Salary Advance
A Bridge Apex Salary Advance is a personal overdraft tailored to meet your cash flow needs if you earn a salary. It is a cash bridging facility against your next pay cheque or salary credit. It is designed to help cover small but urgent unexpected expenses between pay days.
500
Minimum monthly income
100
Minimum overdraft limit
Some Benefits of Salary Advance
Access Anytime
Draw money whenever you need it from an overdraft that’s always available
Convenience
Monthly pay back of used limit or a clean-up cycle of 30 days
Pay as you go
Pay interest only on the amount that you’ve used during the month
No Fuss
Avoid minimum monthly repayments, with full settlement the instant your salary is paid
What you get
- An advance of up to 50% of your disposable net monthly salary (after all monthly loan deductions and commitments have been paid)
- Minimum overdraft limit of 100
- Facility limit renewal subject to satisfactory account performance
- Monthly pay back of used limit or a clean-up cycle of 30 days
- Facility fee of 2% (minimum 50) charged on approved limit and at each renewal
- No maximum overdraft limit
- Credit Life insurance premium of 1% on approved limit against death and permanent disability
- Interest applies only on portion of overdraft used each month
- Work for any Bridge Apex profiled organization
- Earn a minimum salary of 500 a month
- Minimum salaried account relationship of:
- - One month - Workplace Banking Scheme companies/organizations
- - Three months – non-Workplace Banking Scheme companies/organizations
- Customers with salaried Bridge Apex Current Account
- Fill in a Personal Overdraft/Salary Advance application form and attach the following documents:
- Statement of account from previous bank (new to bank applicants only)
- Pay slips from the past three months
- Overdraft will be approved subject to a positive reference from credit bureau
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What you get
- An advance of up to 50% of your disposable net monthly salary (after all monthly loan deductions and commitments have been paid)
- Minimum overdraft limit of 100
- Facility limit renewal subject to satisfactory account performance
- Monthly pay back of used limit or a clean-up cycle of 30 days
- Facility fee of 2% (minimum 50) charged on approved limit and at each renewal
- No maximum overdraft limit
- Credit Life insurance premium of 1% on approved limit against death and permanent disability
- Interest applies only on portion of overdraft used each month
- Work for any Bridge Apex profiled organization
- Earn a minimum salary of 500 a month
- Minimum salaried account relationship of:
- - One month - Workplace Banking Scheme companies/organizations
- - Three months – non-Workplace Banking Scheme companies/organizations
- Customers with salaried Bridge Apex Current Account
- Fill in a Personal Overdraft/Salary Advance application form and attach the following documents:
- Statement of account from previous bank (new to bank applicants only)
- Pay slips from the past three months
- Overdraft will be approved subject to a positive reference from credit bureau