SSS Salary Loan Interest Rate Is Not As Low As You Think

Updated 2012:  

Finally, the SSS improved its salary loan program! Go to our article on the improved SSS salary loan program.


January 23, 2011:

The SSS salary loan interest rate is not as cheap as we think.

It’s important that we remember this so we don’t take our SSS loan lightly, and so that we don’t borrow just to buy things we don’t really need.
In my previous workplace, some of my co-workers borrow money from the SSS thinking the loan is a pure benefit. They spend it all to celebrate their birthdays or to buy fancy gadgets/appliances.

At first glance, the 10 percent annual interest rate is low, that it’s not even 1 percent a month. But if you actually compute the total cost of the SSS loan, the total interest taken from the borrower is higher than 10 percent.  And there’s still the 1 percent service fee to be considered.

Why? It’s because SSS does not give you the total amount of your loan, as posted in the Loan Amount box. SSS deducts immediately the total interests for the first 12 months.

For example, pag ang loan amount mo ay 20,000 pesos payable in 2 years, SSS doesn’t give you the whole 20,000. It deducts the first-year interest and the one-percent service fee, so you get only about 18,228 pesos. In reality, the total interest you pay would be nearly 4,000 pesos.

I-compare natin sa Credit-to-Cash loan ng BPI Classic Card. (I use BPI as an example, but there are others with similar or lower rates.)  If you borrow 20,000 pesos, you really get 20,000 pesos, and the total interest you would pay for 24 months is about 3,840 pesos.

What I’m really trying to say is:

Although the SSS salary loan interest rate is lower than many others such as pawnshop rates and other bank personal loan rates, hindi pa rin siya ganong kababa.

So, we should not take SSS loans lightly, thinking that they’re super low-cost loans.  We should use them for very important things.

Related Article:   Low Interest Personal Loans in the Philippines


Add a Comment
  1. Hi Roy, yes, you made the right decision in using SSS loan. Malaki talaga ang natipid mo. What I don’t approve of is yong mga employees na akala nila windfall yong loan na pagkatanggap ay magpapainom. Ganun dati sa former company where I worked. I’m glad that you used it to get what you want, although personally, a 30k phone is too expensive for me. Pero ginagamit mo naman yata sa web projects mo, so that can be considered an investment.

  2. well for me its better to have it

    in my end I bought a phone worth 30k, ni loan ko from sss and babayran ko is 1384.34 for 24 months rather than get the phone directly sa seller which will cost 2,600+ per month for 36 months.

  3. Hi Edmark, sorry wala akong access sa SSS member records. I’m not employed by SSS. The best thing you should do is to go to the nearest SSS branch with your IDs, and then apply for loan penalty condonation. Bibigyan ka nila ng form to fill up, at malalaman mo kung magkano na ang loan mo, at kung magkano ang mababawas, at kung magkano ang monthly payment mo sa pipiliin mo na loan term (gaano katagal ka magbayad). If you apply to this program, dapat bayaran mo ang monthly payment kasi malamang hindi ka na qualified sa susunod na loan penalty condonation program.

  4. Pwed maki suyo na lng check yung LOAN ko sa SSS kung mag kano standing balance same name naman po yung naka lagay sa SSS ko EDMARK RIEL DIAO salamat po ang I am will to wait for your reply to send email into my account. God Bless SSS employee.

  5. Hi Good Day ask ko lng po yung sa akin hindi ko na bayaran for almost 2 years. Paano po ba ang procedure my discount po ba or fully paid talaga. Send naman ng update sa email ko if pwed dahil naka limutan kuna kc na double check ang loan ko salamat.

  6. Hi Mary Ann, lumampas na ba ang 12 months or more since your loan check date? At itong balance na 6k+ ba ay less than kalahati na ng loan amount mo? If yes sa 2 tanong, yes, puede ka nang mag-loan uli.

  7. Hi mam ask ko lang po meron Pa po akong balance n 6,507.30 s 1St loan ko,, puwede na po ba akong mgloan ult ng 2nd loan

  8. Hi ghie, it’s best na pumunta ka sa nearest SSS branch with LOA from your husband, your IDs and his IDs para ma-file mo na. Matatanggal lahat ng penalties, pero yong mga interests ay hindi. You can get forms from the SSS, or you can download and print from here: SSS Loan Restructuring Form, Letter of Authority

  9. hi mam nora.mag apply sana po ako ng restucuring loan .8000 loan ng husbnd q.and 10 yrs n cia ndi nkkabayad mgknu po ang penalty nun

  10. hi po,

    Pahingi ako conputation, dapat mag start yung deduction ko by April 2017 sa loan ko pero hindi na deduct. Eh almost 1 year na mag kano na yung penalty nun

  11. Hi po tanong kolang po kong magkano babayaran ng asawa ko monthly sa sss loan nya na 15k at olang buwan yon babayaran,salamat po

  12. Hi mary joy, hiwalay ang pagbayad ng contribution at loan payment. Kapag sa SSS branch, 2 forms (contribution payment form at loan payment form ) ang gagamitin mo. Kapag sa Bayad Center, 2 forms din ang susulatan mo, parehong forms, pero yong isa icheck mo ang “Contribution” at yong isa ay icheck mo yong “Short Term Loan” at isulat mo “Salary Loan” sa “Loan Type_____”. Ilang months? 24 months kang magbabayad.

  13. hi ms nora ask qoh lng poh un ngloan poh aq ng 6000 at ang monthly amortization q is 276.87 iaad q poh b un s byad q s monthly contribution q.. tz ilan month poh ba2yaran ung loan… tnx….

  14. 2,200 (1st month)
    2000 (2nd month)?

  15. The 4,000 interest as posted in this site is incorrect it should be 2,200+ only (10% interest + 1% processing fee). I don’t know where did you get your information. You can generate a sample computation and try it yourself on the SSS loan site (with monthly amortization).

    20,000 * 10% = 2,000 + 200 = 2,200+ more or less
    2 years to pay (24 months)

    Correcting the comment below.

  16. The 4,000 interest as posted in this site is incorrect it should be 2,000+ only (10% interest + 1% processing fee). I don’t know where did you get your information. You can tried it yourself on the SSS loan site to get the sample computation with monthly amortization.


  17. Jasper Paul C. Relana

    Tapos ko na po bayaran ang 1st loan ko 15,000 , ang check po ng 2nd loan ko ay 15,500 po bakit po kaya ang baba, 60 months pa lang po ang contribution ko…

    Please clear out my inquiry.


  18. Hi Miss Nora,

    May idea po ba kayo if paano po makakuha ng loan voucher sa sss website?
    Nawala po kasi yong binigay nila nong nagloan ako tapos hinihingi po ngayon ng new company ko po for them to deduct my monthly loan.
    Please advise.

    Thank you.

  19. Hi po question lng. My existing loan ako 5,500 ang huling tnung ko last month klngan daw po bumana ng 4k ung loan ko pra mkpg reloan. Ntigil po kse ako s pghulog for one year kae nwalan ako ng work. My question is, pg ba bnyran ko ung 1500 amount ng one time payment pra mging 4k mkkpg renew nko?? Ilng days po bago mgreflect un sa sss ko. Tska mgkno kya mlloan ko if ever. First loan ko is nsa 9k.

  20. Francel Ann B. Sanchez

    Good day!
    I am a payroll employee in a Company here in Iligan City. I just want some clarification about our loan payments. The problem in SSS-Iligan Branch, their not on dated on posting our payments. My co-employees complaining to me that they has still an unpaid loan and it has penalties, they been on SSS-Iligan Branch and they told them to go back to our company because maybe our company doesn’t remitted their payments but our company have papers or a hard copies that signed or received by an employee of SSS-Iligan. Eventhough it was their mistake, I provided a photocopies of all the months that are not posted by SSS-Iligan to my co-employees with a note to apply for all the employees that have a loan of that corresponding months so that it will convenient to them and they will not go back and forth and so on. So its done.

    A month later, still some same issues again, an unpaid loan with the same months problem and they require again to submit photocopies of proof of payments/receipts.

    Why it is that every time a member reapplying or renewing a previous fully paid loan that still an issues?

    Why so late on posting our payments? For an instance, one of my co-employee was fully paid for his/her previous loan last 2014, so he/she ask to reapply new loan, before processing that loan what I do is to make sure to check his/her balance on SSS-Iligan but there’s still an unpaid loan on the statement of accounts given by SSS-Iligan including the posted date which is 2017, the posted date of the loan covers the present month/date/year you check if you have still an unpaid loan. So late and not updated.

    Every time an employee of SSS-Iligan came to our company for an audit or comparing their files to our company’s files, they’re not doing their jobs. They just let us sign on the paper and go as soon as the paper signed and told us that they will go back but never did.

  21. Mam nora ask ko lang po pwede po ba ako mag salary loan kahit 35 palang monthly contribution ko?

  22. Hello po ask ko lang po may sl po ako july 2014, ang first amortization ko po ay january 2015, ang loan ko po ay 27k at ang monthly amortization ko po ay 1,246.. pagka check ko po sa accoun ko ang total posted payments ko po ay nasa 29,903.10 as of july 25,2017.. ang ibig sabihin po ba nyan paid na ako sa loan ko? Kasi ang sabi po skin sa sss may dlwang buwan pa bago ako mkabayad dahil may penalty dw po ako.. pls pakisagot nman po,, slamat

  23. Hi miss nora, ask ko lang if possible bang mabayaran ko ng buo yung na loan ko kahit di pa nagsisimula yung monthly amort ko? thank you in advance. godbless.

  24. yes the sss loan interest rate may be higher but the period at which you are required to pay is much longer compared to bank loans. you are paying for the convenience being given to you to secure money for payment. for bank loans, if you fail to pay on or before the payment deadline, good luck on your penalty.

  25. Hi ms. NORA I would like to ask i had my first loan april 2016 and 1st pay july …naka pag hulog lang ako up until sept because i resign up until now di ko pa nahuhulugan ulit ang loan ko… but my montly contribution is tuloytuloy … pwede ko ba malaman kung pwede ko bayaran this july ang lahat ng past du amount ko para ma reach ko ang 50% pyht para makapag renew ako ulit ilang weeks abg posting if i will pay july 21st… thanks u makaka loan kaya ako ng aug 2017?

  26. May i ask how to compute penalty base on 1% na sinasabi nila from monthly amortization. Sample monthly amortization is 1199.77 from loan amount of 26,000.
    And what if im going to pay the previous and current month. How much will be the remitted..

  27. Goodmorning asked ko lang po paano malaman yung magiging computation sa sss loan kapag meron kang penalty kasama narin po ba ang interest at monthly amortization? paano compyutin po yung tatlo na yan marameng salamat

  28. Hi Mam Nora. Sorry, Ive tried reading comments of this article but cant seem to understand numbers very well.

    I had my loan the first time for 15,000 back in January 2014, then I resigned a month after. I’ve had 2 companies since then but didnt declare SSS loan until December 2015.

    I checked today, January 15, as per SSS website..
    Total Amount Obligation: 11,944.
    Total Amount of Payments for 1 year: 7,960.
    Monthly Amortization: 693.

    I just did basic Math.
    1. Does it mean interest + penalty fees gone up to 4904 (11994 + 7960 – 15,000)

    2. Does it mean I need to pay for 2 more years, as opposed to a supposedly 2-year term? (Company pays)

    3. Also, when I checked SOA last month, Total Amount Obligation was 12,220, last payment considered was November 16. And when I checked it today, Total Amount Obligation is 11,944 being Dec 16 as last payment considered. Does it mean na 256 lang ang nadeduct from the principal, and 434 were the fees and interest?

    Thanks in advance.

  29. Hi anne, since sinabi ng SSS na ico-consolidate pa ang iyong contributions, enroll first in SSS online, so you can check your SSS contributions if they’re all already posted. You need to know your current employer’s SSS no. because you need it when enrolling. Kung posted na lahat, then you can file your loan application through your employer. Your loan amount will be the average of your past 12 monthly salary credits.

  30. hi ms nora, balak ko po magloan sa SSS, magkano po maximum na mkukuha ko? 38months total contribution ko..and kng d pa po naconsolidate un (as per SSS need po paconsolidate,3 na po kc nging employer ko) pwede na po ba ko magloan? thanks po

  31. Hi mike, yes, kung maipon yong penalty, nag-iinterest din siya, so lumalaki. Mag-enroll sa sa SSS online para ma-check mo ang loan balance mo.

  32. hi mam nora ngloan po ako sss firts loan ko po hndi p po ako nkabayad ng june,july,august,october,november, if mgbabayad po b ko ng december n monthly ammortizatio ko tataas prin po b ang penalty sa mga buwan ko n di binayaran.

  33. Hi Princess Grace, yes, ibig sabihin meron kang loan balance at hindi fully paid. Do you still have your old paylips? Check if you have deductions for SSS loan payments. Ibinigay mo ba sa company mo ang SSS loan voucher when you received your loan proceeds? If you have your old payslips, show them to your HR/accounting and ask why your SSS loan was not paid. Show them your SSS online page, if needed, or you can print that loan page.


    * Loan balance is greater than 50% of the total Principal. Outstanding Loan balance : 8,000.00 should be less than or equal to 4,000.00


  35. Hello! May I ask how to compute SSS loan Penalty?

  36. Hi jr, kung patuloy na maximum na 1,760 ang monthly contributions mo, 32k pa rin ang malo-loan mo. Hindi na tataas kasi as of today, 32k pa rin ang maximum loan amount. Yong sa table of contributions kasi, ang maximum monthly salary credit ay 16k, so 16k x 2 months = 32k. Worth up to 2 months lang ang allowed ng SSS for salary loan.

  37. Hi Nora Asked ko lang bali pang tatlo loan ko sss. mag kano kaya makukuha ko loan sa sss? Ung 1st ko loan – 15k
    2nd ko loan – 32k magkano kaya sa makukuha ko 3rd loan ko?

  38. Hi po magkano po ang mababawas sa aking unpaid loans kung mkakaavail po ako sa LRP 20.000 pesos po ang n loan ko noong 2009

  39. hi mam nora, magkano kaya ang maavail ko na loan if total contribution ko ay 29k+ balak ko sana magloan.47 months na nman ako sa sss.

  40. Hi merry, merong loan restructuring program ngayon ang SSS, matatapos sa April 27, 2017. so try your best to apply before the deadline, para mabawasan sa penalties and interests ang iyong loan. Required lang na resident ka sa location na nagkaroon ng kalamidad like Ondoy. Will email you the forms

  41. Hello po nagloan po ako nung year 2012 kaso after po nun, kinailangan ko magresign s work dahil graduating student po ako.. hindi pa po ako nakaltasan sa loan na yun until now dahil po government employee ako at gsis na kinakaltas smin.. Ano po kaya ang magandang gawin mam?Salamat po

  42. Hi Jaho, it’s better that you see the actual amount. How? Enroll in SSS online service. After successful enrollment, here is how to view your SSS loan balance. Pay your loan asap (there’s a penalty condonation program ongoing until early next year. Here’s the SSS Loan Restructuring Application form and rules). If you don’t pay, your penalties and interests will balloon to a huge amount, and this will be deducted from your pension or lump sum. There are cases that there’s no more pension because the pension has been eaten by the huge loan. What SSS does is it will compute the monthly pension, but it will not give the pension to the member. It will use it to pay the loan from month to month to month until the loan is paid in full. Eh kung malaki na yong loan, kelan matatapos?

  43. Hello miss nora nakaloan po me ng 10k last 6 years ago and as i remeber d po me pa nakakabayad sa naloan ko. Ask po magkano na utang ko sa SSS and if d po nyo binayaran ito anu po mangyayari? Salamat po

  44. Hi Ms. Nora,

    I’m a first timer in comp and ben and i overlooked yung 3 employees namin for their loan payment ng April. napansin ko na lang po nung gagagawa na ako ng loan payment for the month of May and hindi sila nabayaran ng April(which is their first payment dapat)Ang ginawa ko na lang po in-add ko na lang lang ang loan amount ng April ang May. Here is my question pano po kami sisingilin ng SSS for the penalty? and stop na po ba ang penalty ng april since nabayaran na namin sya kasama ng May?

  45. Hi! Ms. NOra,

    NO need na po for computation sample coz’ I already have the factor rate table and I’ve got the correct amount.

    Thanks and Regards,

  46. Hi! Ms. NOra,

    Can you show us example how to compute SSS Salary Loan Amortization?
    Example is Php 26,000.00

    Thanks and Regards,

  47. Hi Mildred, is this your own loan payment? Or loan payments by employees in your company? Did you write an incorrect employer name and incorrect employer SSS no. on the SSS form? If yes, you go to SSS and ask how you can correct it. The employees’ payments might be posted correctly later on, but there could be a conflict with the collection list.
    If it’s your individual payment, as long as you wrote your name and SSS no., it will be posted as your loan payment, right? Check your online SSS account if it will be posted. Wait for about 2 weeks, and if not posted, write a letter to SSS to correct the error. Attach your xerox of your payment receipt. If individual payment, you should not write any other name or no. Write only your SSS no., your name and address.

  48. Hi Ms. Nora, what if I paid at metrobank? and it was posted with another employer po? what should I do?

  49. Hi Ms. Nora, salie po ito.

    tanong ko po if magkano po ang magiging interest and penalty ng Loan ko.

    Check Date : 06-01-2009
    Check Number : 16643587
    Check Amount : 21,354.42
    Loan Amount : 24,000.00
    Loan Month : 2
    Monthly Amortization : 1,050.00
    First Monthly Amortization : 08-2009

    nag stop po ako ng payment April 2010 (nag resign po kasi ako)

    nag resume lang po ako ng bayad September 2015 (nagka trabaho napo ulit ako)

    pwede ko kaya i Avail ang L. R. P. ng SSS (taga Laguna po ako)

    kelan po mag start ng computation if ever ma approve ako sa LRP?

  50. Hi Dada, yes, unpaid SSS loans really balloon fast. The annual interest rate is 10%. Penalty is 1% of any unpaid amount due every month. This is where the loan balloons — the penalty is imposed on unpaid principal, unpaid interest and unpaid penalties from month to month. Yes, if you’re in a calamity zone, you can apply for the loan restructuring program.

  51. Hi po. how much is the yearly interest and yearly penalty of Sss loan? I got a loan of 7500 last 2008, now it’s 19500. We plan to apply for Restructuring Loan Program to lessen the penalty and hopefully pay in full the balance. Thanks in advance

  52. Info about SSS loan

  53. Hi Mrs nora, I got an SSS loan last 0ct 2013 amounting 7,000 and I never paid. If I pay now, what’s the amount now?

  54. Hi Laiza, sorry you’re not allowed to renew your loan because your old loan is delinquent. SSS does not do offsetting like Pag-ibig. But when you have money or when a loan penalty condonation is offered, take advantage of it because you loan will balloon to a huge amount, and might wipe out a big part of your pension later on. Enroll in online SSS so you can check your loan eligibility.

  55. Hi Mam, can I avail sss salary loan renewal if I have unpaid sss salary loan amounting to 23,000 on my previous employer? I received my loan last 2012 but I already resigned but continuously contributed from 2013 to present, as of today I have 113 monthly contribution. Can I offset my contribution to deduct my current sss unpaid loan? more or less 45,000.

  56. Hi po,can I renew my loan? I have a 23k loan po with my previous company last 2012 but since I resigned last 2012, and I have not paid it but I continued to pay contributions from 2013 to present. 23 monthly contributions have been added since last march 2012 til present total 113 monthly contributions . can I offset my total contributions to deduct my unpaid loan so I can proceed to renewal of salary loan?

  57. Hi good morning ms. Nora,
    can we have sample computation of unpaid salary loan with interest?

    thank you.

  58. Hi ronald, you must first pay half of your principal, meaning 5k. But pay more because there are penalties and interests. enroll in online SSS so you can check your loan eligibility

  59. Hi andrei, it’s 10% per year or 0.8333% per month. SSS uses the diminishing balance method

  60. how much po is their interest charge per month??

  61. Hi po can I renew my loan? I have a 10k loan po with my previous agency, and I have not paid it but I continued to pay contributions. 40 monthly contributions have been added since last march 2012 when I got my loan.

  62. Hi ms. Nora. I got an SSS loan of 10k in 2012 before I left my job. How much is the interest for the 4yrs I haven’t paid? Thanks po

  63. Hi rachel, yes, 16k is the maximum loan for members who have paid less than 72 contributions (6 years). Your loanable amount will increase after you have accumulated 72 contributions. I’m not sure, but your monthly amortization for 16k could be 738. I used an online calculator. If you have time later on, would you please comment again and inform us how much is your monthly amortization?

  64. hi ms.nora, i’m rachel asis. May I ask regarding my sss loan. my first time to loan. I registered online and upon checking, my salary loan is 16k. Will this 16k not change? second question: if 16k is my first loan, how much is the monthly deduction? thnx

  65. Hi ninky, you can pay maybe 4,800 to cover the first year (369.16 x 12 months = 4429.92) plus 300 for penalty, then continue to pay 369.16 every month for 12 months more. For accurate computation, register with My.SSS to get your online SSS account. Then check your salary loan balance.

  66. Hi po, I got an 8k loan oan from SSS and my monthly is 369.16. I failed to pay for 1 year. How much is the interest if ever I pay it in full? thanks po

  67. Hi Ulysses, yes, you’re right, and thanks for commenting. Compared to major credit card cash loans which add only 0.56 or 0.7 or 0.99% interest per month, that 4,500-peso interest for 2 years is for a loan of 39,000 if through BPI’s Balance Transfer. What’s also making life hard for many members is the interest for unpaid loans. We understand that SSS needs to earn money for members, but we also feel so bad about members failing to pay their loans when they lose their jobs, then find out later that their loans have ballooned to super big amounts.

  68. Hi, Good Morning! Thank you for further explaining. I manually calculated the interest amount using basic math (interest rate/number of months) multiple by the amount left unpaid per month. sa 20,000 within 2 years almost 4,500 pesos din. malaki at mabigat din yan.

  69. Hi charon, sorry but SSS does not do offsetting. SSS is not like Pag-ibig where the final benefit is the total of contributions and dividends. SSS does not add up total contributions to compute pension. It uses a formula based on the average monthly salary credit and no. of years that the member contributed.
    Your sister has to start paying her loan because if she does not, her retirement lump sum or retirement pension later on will be used to pay for her loan.

  70. my sister availed of an SSS loan in 2005 for 24k. today, upon inquiry, it rose to 55k. may i just ask if offsetting is available for sss? in offsetting, i mean, can her loan balance be deducted from her total contributions now? so as to stop incurring any charges and penalties?

  71. Hi Jasmine, you can pay your loan by yourself. You can pay at Bayad Center. Any amount, but it’s better if you pay much more than the monthly amortization. Write your name, SSS (Biller), SSS no. and address. Check “Short Term Loan” and write Salary Loan on “Loan Type”. You can also pay at SSS — fill up the ML1 form (do not write on “Employer ID Number. Write your SSS no. Write your name and address on “Employer’s Registered Name & Address”. Write E over R so it will read “Employee’s). Check your loan balance on your online SSS account from time to time to see your outstanding balance.

  72. Hi Ms Nora, the last time ive checked, here’s the details of my existing unpaid 24k loan:
    Principal : 17,000.00
    Interest : 5,950.12
    Penalty : 8,626.71
    Total Amount Due : 31,576.83
    …and when I check the loan eligibility tab online, it shows:
    * Loan balance is greater than 50% of the total Principal. Outstanding Loan balance : 17,000.00 should be less than or equal to 12,000.00…
    —does this mean I can pay 5,000 so I can renew my loan? Or do I need to also pay the interest and penalty? Can they not deduct the interest and penalties from my total accumulated values/contributions? Thanks in advance.

  73. Hi Im Jasmine Nanong i had my 3rd SSS Salary Loan last November 2014 amounting to 23,000 plus. Unfortunately i leave my previous company last June 2015 and got employed only last August 2015. My current company wont allow me to transfer my previous loan and deduct it through my salary can you help me what to do also how much is the total penalty i already have.

  74. I loaned last year 15,700 something then after 2 months I paid 7k and after 4 months I paid 9k somthing. I thought it had no more interest as it was 24 months to pay but I paid in less than a year in 2 gives. When I came home, I checked my status and saw a balance of 5,699. I was told it was interest for the months I haven’t paid. How much was the monthly interest?

  75. if 16 k po papahiram nila sakin, magkno po interest nun?

  76. hello po, question po, my first time to get an sss loan:
    1. LOAN AMOUNT PhP 16,000.00
    a. Service Fee (1% of loan amount) PhP 160.00
    b. Balance of previous loan, if any PhP 0.00
    3. NEW PROCEEDS OF LOAN (items 1 less item 2) PhP 15,840.00

    Month Amortization Interest Principal Outstanding Principal Balance
    0 PhP 0.00 PhP 0.00 PhP 0.00 PhP 16,000.00
    1 0.00 0.00 0.00 16,000.00
    2 738.32 133.33 604.99 15,395.01
    3 738.32 128.29 610.03 14,784.99
    4 738.32 123.21 615.11 14,169.88
    5 738.32 118.08 620.24 13,549.64
    6 738.32 112.91 625.41 12,924.24
    7 738.32 107.70 630.62 12,293.62
    8 738.32 102.45 635.87 11,657.75
    9 738.32 97.15 641.17 11,016.58
    10 738.32 91.80 646.51 10,370.06
    11 738.32 86.42 651.90 9,718.16
    12 738.32 80.98 657.33 9,060.83
    13 738.32 75.51 662.81 8,398.01
    14 738.32 69.98 668.34 7,729.68
    15 738.32 64.41 673.90 7,055.77
    16 738.32 58.80 679.52 6,376.25
    17 738.32 53.14 685.18 5,691.07
    18 738.32 47.43 690.89 5,000.18
    19 738.32 41.67 696.65 4,303.53
    20 738.32 35.86 702.46 3,601.07
    21 738.32 30.01 708.31 2,892.76
    22 738.32 24.11 714.21 2,178.55
    23 738.32 18.15 720.16 1,458.38
    24 738.32 12.15 726.17 732.22
    25 PhP 738.32PhP 6.10PhP 732.22PhP 0.00
    I can’t understand what those on the left means, please help

  77. Hi Ms. Nora,
    Good afternoon, ask ko lang kung anong computation ng monthly premiums na na skip ng 1 month di nabayaran? may penalty po ba ang monthly premiums?

  78. Hi tanung q lng poh about s loan balance q ang amortization q ai 461 bale nakahulog n poh aqo ng kalahati ndi q poh alamkng ilan nlng balance q nung nagresign aqo..last payment q sss loan q january 2013.ilan n poh interest nun

  79. Hi, what if I lost the voucher needed to be given to our hr department. Had no idea it should be given to hr. Didn’t read it. What’s the alternative that I can give to hr so they can deduct my loan payment through payroll. thanks!

  80. Hi Antonina, sorry I don’t know when they’ll launch another condonation program. Even the SSS officers answering questions on the SSS Facebook page say they don’t know. I hope you can save fast so you can pay off your loan. Take care and may God give you more strength and resources.

  81. Last 2005 I loaned, I was able to pay only 3500.00 then I stopped payment for some personal reason. In 2010 I resigned to care for my child who has cerebral palsy. I wish to pay my delinguent loan, Can I avail of condonation to reduce the interest. Will there be another condonation? I want to settle my problem.

  82. may loan asawa ko loan amount 7000. amortization,306.25 noong last dec. 2011

    last check namin april 2015
    total obligation-6033.61

    naghulog po unang company nya ng 306.25 for 6 month. feb-jun2012. total of- 1837.50
    ung company nya ngaun nag huhulog ng 598.72 for 11 moth base sa bibigay nilang copy of report. mula april2014-april2015. total of 6585.92
    KUNG Pagsasamahin ung hulog aabot ng 8423.42

    tanong ko lng po.
    pano po makukuha ung subrang bayad if ever?
    isa pa pong problem d po kc d update ung pag pasa nila ng report sa sss. parang itong april lng nila na confirm na ksama asawa ko sa nahuhulogan nila monthly. pano po kya namin malalaman kung clear na sya. at pwd na sya ulit mag loan.

  83. Hi Jermane, yes, I think so. SSS now uses the diminishing principal balance formula for interests and penalties, so it will still be okay if you miss the payments, as long as you pay them asap when you have the cash. God bless you too!

  84. so my new employer can deduct the month of sept. as im going to pay the july-aug. amort. and penalty direct to SSS. im just waiting my back pay po so i can pay the july-aug. amort. is that allowed? skip july-aug. payments because it could be next month I’ll be able to pay. my employer will start deducting for the month of sept. is that possible po Ms.Nora thank you again for the answers. Godbless you more. 🙂

  85. Hi Jermane, penalty is 1% of amount due per month. Pay 507.59 x 2 = 1015.18 plus penalty of 1% of amount due (about 11 pesos). If you like exact amount, you pay at SSS, fill up the RS5 form and ask the cashier to compute the penalty.

  86. Hi Ms.Nora how much is the penalty if since july 2015-sep.2015 I have not paid? 507.59 po is my monthly amortization. I have a new employer po and I don’t want them to deduct from july-aug.2015. I prefer paying it myself at SSS so as not to confuse my employer. thanks in advance po. God bless.

  87. Hi Raissa, yes, your actual date of payment should be the date considered in the computation of the interest and penalty. But I suggest that for this last amount, you go to SSS and ask for your balance, and then pay at the SSS cashier the balance immediately after, the same day. Then later on, write SSS a letter of complaint about your payments. The reason for this is that it’s better to overpay your loan for a little amount at the moment (to bring your balance to zero or negative) rather than let the penalty and interest accumulate while you complain. SSS can refund, if it sees its error later on. We experienced this years before — it was so stressful and wasteful going back twice and complaining without any result, as the 90 pesos balance increased, so finally, we just paid the 121 pesos we believed we did not owe.

  88. Hi Ms. Nora, Recently I went to SSS to ask for my Loan balance, then I paid immediately about 4k to have it updated up to september coz the one at SSS told me the balance will increase the day after. I paid through bayad center which took about 3 days to post, and then now it was posted and there’s an 85php overdue interest, which is for me I should not have to pay. Is that correct? It should no longer have an overdue interest and they should acknowledge the date when I paid. Thanks for your advice.

  89. Hi Mildred, I emailed you

  90. Good day Ms. Nora, Ask ko lang po? My monthly Amortization is 1,153.62 but unfortunately di ko agad nabayaran? how much po ang interest start ng April 2015 until June 2015?.Hoping for your immediate response.Thaks!

  91. Hi jeff, add your last 12 posted average monthly salary credits and divide by 12. That will be your loan amount. For example, if your last 12 posted contributions were all 1,650 (545 employee share, 1,105 employer share), your average salary credit will be 15,000. Your loan amount will most likely be 15,000 pesos.

  92. Gud am How much would be my loan amount if I have 47 contributions. How do I compute? tnx.

  93. Hi Cheenee, yes the penalty is 1% of the amortization due per month, specifically, total amount of loan collection list for the month x 1%. I just don’t know if SSS computes cumulatively, or just simple penalty computation and multiplication by no. of months, in case of delayed payments for several months. I think what is usually done is for you to bring your unpaid loan collection lists and ask the SSS teller (of your company’s SSS branch) to compute and sign.

  94. Hi Mrs Nora, how do we compute the penalty for sss loan? our employer will pay the penalty because they were delayed in payment. I’m in Hr. What should we do? there are almost 110 employees. Our employer is willing to pay. We just need the formula. Is it 1% every month of the amortization? I hope you can help us. Thanks a lot

  95. Hi Julie Ann, your balance is still more than 50% of the loan amount, so you’re not yet eligible. Pay maybe one more amortization to be eligible for renewal. About your balance, there’s interest (0.833%) and penalty (1%) for late payments. Check also if all your payments have already been posted, as employers file the collection list quarterly, not monthly.

  96. Hi Mam,
    Please help me kasi hindi ko alam bkt hnd pa ako eligible mag renew ng loan eh base naman po sa total amount of payments ko half na (50%) nabayaran ko.Bale eto po details

    Loan Amount : 14,500
    Monthly Amortization : 669.10
    First Monthly Amortization : December 2013

    Kasi po nag MartenityLeave po ako ,so 5 months po na hnd nkabayad ng Monthly Amortization (from August to December 2014) Pero nung January 2015 up to the present updated na po bayad base on the record nung chineck ko thru on line Total Payment ko na is 9,367.40 which is kung ideduct ko po ung (669.10 x 24 = 16,058.4 – 9,367.40 = 6,691 na lang po dapat ung balance ko.Magkano po ba ung interest sa 5 mos na hnd ako nkabayad during my Maternity Leave.kasi base sa record ang babayaran ko pa 7,834.23.bakit parang ang laki naman po ata ng interest ang alam ko 1% per month lang.Pa help naman po.saka nka 14 monthly amortization ko which means pde na sna ako magrenew ng loan.hindi ko lang kasi makuha panu computation.

  97. Hi Chito, sorry I don’t know when the next loan penalty condonation will be, as these programs are decided by top SSS officials. If you’re still young, you can probably wait, but if you’re nearing retirement age, I think you should start paying it off. And even if you decide to wait, I suggest you make some payments, as the last condonation program required at least 3 monthly payments to qualify for condonation.

  98. Chito J. Berdera Jr.

    Hi Nora, Im Chito,i think i got big problem on my loan,its was way back 1997 for only 3k loan amount.because of some circumtances,my company before had paid only once.i check it online and it blew to 16,438.i know its my fault, but can you give me a suggestion.can you give me info on when the condonation will be available.thanks so much and God Bless.

  99. Hi Jackie, you can email and ask for the amount of your balance. Include your complete name, SSS no., date of birth, loan amount and date and estimated payments. You can also try registering online at, but you should have a recent transaction no. (receipt for a recent contribution payment), and you must register at non-peak time (dawn hours), as most of the time now, the SSS website is too busy.

  100. Hi Ms. Nora! I just wanted to know what should be the total amount I should pay for my SSS Salary Loan. My total loan amount was 13.5k on 2012. The first monthly amortization should begin on 4/2012 but I went abroad and was just able to start paying my loan on December 2013. As of now, I was able to pay more than 10k to my loan. I just want to know how much should I still need to pay for my loan. TIA!

  101. Hi Shiela, commit to pay off your loan, as this will be deducted from final benefits. You can visit the nearest SSS branch with your ID and ask for your loan balance. Or you can register online (midnight or dawn) so you can see your data and loan balance. You can pay any amount from month to month until you pay off your loan. Of course, the bigger monthly payment, the better.

  102. I have unpaid loan in sss since 2005. I was told that I need to get a voucher from sss way back 2007 when I transferred from another employer which I was not able to do since sss systems are always down whenever I try to visit. I was not able to get a voucher then and I believe that my loan has gained a lot of interests. What will I do?

  103. Hi Mae, you’re partly correct. But not all of the 830.61 that you paid monthly was deducted from the principal loan of 18k. You also paid monthly for interest. SSS now uses the diminishing balance formula. I used an online diminishing balance calculator, and your balance after 16 months of payments should be 6,395. I’ll get back to give you a link to a sample computation later on. If you have time, you can visit SSS and ask for a computation of your loan balance (present your list of payments and payment dates).

  104. Hi Ms.Nora, may i know how does the Company compute the remaining balance to pay to SSS.Last Nov.2013 my amount of loan is 18,000.00.from January 2014-April 2015 i paid it at amount of 830.61 monthly amortization.Now, i will resign and i don’t know exactly the remaining balance to pay to SSS which is the company deduct it to my Last Pay. My own version of computation is Jan.2014-April2015 (16months) at 830.61 monthly. (830.61 X 16 = 13,289.76) My amount of Loan is 18,000.00 – 13,289.76 = 4,710.24. Is it correct or not?Thanks and GODspeed.

  105. Hi Rain716, yes, you’re right, because you paid the correct amount in full before due date. You can write a letter to SSS requesting them to remove the penalties and interests imposed on your loan dated __ because you paid in full before due date __ the amount __ computed when you applied for loan condonation on __. Attach a copy of your loan condonation application and your payment receipt. Xerox these docs and have them stamped-received by SSS.

  106. Hi Ms. Nora, I availed of an SSS loan last 09/2009 and 3 monthly amortization was made thru my company. Payment was not made after that since I resigned. Then last 09/2012 I availed of the SSS loan condonation program under situation 2. I was approved and paid the total amount indicated in full before the required due date of 09/30/2012. I was not able to check it until last Sept 2014 and found out that the payment I made was not posted. After several visit to SSS, they finally posted the payment last 01/2015 but upon checking, there is still amount due with penalty and interest. Is it supposed to be 0 since I paid the amount they computed when i availed the condonation?

  107. How much will be my sss salary loan which I did not pay since march 2010?? My original loan is 20 k. I sm an Ofe, I want to pay my loan here in Riyadh,saudi there authorized bank here to pay my sss salary loan??

  108. Ms. If I decided to pay my loan on my behalf not through my employer, I can pay quarterly without penalty?

  109. Which means Maam I will see my penalty on the first quarter since I didn’t pay my first amortization scheduled this January?

  110. Hi Jaype, employers are required to remit employees’ loan payments and contribution payments monthly (or or before the __th day of the following month depending on the 10th digit of the employer’s SSS no.). Collection list is filed every quarter (this is the reason loan and contribution payments are posted on members’ online accounts only after the quarter)

  111. Thanks Ms. for confirmation, employer also remit payment on salary loan every quarterly same as on the contribution?

  112. Hi Jaype, is it written in your voucher that your start of amortization is Jan 2015? Meaning your loan check was dated Nov 2014? And do you mean your first pay with your new employer is on Feb 15? If so, then yes, ask for deduction for your full Jan amortization, and on Feb 28, your full Feb amortization. By your last pay in March, you should have been deducted 3 monthly amortizations, so that your employer can report 3 paid amortizations in April. But of course, ask your new HR.

  113. It means Ms that my pay on feb 15, i’ll ask for deduction for my full amortization? then on feb 28 full deduction also for the month of february to fill the gap? thanks

  114. Hi Jaype, request your direct employer to deduct your full Jan amortizations this Jan 31 payroll. Submit a copy of your SSS loan check voucher. A penalty might appear on your online account, but this will be removed once your direct employer submits its loan collection list for the Jan-to-Mar quarter in April

  115. Hi Ms, when will the sss post the penalty in salary loan payment? this January is the start of my amortization, but I was absorbed from agency to direct. I was absorbed January 16, that’s why the agency told me they no longer deducted for sss loan payment. Will they post my penalty by February?

  116. Hi che, sorry I’m not very familiar with LMS, but I’ve read that after saving your new loan file, you locate your new loan file in the folder where you installed your LMS program. Look for a .txt file with ___1411.txt (year and month). After finding the file, send it to your USB or copy it to your USB. Will send you the manual after I find it

  117. gud am dis is che from taytay doctors maternity. i have some problem in saving doc on usb of are sss loan contribution of are employee, can u email me manual how to process posting and saving sss loan contribution in usb thank you for your immediate action on this matter che tdmh

  118. Hi popoi, the penalty for past due is 1% per month. I used 2 online calculators and the total penalty is either 476.78 or 435.87. The final total amount depends on the formula being used by SSS.

  119. How much is the interest of my loan, which i have not paid for 16 months. 371.87 is my monthly deduction. Thanks

  120. Hi christian, previously, SSS required loan applicants not to have delinquent loans. I’m not sure if that’s still a requirement. But these days, their main requirements are 2: you have paid at least half of your loan and 1 year has passed since date of loan check. After updating your payments, check your loan eligibility at (I hope the site will be already fully functioning when you check). Penalty is 1% of amount due for the month. Every penalty is added to the current due and then to the next due, with the total again charged with penalty, and so on (cumulative).

  121. Hi, may i ask, i have an outstanding loan with sss. last payment is November 2012. i moved to another company. any idea how much the penalty is? also,since i had it fixed by my company,is it possible to renew my loan? thanks

  122. Hi irish, the penalty is 1% per month, so .01 x 252.62 = 2.5262. So when you pay this Oct, pay 3 x 252.62 plus maybe 8 pesos. Don’t worry about paying more — any excess will be deducted from your principal loan.

  123. Hello, I got a loan from SSS. My first payment should have been August but i wasn’t able to pay it. How much interest should I pay on 6,000.00 and monthly amortization of 252.62? Thanks. God Bless.

  124. Hi Larry, submit your SSS loan voucher to your new employee so they’ll know how much to deduct. If you lost it, enroll in online SSS so you can check your records and print your loan balance. Submit this printout to your HR and tell them your monthly amortization amount.

  125. Inquiry about my SSS salary loan, since I renew my salary loan in my previous company and some of circumstances i was able to resign,my problem is how can I pay my monthly amortization to pay my loan with my new employer.thanks

  126. Hi letlet, sorry, no idea, but we hope there’s another one next year. Email SSS requesting for another condonation program — to add to other letters requesting the same, so SSS might be persuaded. Meanwhile, start saving for payments or making some payments.

  127. hello idea po ba kau kung kelan uli ung penalty condonation program nila?mtagal nrin kc ung loan ng asawa ko na hindi nabayaran kc nwalan cya ng trabaho nun.

  128. Hi jennifer, I wished you were able to take advantage of the penalty condonation program offered by SSS last year. You can continue paying any amount you’re able to pay, and then hope for another penalty condonation program next year, so the penalties will be reduced. Have you enrolled in My.SSS? So you can track your payments. Do your best to pay your loan so your pension will not be severely reduced or wiped out. More power to you too.

  129. Sir, please help., I just want to know how much must be my salary loan’s interest and penalty as of now. I had my salary loan with these details:
    Check Amount : 18,690.00
    Loan Amount : 21,000.00
    Loan Month : 2
    Monthly Amortization : 918.75
    First Monthly Amortization : 04-2009
    unfortunately, there was this typhoon Milenyo., the company told us that we can ask the SSS through letter to postpone the start of our monthly amortization by 6 months without penalty.
    in other words, i just did what the company told us…but due to personal reasons, i resigned from the company and i left my sss loan without paying.
    It was only last april 2013 that i started the repayment of my sss loan…please sir, I hope you could help me..thank you in advance and more power!

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