Check-Off Loans

The Check off Loans product offered by Fingrow Capital Limited is a Salary Loan check-off product designed for employees of private companies and the public service. The loan is secured against the employee’s net monthly salary and is processed in partnership with their employer. This means that the employer is involved in the loan repayment process by deducting the loan amount from the employee’s salary and remitting it to Fingrow Capital Limited.

There is also a Salary Advance loan which is a short-term loan designed to cater to the financial needs of employees who require quick access to cash before getting their salaries at end month. This product offers affordable short term interest rates. The loan amount is determined based on the employee’s net monthly salary and the repayment period is usually one month.

To access the Salary loan and salary advance the employer and Fingrow Capital Limited sign an MOU which outlines the terms and conditions of the loan. The employee then submits a loan application along with the required documents, which are then processed within a few hours. Once the loan is approved, the funds are disbursed to the employee and repayment is made through a check-off system.