Loan Interest refers to the cost charged by SSS on outstanding loan balances. Salary loans carry a 10% annual interest rate computed using the diminishing balance method. Interest starts accruing upon loan release and continues until the loan is fully paid. Delayed or missed payments may cause interest to compound and can lead to higher overall repayment costs.
Hospital delivery in the Philippines can easily cost ₱60,000 - ₱200,000 depending on the hospital and type of delivery.
Many parents use a credit card to manage these expenses while waiting for their SSS maternity benefits.
