repayment anytime without penalties.
4. What happens if I miss several months?
A 1% monthly penalty applies on each missed amortization, and unpaid loans can be deducted from your future benefits.
5. How can I check my payment posting dates?
Login to your My.SSS account, go to “Inquiry > Loans Info”, and check the Payment History tab.
✳️ Final Advice
Always monitor your SSS Salary Loan Statement regularly. If “Amount Paid” and “Remaining Balance” don’t seem right, check with your employer or SSS branch — delays or mismatched postings are common but fixable.
And if you want to plan your payments or renewal, use the 👉 SSS Salary Loan Calculator to know exactly where you stand financially.
