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If you have any queries, we’re here to answer. If you don’t see your question here, send us a mail at chris@smallpay.co.za
Payroll loans are short-term financial solutions provided to employees through their employers. These loans are repaid through automatic deductions from the employee’s payroll, offering a convenient and accessible way for employees to obtain funds when needed.
Payroll loans work by partnering with employers to offer loans to their employees. Employees can apply for a loan through our online portal, and once approved, the loan amount is disbursed quickly. Repayments are automatically deducted from the employee’s payroll over a specified period.
Eligibility for payroll loans typically depends on your employment status. Employees of companies that have partnered with Small Pay to offer payroll loans are eligible to apply. There is no need for a credit check, making it accessible to more employees.
Applying for a payroll loan is simple and can be done through our user-friendly online portal. Just provide the necessary information, and our system will process your application quickly. Once approved, the loan amount will be disbursed to your bank account.
Small Pay offers competitive interest rates with no hidden fees. The exact interest rate may vary based on your specific loan terms, but our rates are designed to be affordable and transparent.
The approval process for payroll loans is quick and efficient. In most cases, employees can expect to receive a decision within a few hours of applying, with funds disbursed shortly thereafter.
Loan repayments are made through automatic deductions from your payroll. This means that the agreed-upon repayment amount is deducted from your salary each pay period until the loan is fully repaid.
If you leave your job before the loan is fully repaid, the remaining balance will need to be repaid directly. Small Pay will work with you to arrange an alternative repayment plan that suits your new circumstances.
No, Small Pay does not charge any fees for early repayment. You can repay your loan early without any penalties, and doing so may save you money on interest.
Yes, Small Pay takes data security very seriously. We comply with all relevant financial regulations and use advanced security measures to protect your personal and financial information.
If you have any questions or need assistance, you can contact our customer support team at [Phone Number] or email us at [Email Address]. We are here to help you with any inquiries you may have.
