Loan
SSS Loan Calculator
Calculate your SSS (Social Security System) salary loan amortization. See your monthly payment, total interest, and total cost for SSS loan terms.
SSS Loan Calculator
Compute your SSS salary loan amortization, total payment, and total interest.
How This Tool Works
How It Works
The SSS Salary Loan is a benefit for SSS members. This calculator computes the monthly amortization and total cost.
SSS Loan Details
- Interest Rate: 10% per annum (standard rate)
- Term: 24 months (standard)
- Max Loan: Based on your monthly salary credit and contributions
Formula
monthlyRate = annualRate / 12
totalInterest = loanAmount × monthlyRate × termMonths
totalPayment = loanAmount + totalInterest
monthlyAmortization = totalPayment / termMonths
Good to Know
SSS salary loans use simple interest calculated on the original principal. The effective rate is higher than the stated 10% annual rate.