Whether it’s your piled-up bills or an unexpected home renovation enable Fibe’s Salary Advance program for your employees. Fibe ensures easy financing for every need of your employees in minutes.
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Our host of financial products like Fibe Salary Advance enables workers to access their salary.
For a working professional, sometimes their salary is not enough to meet all financial demands, especially in the case of an emergency. Instead of getting a loan or banking on their savings, employees can ask their employers for their salary in advance.
Fibe Salary Advance program allows employers to extend credit of up to ₹5 lakhs with quick approval and swift disbursement. Employees can choose a flexible tenure of up to 36 months and the EMIs will be deducted from their salary each month. This makes it a budget-friendly instant credit solution.
Apply for credit and enjoy the following pros:
Implement salary advance at no cost and liability
Attract top talent and reduce employee attrition
Minimal tech integration for the setup
Boost productivity by reducing financial stress
Here are a few easy steps that can help you integrate Fibe's instant loan on salary offering into your portal seamlessly.
Salary Advance program is activated
Corp adds banners on CRMs/shares it on email
Employees sent to Fibe portal for approval
Employees can set-up the smart repay
Zeeshan Ramlan
Director & Head of HR @ Coinswitch kuber
Snehal Yadav
HR Manager @ Knorr Bremse Group
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An Advance Salary doesn’t have any end-use restrictions. It can be used for anything like paying for medical expenses, travel, managing wedding expenses, upskilling, etc.
We will need some basic documents like income proof, address proof and identity proof to get salary in advance.
When an employee get Salary Advance they’re basically getting a short-term personal loan. It can be an excellent way for employees, especially those who are new to credit, to build a credit history and create a good credit score. Employees should therefore ensure that timely EMI repayments are made.
A Salary Advance in India may or may not be taxable, depending on the end-use.
This depends on the terms of agreement. If the employer is agrees to providing employee data, we may require minimal information like KYC details, employee phone numbers and income proof. These details will only be used for underwriting the employee. Alternatively, the employer can choose not to provide any employee details.
Almost 95% of our customers are underwritten through a completely automated process. It takes about 10 minutes to disburse the amount.
Yes, employees who don’t have a credit history can still get a salary in advance.
The auto-deductions against any advance salary is not reflected in the payslip. Employees will need to set-up a smart repay system from their account with Fibe.
The outstanding amount will be recovered by Fibe independently. However, there is no liability on the employer whatsoever.
Our corporate customers get a special 0.5% benefit of interest rates, reduced processing fees and exclusive offers. Moreover, the interest is applicable for only the number of days for which the amount is utilised.
We are an RBI-regulated company, we maintain the highest data security standards. Our application is PCI DSS compliant.
A Salary Advance can offer cash up to ₹5 lakhs through an online application in just 10 minutes. Employees can choose a flexible tenure of 6 to 36 months to repay the advance easily. They can also prepay the amount at 0 foreclosure charges with Fibe.
We ensure the process for applying for any of our products is as easy and hassle-free as possible. The eligibility criteria for an advance salary are simple. They are as follows:
Age: 19 – 55 years
Residence: India
Minimum In-Hand salary: ₹25,000 per month
Employees can get a minimum of ₹ 20,000 and a maximum of up to ₹ 5 lacs as an advance salary.
