Salary Advance is a salary based overdraft facility which enables staff of private companies and government agencies access 50% of their net monthly salary in advance.
Features and Terms
- Product Description: This product offers 50% of customer's net monthly salary as overdraft.
- Disbursement: The facility is disbursed monthly as temporary overdraft.
- Facility Amount (maximum): 50% of customer's net monthly salary.
- Tenor: 365 days (maximum) with monthly liquidation.
- Target Market: Individuals in paid employment whose salaries are domiciled with the bank.
- Interest Rate: Competitive Interest rates and fees.