What Information Is Shown in the SSS Salary Loan Disclosure Statement?

If you’re an SSS member, your Salary Loan Disclosure Statement is the official document that shows exactly how your loan is computed — from approved amount, deductions, interest, to monthly amortization.
Even if you’re on maternity leave or a first-time borrower, understanding this statement helps you know your true take-home amount and avoid surprises later.

💡 Introduction: Why You Should Understand the Disclosure Statement

When you apply for an SSS Salary Loan, it’s easy to focus on the question, “Magkano ang makukuha ko?” But just like with a credit card, the real question is — “Magkano ang babayaran ko in total?”

That’s where the SSS Salary Loan Disclosure Statement comes in.
It’s not just a form — it’s your financial map showing every detail of your approved loan, interest, and repayment plan.

For first-time borrowers or new mothers using their SSS benefits, this document helps you:

Track exactly how your money moves
Avoid hidden charges or misunderstandings
Stay updated on your monthly payments

Let’s break it down clearly — no financial jargon, just easy explanations.

🧾 What Is the SSS Salary Loan Disclosure Statement?

The Disclosure Statement is an official summary of your approved SSS Salary Loan.
It details:

The loan amount you qualified for
Interest rate (8% per annum)
Service charge deduction (1%)
Pro-rated interest deduction (for partial months)
Amortization schedule
Total repayment period

In short: It’s your transparent proof of how your loan is calculated — from start to finish.

🧩 Parts of the SSS Salary Loan Disclosure Statement

Below are the major sections you’ll find in your disclosure form and what they mean in simple terms.

1️⃣ Borrower’s Details

Shows your:

Full name
SSS number
Employer name/ID
Date of approval

✅ Tip: Always double-check these details. If your employer code or SSS number is wrong, your payments might not post correctly.

2️⃣ Loan Summary and Deductions

This section gives you the “math” behind your take-home amount.

Example:

Description	Amount (₱)
Approved Loan	20,000.00
Service Fee (1%)	-200.00
Pro-rated Interest (see below)	-219.18
Net Proceeds (credited to your bank)	₱19,580.82

That’s what will be sent to your UMID-ATM or bank account.

3️⃣ Understanding Pro-Rated Interest

This often confuses many borrowers — bakit may bawas agad kahit di pa nagsisimula ang hulog?

That’s because SSS charges pro-rated interest from your approval date until the end of the following month, before your actual first amortization starts.

Example Scenario:

Loan approval date: March 12, 2025
Amount approved: ₱20,000
Interest rate: 8% per annum

Step-by-step computation:

Count days: March 12–31 (20 days) + April (30 days) = 50 days
Annual interest = 8% × ₱20,000 = ₱1,600/year
Daily interest = ₱1,600 ÷ 365 = ₱4.38/day
50 days × ₱4.38 = ₱219.18

✅ Result: ₱219.18 is deducted upfront before loan release.
This ensures fairness — you only pay interest for the actual pre-amortization period.

4️⃣ Interest Rate and Amortization Schedule

SSS Salary Loans charge 8% interest per year, computed on a diminishing balance.
That means as your balance decreases, your monthly interest also goes down.

Typical Payment Terms:

1-year loan: 12 months to pay
2-year loan: 24 months to pay

Payments are automatically deducted from your salary and remitted by your employer.

5️⃣ Payment Schedule Overview

The disclosure includes your monthly amortization table:

Month	Due Date	Amount	Remaining Balance
1	May 2025	₱904.00	₱19,096.00
2	Jun 2025	₱904.00	₱18,192.00
…	…	…	…

💡 Tip: Keep a copy of this schedule. It helps you track if your employer is remitting your payments correctly.

6️⃣ Total Amount Payable

At the bottom, you’ll see your total obligation — the full cost once interest and fees are added.

For example:

Borrowed ₱20,000 → Payback ₱21,696 over 24 months
That’s ₱1,696 total interest — much cheaper than a credit card or payday loan.

🧮 How to Compute Your Loan — Easily!

Want to see how much you qualify for and what your monthly payment might look like?
Use the official SSS Salary Loan Calculator.

It lets you:

Estimate your loanable amount based on your AMSC (Average Monthly Salary Credit)
Compute monthly amortizations
See how deductions and interest affect your net proceeds

🔢 It’s especially useful if you’re planning your maternity leave or budgeting your 13th-month pay.

📋 Eligibility and Requirements

🧍 For a 1-Year Loan:

At least 36 posted contributions, 6 within the last 12 months.
Currently employed or self-employed with updated contributions.
No existing overdue SSS loan.

👩‍💼 For a 2-Year Loan:

At least 72 posted contributions, 6 within the last 12 months.
Same employment and contribution rules apply.

🧾 Additional Conditions:

You must not have an unsettled SSS benefit overpayment.
Employer must be up-to-date in remitting contributions.
Minimum loan amount: ₱1,000.
Maximum: Up to two (2) times your AMSC or ₱50,000, whichever is lower.

⚙️ Loan Processing and Release

Apply Online through your My.SSS account.
Wait for employer certification.
Once approved, funds are credited to your bank account or UMID card within a few days.
The Disclosure Statement becomes available for download — usually as a PDF.

⚖️ Repayment Rules

Term: 12 or 24 months, depending on the loan type.
Interest: 8% per annum on diminishing balance.
Service charge: 1% deducted upon release.
Penalty: 1% per month for late payment.
Deduction method: Employer automatically deducts from your salary.
Early repayment: Allowed anytime — no penalty.
Default policy: If unpaid, SSS may deduct from future benefits.

🍼 Applying While on Maternity Leave

Good news — even new mothers can apply for an SSS Salary Loan if:

They are actively employed and
Have the required number of contributions before maternity leave.

Your loan can help cover extra expenses during your recovery or child care period, as long as your employer certifies your active status.

💬 Why the Disclosure Statement Matters

Many members skip reading it, thinking it’s “just paperwork.”
But it actually protects you — ensuring transparency and fairness.

Here’s what it tells you clearly:

How much interest you’ll pay
When payments start
How much was deducted before release
How your total repayment is computed

Think of it as your loan version of a credit card statement — your roadmap to financial awareness.

🧠 Real Example (Full Breakdown)

Item	Amount (₱)
Approved Loan	20,000
Less: 1% Service Fee	200
Less: Pro-Rated Interest (50 days)	219.18
Net Loan Proceeds	19,580.82
Term	24 months
Interest	8% per annum
Monthly Amortization	₱904.00
Total Payment	₱21,696
Total Interest Paid	₱1,696

This breakdown is exactly what appears in your SSS Salary Loan Disclosure Statement.

🧾 TL;DR — Key Points to Remember

Category	Details
Interest Rate	8% per annum (diminishing balance)
Service Fee	1% upfront
Pro-Rated Interest	Charged for approval-to-next-month coverage
Term	12 or 24 months
Loan Limits	₱1,000 to ₱50,000 max
Payment	Salary deduction
Late Penalty	1% per month

🙋 Frequently Asked Questions (FAQs)

1. What is the purpose of the SSS Salary Loan Disclosure Statement?

It’s your detailed loan summary that explains all computations, deductions, and repayment terms.

2. Do I need to print the disclosure?

No, you can download it from My.SSS. But printing a copy for your records is recommended.

3. Why is there a deduction before I receive my loan?

That’s the service fee (1%) and pro-rated interest for the days before your first amortization.

4. Can I pay off my SSS loan early?

Yes! You can fully pay anytime without penalties. You’ll even save on interest.

5. What happens if I miss a payment?

A 1% monthly penalty applies to the missed amortization, and your next SSS benefit claim may be offset.

6. Can I apply again after finishing my loan?

Yes, as long as you’ve paid at least half of your current loan and have no pending penalties.

🏁 Final Thoughts

Understanding your SSS Salary Loan Disclosure Statement is the key to smart borrowing.
It shows the full story — not just how much you receive, but how your payments are structured and why deductions exist.

Before you apply, take a few minutes to explore your eligibility and projected payments using the SSS Salary Loan Calculator.

Whether you’re planning a home upgrade, tuition help, or maternity recovery — knowing your loan details empowers you to manage your money wisely.

What Information Is Shown in the SSS Salary Loan Disclosure Statement?