Ghana

Salary Advance

Salary Advance banner

A Stanbic 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.

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 GHS100
  • 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 GHS50) 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
How to get it
  • Work for any Stanbic profiled organization
  • Earn a minimum salary of GHS500 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 Stanbic 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
  • What you get
  • How to get it
  • 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 GHS100
  • 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 GHS50) 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 Stanbic profiled organization
  • Earn a minimum salary of GHS500 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 Stanbic 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