Sometimes you may encounter emergency issues demanding money. It is one reason why KCB bank offers people salary loans in advance. This article is for you if you don’t know how to apply for a KCB salary advance through the KCB salary account.
KCB bank cares about its customer, and it offers them a loan.
You can still choose to take a salary advance to cushion the unforeseen financial situation you encounter if you are employed.
It is like a short-term loan, which you repay at the end month.
The salary advance is only meant to KCB customers who have a salary account, and they are through that account.
KCB salary advance product serves as a knight if you are employed and under financial catastrophes.
It is easy to apply for a salary advance, but first, you must meet the requirements.
Salary Advance Requirements In Kenya
KCB Bank has set out the requirements for all its products, and this includes salary advance.
The following are the requirements to apply for a fort salary advance from the KCB salary account;
1. Have an active bank account with the Kenya Commercial Bank and be active for at least three months.
2. Original or copy or National ID or passport.
3. Original latest payslips for three months.
The amount of salary advance you qualify for depends on the amount of your salary.
The bank will determine that amount if there is no specific formula.
But in most cases, the permanent employees can get up to 1.5 times their salary or Kshs 100, 000 while for contract employees, up to Kshs 100 000.
How Long Does The KCB Salary Advance Take
KCB bank processes the salary advance depending on how quickly you provide all the requirements.
You have to fill the application form with the correct details to avoid bank delay on confirmation and returning the form.
After the bank receives the form and verifies all the information, the amount will be posted to your account immediately.
You can get a loan to withdraw the money.
When To Pay The KCB Salary Advance
After KCB bank disburses your salary advance request, during the application form, you need to provide details on how long it will take you to repay the loan.
The bank will make a deduction according to the agreement. In most cases, it takes up to three (3) months to repay.
The bank will also influence when to repay the advance.
There is no security required when applying for a KCB salary advance.
Here is the list of our KCB articles:
Fixed Deposit, Mobi Loan, Careers, Cub Account, Forex Exchange, Types of Accounts, Activate Mobile Banking, Mpesa Loan, Savings Account, Tuungane Chama Account, Apply for Credit Cards, KCB Opening Hours, KCB Mpesa Interest Rate, Diaspora Banking, Paybill Number, Savings Interest Rate, Business Account, Prepaid Master Card, KCB Student Account.