Salary Advance Loan
Partner with us to get your employees access to affordable and convenient credit.
SALARY ADVANCE LOAN FEATURES
FINANCING
Up to a third of your net salary
LOAN LIMIT
Up to Ksh. 300,000
LOAN PERIOD
Up to 3 Months Period
INTEREST RATE
9.5% Per Month
PROCESSING
Within 2 Hours
SALARY ADVANCE LOAN REQUIREMENTS
The following documents are required to apply for a salary advance loan:
- 1. Copy of National ID
- 2. Passport Photo/Selfie
- 3. KRA PIN Certificate
- 4. Last 3 months payslips
- 5. Last 6 months salary bank E-statement (as originally received from the bank)
- 6. Last 12 months Mpesa statement (as originally received from Safaricom)
STEPS TO APPLY
1. LOAN APPLICATION
Fill in the online application form.
2. LOAN APPRAISAL
We will determine how much you qualify for.
3. SIGN LOAN AGREEMENT
Sign the loan agreement.
4. DISBURSEMENT
We will send the loan funds directly to your Mpesa.
Apply For A Salary Advance Loan
Fill and submit the appropriate form below and we will reach out to you asap!
Frequently Asked Questions (FAQs)
Who can apply?
Any Kenyan individual above 18 years who is employed and earns a regular salary. All personal and payment information provided in the application must belong to you.
How much can i borrow?
You can borrow a minimum of Ksh. 10,000 and a maximum of Ksh. 300,000.
What is the interest rate?
We charge 9.5% flat rate monthly interest.
Is there a processing fee?
Yes we charge a processing fee that is deducted upfront.
Do you check CRB?
Yes, we check your CRB information. This helps us to understand your current financial commitments and how you have serviced other loans in the past. It also means that if you default on your loan with us, we have the duty to negatively list you on CRB which may impact your eligibility for other financial products with other lenders.
What documents do i need to apply?
- Photo of your National ID – Front & Back sides. All the details must be clear and legible.
- A recent colored photo/selfie of yourself. Selfies are highly recommended.
- KRA PIN Certificate
- Last 3 months payslips
- Last 12 months Mpesa statement as originally received from Safaricom. It must be an E-statement, no need to have it stamped. Do not edit, scan, stamp or remove password.
- Last 6 months salary bank statement as originally received from the bank. It must be an E-statement, no need to have it stamped by your bank. Do not edit, scan, stamp or remove password.
- Post-dated cheques from your salary account. These will be required after a loan amount has been approved but before disbursement is done.
Do i need a guarantor?
No you do not need a guarantor.
Will you contact my employer before i can get a loan?
No we do not contact your employer.
Do i need to provide cheques for repayment?
You do not need to provide cheques for repayment. However, depending on your risk profile we may require that you provide either cheques or a standing order for repayment purposes.
Why do i qualify for a smaller loan than i expected?
As a responsible lender, we take adequate care in all phases of our credit process to determine that our clients have the capacity to repay without becoming over-indebted. Unfortunately this may also mean that sometimes you will only qualify for a smaller loan than you expected.
Will you send me all the loan details before sending the cash?
Yes we will. We value transparency. As a responsible lender, we will disclose all the information regarding your loan to you and send a loan agreement containing all loan details plus the repayment schedule to your email before activating your loan. We will only proceed once you are ok with all the terms and conditions and with your express consent.
Can i take a top-up loan before clearing my loan?
Yes you can apply for a top-up loan after paying at least one installment.
Do i get a benefit for paying on time?
If you have successfully paid off one loan with Wemma Fintech, the next time you apply you may enjoy higher loan limits and lower interest rates.
How do i make my repayments?
Mpesa Paybill Number:
Account Number: Your National ID Number
What are the benefits of taking a loan with Wemma Fintech?
Seamless Online Application: Apply conveniently online without submitting physical documents.
Minimal Documentation: Apply easily with only the essential paperwork required.
Fast Processing: Enjoy quick and hassle-free loan approvals.
Convenient Digital Agreements: Sign your loan agreement online, anytime, anywhere
Professional Service: Experience courteous and dedicated support from our team.
No Guarantors Needed: Access loans independently without the need for guarantors.
Timely Repayment Reminders: Stay informed and plan your finances with regular SMS and email upcoming repayment reminders.
Respectful Collections: No debt-shaming—if challenges arise, we work with you to create a manageable repayment plan.
Privacy: Your data will only be used in accordance with our Privacy Policy. We will not contact your employer before disbursing your loan.
How can i contact you?
You can call/whatsapp us or email us on loans@wemmafintech.com and we will get back to you as soon as possible.