SSS Salary Loan & Pag-IBIG Loan Calculator
Before you borrow, see the real numbers: your monthly payment, the total interest, what you actually receive after fees, and how much cheaper it is than a credit card. Works for the SSS Salary Loan, the Pag-IBIG Multi-Purpose (cash) Loan and the Pag-IBIG Housing Loan.
Default rates: SSS Circular 2025-004 for SSS, HDMF Circular 469 for the MPL, and Pag-IBIG's published housing loan rates. Your loan disclosure statement is what counts, so you can change the rate.
Total interest: ₱1,709 over 24 months.
Terms at a glance
| Loan | Rate | Term | Example |
|---|---|---|---|
| SSS Salary Loan | 8% a year + 1% service fee | 24 months | ₱20,000 → ₱905/month |
| Pag-IBIG Multi-Purpose Loan | 10.5% a year | 12, 24 or 36 months | ₱30,000 → ₱1,391/month (24 mos) |
| Pag-IBIG Housing Loan | 6.5%–9.75% by fixing period | Up to 30 years | ₱2,000,000, 25 yrs → ₱13,504/month |
Before you borrow
- Borrow for needs, not wants. Paying off a 3%-a-month credit card with an 8%-a-year SSS loan saves money; borrowing for gadgets doesn't.
- Check the payment against your sweldo. The deduction shows on every payslip until it's paid; plan it into your budget until payday.
- Keep paying on time. Late SSS and Pag-IBIG payments add penalties, and unpaid SSS loans are deducted from future benefits.
- Compare with other offers. See the true cost of app and bank loans in the loan cost checker.
Frequently asked questions
What is the interest rate of the SSS Salary Loan?
8% a year on the diminishing balance, paid in 24 monthly installments, with a 1% service fee deducted from the loan proceeds (SSS Circular 2025-004, as of October 2026). A ₱20,000 loan is about ₱905 a month. Your SSS disclosure statement shows the exact rate and amount.
How much can I borrow from the SSS Salary Loan?
It depends on your posted contributions: a one-month loan needs at least 36 monthly contributions and a two-month loan at least 72, with 6 posted in the last 12 months. The amount is based on the average of your recent monthly salary credits. My.SSS shows your exact loanable amount.
How much is the Pag-IBIG Multi-Purpose Loan interest?
10.5% a year, payable in 12, 24 or 36 months (HDMF Circular 469). You can borrow up to 90% of your total Pag-IBIG savings (your contributions, your employer's, and dividends). Virtual Pag-IBIG shows your loanable amount.
What are the Pag-IBIG Housing Loan interest rates?
The rate depends on how long you fix it: 5-year fixing 6.5%, 10-year fixing 7.125%, 15-year fixing 7.75%, 20-year fixing 8.5%, 25-year fixing 9.125%, 30-year fixing 9.75%. After the fixing period ends, the rate reprices to the prevailing one. You can take up to 30 years to pay. Pag-IBIG generally checks that the monthly amortization fits about 35% of your gross monthly income.
Is an SSS or Pag-IBIG loan better than a credit card or online loan?
Usually much cheaper. Credit cards can charge up to 3% a month (36% a year), and many online lending apps cost more than that. Government salary loans are 8%–10.5% a year. Still, only borrow for a need, and keep the total of all your loan payments affordable.
Educational estimate only. Uses the standard level-payment formula on a diminishing balance. SSS and Pag-IBIG may compute advance interest, insurance or penalties differently, and loanable amounts depend on your contribution record. Rates as of October 2026; confirm with SSS (My.SSS) or Pag-IBIG (Virtual Pag-IBIG) before applying.
Save your payoff plan, log each payment, and watch the interest you save add up.
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