ABA introduces non-collateral instant Salary Loan to ABA Mobile
ABA Bank introduces a quick loan solution called Salary Loan in the ABA Mobile app to facilitate those who require immediate advance cash. Salary Loan is designed to provide quick and easy financing for personal use with no collateral requirements and can be used by employees of the companies who opted for the ABA Payroll service. The feature becomes a valuable addition to businesses in offering extra benefits to the staff.
Salary Loan can go as high as 50% of the employee's last two-month net salary (minimum $100), while the loan term can extend to 12 months.
To get Salary Loan, an ABA Mobile user should follow these simple steps:
- Launch the ABA Mobile app and tap the Loans button on the main screen;
- Select Salary Loan and agree to the Terms & Conditions;
- Determine the loan amount and tenor by moving toggles.
- Tap Get Loan and confirm with the ABA Mobile 4-digit PIN.
The loan instantly becomes available to the user, with no waiting time required. After the loan is successfully issued, the customer can download the loan agreement and save it on their smartphone for future reference.
"We believe businesses are motivated to take care of their employees. As a perfect fit for such commitment, Salary Loan in ABA Mobile helps staff leverage unplanned expenses (i.e., a sudden sickness). Easy access to non-collateral loans helps employees be in charge of their own resources rather than relying on uncertain or unofficial sources", says Polin Mey, Chief Operating Officer of ABA Bank.
"We encourage companies and employers to join hundreds of other businesses who already use ABA Payroll service, not just for the convenient and secure payment method but also for value-added features such as Salary Loan," he adds.
Please visit our Payroll Service page for more info on ABA payroll. To enable Salary Loan to your employees, call 023 225 333 or email [email protected]ababank.com for an appointment.
Tap the icon below to download the ABA Mobile application from your smartphone's app store. After downloading, follow the screen instructions to start mobile banking!