Understanding SSS Loans in the Philippines
The Social Security System (SSS) is a government agency in the Philippines that provides social insurance and financial services to private sector employees, self-employed individuals, and voluntary members. Our SSS loan calculator Philippines helps you understand the costs and requirements for SSS salary loans, including both 1st loan and 2nd loan options available to members.
SSS Loan Calculator 2025
Our SSS loan calculator 2025 is updated with the latest interest rates and loan terms for the current year. The calculator helps you estimate your monthly payments, total interest, and eligibility based on your monthly salary. Whether you're applying for your first SSS loan or your second loan, our calculator provides accurate estimates to help you make informed financial decisions.
The SSS loan calculator Philippines monthly feature allows you to see your monthly payment obligations and understand how your loan will be amortized over time. This is particularly useful for budgeting and financial planning.
SSS Loan Calculator 1st Loan
The SSS salary loan 1st loan is available to active SSS members who have made at least 36 monthly contributions, with 6 contributions within the last 12 months before the month of application. The loan amount is typically based on your Monthly Salary Credit (MSC), which is the basis for your SSS contributions.
Using our SSS loan calculator 1st loan helps you determine the maximum loan amount you can borrow, which is typically up to 24 months of your MSC, with a maximum of ₱100,000. Interest rates for 1st loans typically range from 10% to 12% per annum, with repayment terms of 12, 18, or 24 months.
The calculator helps you understand your monthly payment obligations and total interest costs. It also provides eligibility assessment based on your monthly salary, ensuring that your loan payment does not exceed 35% of your gross monthly income.
SSS Loan Calculator 2nd Loan
The SSS salary loan 2nd loan is available to members who have fully paid their 1st loan. To be eligible for a 2nd loan, you must have completed all payments for your first loan and meet the same contribution requirements as the 1st loan. The loan amount and terms are similar to the 1st loan, typically up to 24 months of your MSC, with a maximum of ₱100,000.
Our SSS loan calculator 2nd loan helps you estimate your monthly payments and total interest for your second SSS loan. The calculator considers that you may have different financial circumstances than when you took your first loan, and helps you assess your current eligibility based on your updated salary.
It's important to note that you cannot apply for a 2nd loan while your 1st loan is still outstanding. The SSS requires that all previous loans be fully paid before you can apply for a new loan.
SSS Loan Calculator Excel
Our SSS loan calculator Excel export feature allows you to download your amortization schedule as a CSV file, which can be opened in Microsoft Excel or Google Sheets. This feature is particularly useful for:
- Keeping records of your loan payments
- Planning your budget based on monthly payments
- Tracking your loan progress over time
- Sharing loan information with financial advisors or family members
- Creating custom financial reports
The Excel export includes all the details from your amortization schedule, including payment number, month, payment amount, principal portion, interest portion, and remaining balance for each month of your loan term.
SSS Loan Calculator Philippines Monthly
The SSS loan calculator Philippines monthly feature provides detailed month-by-month breakdown of your loan payments. This helps you understand:
- How much of each payment goes toward principal vs. interest
- How your loan balance decreases over time
- Your remaining balance at any point during the loan term
- The total interest you'll pay over the life of the loan
This monthly breakdown is essential for financial planning and helps you see the true cost of borrowing. It also helps you understand how making extra payments or paying off the loan early can save you money on interest.
Loan Amount and Eligibility
The SSS loan amount is based on your Monthly Salary Credit (MSC), which is determined by your monthly contribution. The maximum loan amount is typically up to 24 months of your MSC, with a cap of ₱100,000. However, the actual loan amount you can borrow depends on several factors:
- Your Monthly Salary Credit (MSC)
- Your capacity to pay (monthly payment should not exceed 35% of your salary)
- Your contribution history (at least 36 monthly contributions required)
- Whether you have any outstanding SSS loans
Interest Rates and Terms
SSS salary loans typically have interest rates ranging from 10% to 12% per annum, depending on the loan term and current SSS policies. The loan terms available are:
- 12 months: Short-term option with higher monthly payments but lower total interest
- 18 months: Medium-term option balancing monthly payments and total interest
- 24 months: Long-term option with lower monthly payments but higher total interest
Our calculator helps you compare these options and choose the term that best fits your financial situation.
Benefits of Using Our SSS Loan Calculator
Whether you're using the SSS loan calculator for 1st loan or 2nd loan, our tool provides several benefits:
- Accurate monthly payment calculations based on current SSS rates
- Real-time eligibility assessment based on your salary
- Detailed amortization schedules showing principal and interest breakdown
- Excel/CSV export functionality for documentation and planning
- Easy comparison of different loan scenarios (12, 18, or 24 months)
- Support for both 1st loan and 2nd loan calculations
- Updated for 2025 with latest rates and terms
How to Use the Calculator
Using our SSS loan calculator is simple:
- Select whether you're applying for a 1st loan or 2nd loan
- Enter your desired loan amount (up to the maximum based on your MSC)
- Enter the interest rate (typically 10% to 12% per annum)
- Select your preferred loan term (12, 18, or 24 months)
- Enter your monthly salary for eligibility assessment
- Select your loan start date
- Review the results, including monthly payment, total interest, and eligibility status
- View the amortization schedule to see month-by-month breakdown
- Export to Excel/CSV if needed for your records
Important Reminders
Before applying for an SSS loan, keep in mind:
- You must be an active SSS member with at least 36 monthly contributions
- You must have 6 contributions within the last 12 months before application
- For 2nd loan, your 1st loan must be fully paid
- Loan payments are typically deducted from your salary or pension
- Late payments may result in penalties and affect your eligibility for future loans
- Always verify loan terms and eligibility directly with SSS before applying
Start using our SSS loan calculator 2025 Philippines today to plan your loan application and understand your financial obligations. Remember to verify all calculations and eligibility requirements directly with SSS before submitting your loan application.