SSS LoanLite Calculator
The SSS microloan is priced at 8% a year — but the bank's flat ₱200 fee is what you actually pay. See the effective rate before you tap Confirm.
The Loan
₱1,000 to ₱20,000, subject to your own ceiling below.
Four fixed options. There's no slider — you pick one of these.
What the Bank Charges
Flat, per transaction. ₱200 is the ceiling, not the announced price — put in what your bank actually quotes.
A second fee on top of interest, capped at 3% a year and prorated over your term. No other loan fees are allowed.
Your Record
Last 12 months. This sets your Monthly Salary Credit, and your ceiling with it.
18+ to apply, and under 65 when the term ends.
Lifetime total. You need at least 36.
You need 6. This is the rule that catches people with long but stale records.
Effective annualized cost
173%
The headline rate is 8% a year. Your 15-day loan costs ₱213.56 — 7.1% of what you borrowed, in 15 days.
Total cost of borrowing
₱213.56
95.4% of that is bank fees, not interest.
Your record clears every rule
36 contributions with 6 in the last 12 months, age inside the band, nothing outstanding. The bank still runs its own credit checks on top of the SSS rules.
Your loanable ceiling
₱18,000
Scaled to your ₱18,000 salary credit.
The same ₱3,000, across all four terms
The peso cost barely moves. The rate collapses. That's the flat fee being spread over more days.
| Term | Interest | Bank fees | Total cost | Effective rate |
|---|---|---|---|---|
| 15 days | ₱9.86 | ₱203.70 | ₱213.56 | 173% |
| 30 days | ₱19.73 | ₱207.40 | ₱227.12 | 92.1% |
| 60 days | ₱39.45 | ₱214.79 | ₱254.25 | 51.6% |
| 90 days | ₱59.18 | ₱222.19 | ₱281.37 | 38.0% |
Why 8% isn't the number that matters
SSS LoanLite — formally the SSS Micro Loan Program — lends ₱1,000 to ₱20,000 for 15, 30, 60, or 90 days at 8% per annum[1]. That rate is genuinely low. It's the same one you'd pay on an initial SSS salary loan, and a fraction of what any online lending app quotes.
But an annual rate needs a year to do anything. On a 15-day loan, 8% p.a. on ₱1,000 is ₱3.29. What you actually feel is the participating bank's transaction fee of up to ₱200, plus an add-on fee of up to 3% per annum, both deducted from your loan proceeds[2]. The ₱200 is flat. It does not shrink when your loan shrinks, and it does not shrink when your term shortens.
So a ₱1,000 loan for 15 days costs about ₱205 — roughly a fifth of what you borrowed, in two weeks. In peso terms that's small. Annualized, it lands near 498%, which is payday-lender territory, and the fee is doing essentially all of it.
How the effective rate is computed
Three steps, no compounding, so the figure stays comparable to how any lender quotes an APR:
- Interest = loan × 8% × (term days ÷ 365).
- Fees = the flat transaction fee + loan × 3% × (term days ÷ 365).
- Effective annualized rate = (interest + fees) ÷ loan × (365 ÷ term days).
The calculator also shows the same cost measured against the cash you actually receive. Because charges come off the top before disbursement, a ₱1,000 draw puts about ₱795 in your account while you still repay ₱1,000 — so on the money you can actually spend, the rate is higher still. Both figures are honest; the first is the conventional one.
LoanLite gets cheaper the bigger and longer you borrow
This is the opposite of how most credit behaves, and it's the single most useful thing to know before you use it. A flat fee spread over ₱20,000 and 90 days is noise. A flat fee spread over ₱1,000 and 15 days is the whole loan. Run both through the table above and watch the rate column fall off a cliff.
| Loan | Term | Interest | Bank fees | Total cost | Effective rate |
|---|---|---|---|---|---|
| ₱1,000 | 15 days | ₱3 | ₱201 | ₱205 | ~498% |
| ₱5,000 | 30 days | ₱33 | ₱212 | ₱245 | ~60% |
| ₱10,000 | 60 days | ₱132 | ₱249 | ₱381 | ~23% |
| ₱20,000 | 90 days | ₱395 | ₱348 | ₱742 | ~15% |
At the maximum allowed fees. ₱200 and 3% are ceilings, not the announced price — a bank can charge less, and the competitive ones probably will. Ask before you confirm, then put the real number into the fee field above.
Not everyone can borrow ₱20,000
The ₱20,000 is the program ceiling, not your ceiling. Your actual limit is scaled to the average of your latest 12 Monthly Salary Credits and your contribution count, then rounded up to the nearest ₱1,000 and capped at the program maximum[3].
A member on the ₱5,000 minimum salary credit tops out around ₱5,000, not ₱20,000. A member whose credit is ₱20,000 or higher hits the program cap and stops there — which is why the loan side of SSS ignores the ₱35,000 contribution ceiling entirely. Note this is a loan, so the separate ₱20,000 Regular SS Program cap that limits your sickness and unemployment benefits isn't what binds here; the two figures just happen to be the same number for different reasons.
Who qualifies — and the number a lot of articles get wrong
- 36 total posted contributions — roughly three years of paying in.
- 6 of those in the last 12 months before you apply.
- 18 and up, and under 65 when the loan term ends.
- No past-due short-term member loan and no SSS Micro Loan still running.
- No pending or settled final benefit claim, no active restructured loan, no SSS fraud record.
- An active account with a participating bank, enrolled in its online facility. You apply in the bank's app, not My.SSS.
A lot of write-ups still in circulation — including SSS's own older LoanLite landing page — say 12 posted contributions. The 36-plus-6 rule is the one SSS stated at the September 8, 2026 launch[1], and it's a meaningfully higher bar. Check your posted contribution count in My.SSS before you assume — the SSS contribution calculator shows what each month adds.
Frequently Asked Questions
Why does this calculator show a rate in the hundreds when SSS says 8%?▼
Is this better than the regular SSS salary loan?▼
What happens if I miss the due date?▼
Which banks can I apply through?▼
Do I need my employer's signature?▼
The full walkthrough — applying, the fee ceilings, what to check before you confirm, and how it stacks against the alternatives — is in the SSS LoanLite guide. For which channels are actually accepting applications, see what LoanLite really costs. Before you borrow anything, it's worth knowing what your actual take-home is: run the income tax calculator.
References
- Social Security System — SSS LoanLite now available through UnionDigital Bank mobile app (September 8, 2026): the ₱1,000–₱20,000 range, the 15/30/60/90-day terms, 8% per annum, the 36-total and 6-in-12 contribution requirement, and the loanable amount being based on the average of the latest 12 Monthly Salary Credits.
- SSS Circular No. 2026-005, "Guidelines of the SSS Micro Loan Program (SSS LoanLite) Through Participating Financial Institutions" — a maximum of ₱200.00 per loan transaction plus an add-on fee not exceeding 3% per annum of the loan amount, deducted from the loan proceeds, with no other loan-related fees permitted.
- SSS Circular No. 2026-005, Section IV.B — the loanable amount table scaling a percentage of the average of the latest 12 MSCs against a peso floor by contribution count.
- Social Security System — SSS LoanLite: program page, age band of 18 at application to below 65 at the end of the term, repayment channels, and participating bank rollout. Note this page still carries the older 12-contribution figure.
Last updated: July 4, 2026
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