SSS Salary Loan Calculator
See how much you can borrow, the cash you'll actually receive after the service fee, and your monthly payment.
Estimate your SSS salary loan
| Loanable amount | |
|---|---|
| − 1% service fee | |
| Net proceeds | |
| Monthly payment (24 months) | |
| Total interest |
Estimate based on SSS rules: loanable = your average of the latest 12 MSCs (×2 for a two-month loan), a 1% service fee deducted upfront, 10% per annum interest on a diminishing balance, payable over 24 months. The maximum is ₱70,000. Your actual MSC average and eligibility are per your SSS records.
How the SSS salary loan works
- Loanable amount: the average of your latest 12 Monthly Salary Credits (×2 for a two-month loan), up to a maximum of ₱70,000.
- Service fee: 1% is deducted upfront, so your net proceeds are slightly less than the loanable amount.
- Interest: 10% per annum on a diminishing balance.
- Term: 24 equal monthly installments (2 years).
Eligibility
- One-month loan: 36 posted monthly contributions, 6 within the last 12 months.
- Two-month loan: 72 posted monthly contributions, 6 within the last 12 months.
Worked example: a ₱20,000 average MSC
Take a member whose latest 12 Monthly Salary Credits average ₱20,000 — the calculator's starting value. A one-month loan works out like this:
- Loanable amount. One month of the MSC average = ₱20,000.00.
- Service fee. 1% of that = ₱200.00, deducted before release.
- Cash you receive. ₱20,000.00 − ₱200.00 = ₱19,800.00.
- Monthly payment. The full ₱20,000.00 is amortized at 10% a year on a diminishing balance over 24 months = ₱922.90 a month.
- Total interest. ₱922.90 × 24 = ₱22,149.56, so interest is ₱2,149.56.
Note the asymmetry in steps 3 and 4: you receive ₱19,800.00 but repay interest on ₱20,000.00. Measured against the cash that actually reached you, the loan costs ₱2,349.56 over two years — the interest plus the service fee you never got to spend.
Loanable amount by MSC
Everything scales directly with your MSC average, so the whole table is just that number run through the same rules. A two-month loan doubles every figure in this table — loanable amount, service fee, net proceeds, monthly payment, and interest all exactly twice the one-month amount.
| Average MSC | Loanable (1 month) | 1% fee | Cash received | Monthly for 24 months | Total interest |
|---|---|---|---|---|---|
| ₱10,000 | ₱10,000.00 | ₱100.00 | ₱9,900.00 | ₱461.45 | ₱1,074.78 |
| ₱15,000 | ₱15,000.00 | ₱150.00 | ₱14,850.00 | ₱692.17 | ₱1,612.17 |
| ₱20,000 | ₱20,000.00 | ₱200.00 | ₱19,800.00 | ₱922.90 | ₱2,149.56 |
| ₱25,000 | ₱25,000.00 | ₱250.00 | ₱24,750.00 | ₱1,153.62 | ₱2,686.96 |
| ₱30,000 | ₱30,000.00 | ₱300.00 | ₱29,700.00 | ₱1,384.35 | ₱3,224.35 |
| ₱35,000 | ₱35,000.00 | ₱350.00 | ₱34,650.00 | ₱1,615.07 | ₱3,761.74 |
The MSC is capped at ₱35,000, so the largest possible loan is the two-month version of the last row: ₱70,000.00 loanable, ₱69,300.00 released, ₱3,230.14 a month, and ₱7,523.48 of interest — ₱77,523.48 repaid in total, or ₱8,223.48 more than the cash you received.
Why 10% here beats "1.5% a month" elsewhere
The SSS rate is quoted on a diminishing balance: interest is charged only on what you still owe, so it shrinks every month as you pay the loan down. Most Philippine personal and app loans instead quote a monthly add-on (flat) rate, which charges interest on the full original amount for the entire term regardless of how much you have repaid. The two are not comparable numbers, and mixing them up is the most expensive mistake a borrower can make. Here is the same ₱70,000 over 24 months, priced three ways:
| How the rate is charged | Monthly payment | Total interest | Total repaid |
|---|---|---|---|
| SSS: 10% a year, diminishing balance | ₱3,230.14 | ₱7,523.48 | ₱77,523.48 |
| The same 10% a year charged flat (add-on) | ₱3,500.00 | ₱14,000.00 | ₱84,000.00 |
| A typical 1.5% per month add-on loan | ₱3,966.67 | ₱25,200.00 | ₱95,200.00 |
The middle row is the point: change nothing but the method, and the identical 10% costs ₱14,000.00 instead of ₱7,523.48 — close to double. And a headline "1.5% a month" from a lending app, which sounds modest, costs ₱25,200.00 on the same loan: more than three times the SSS figure. When you compare offers, ask which method applies before you compare the numbers at all. Our personal loan calculator lets you switch between the two on your own figures.
What this calculator assumes
- Your MSC average is the one on record. The calculator uses the figure you type; SSS uses the average of your latest 12 posted contributions, which can lag if an employer has not remitted.
- The 1% service fee and nothing else. No other charges are modelled, and no penalties for late or missed payments.
- 24 equal on-time payments at 10% a year on a diminishing balance, with no pre-termination.
- Eligibility is not checked. The contribution counts above determine whether you qualify for a one-month or two-month loan; the calculator will happily compute either.
Common mistakes
- Comparing SSS's 10% with a lender's monthly add-on rate. One is annual and diminishing, the other monthly and flat — as the table above shows, they are wildly different loans.
- Budgeting from the loanable amount. The cash released is 1% smaller, so a plan that needs exactly ₱20,000.00 comes up ₱200.00 short.
- Forgetting it is a two-year commitment. ₱922.90 a month for 24 months is a fixed claim on your pay — check it against your take-home pay before applying.
- Taking the two-month loan by default. It doubles the payment as well as the proceeds; borrow the one-month amount if that covers the need.
Frequently asked questions
How much is the monthly payment on a ₱70,000 SSS salary loan?
₱3,230.14 a month for 24 months. That maximum
is released as ₱69,300.00 after the ₱700.00 service
fee, and you repay ₱77,523.48 in total, of which
₱7,523.48 is interest.
Why is my approved amount different from this estimate?
The loanable amount is based on your average posted MSC over the latest
12 months, not your current salary. Unremitted or missing contributions, a
recent salary change, or a period of non-payment all move the average, and
eligibility depends on your total posted contributions.
Is the interest computed on the cash I receive?
No — on the full loanable amount. You receive ₱19,800.00 on a
₱20,000.00 loan but pay 10% a year on ₱20,000.00, so the true
cost relative to the money in your hands is slightly above the headline rate.
Should I take an SSS salary loan or a personal loan?
If you qualify and the amount is enough, SSS is usually the cheaper option by a
wide margin — see the three-way comparison above. A personal loan makes sense
when you need more than ₱70,000.00, need it faster, or do not have the
required posted contributions. Compare options in our
best personal loans guide.
Does the two-month loan cost more per peso borrowed?
No. Every figure simply doubles — the fee, the proceeds, the monthly payment,
and the interest — because it is the same rate, term, and rules applied to twice
the principal. The question is only whether you can carry twice the monthly
payment for two years.
Not sure of your MSC? Check the SSS contribution table or your SSS contribution. Comparing with other options? See the best personal loans, the personal loan calculator, or the home loan calculator if you're borrowing for a property.
Last updated: 2026-07-08. Based on SSS salary-loan rules (RA 11199). Your exact loanable amount and eligibility depend on your posted SSS contributions. Not financial advice — confirm with SSS.