Salary Advance
The salary advance product is a permanent overdraft for a renewable contractual period of one year, granted to employees with a stable and regular income in a reputable company of good standing.
In case of need, the employee who has subscribed to the program can, with peace of mind, carry out debit operations (at the counter, by check, or bank card) up to the authorized overdraft amount, which is 30% of the net monthly salary transferred.
ADVANTAGES
An adapted formula to deal with unforeseen expenses.
Speedy processing of the application.
Loan at preferential interest rate
No interest (overdraft charges) paid in case of non-use of the overdraft
Protection of dependents through insurance coverage (account insurance)
Flexibility and simplicity in current account management.
FEATURES
Risk acceptance condition
Being a holder of a BRIDGE BANK GROUP COTE D'IVOIRE Checking Account
Having a salary equal to or greater than 500,000 XOF
Being a civil servant, private sector employee, in a public company, or in a reputable institution.
The employer must benefit from an approval from Bridge Bank Group Côte d'Ivoire
Being the beneficiary of an open-ended employment contract (CDI) or a fixed-term contract (CDD) covering the period.
Having a seniority of at least six (6) months with their employer or six months in the case of changing employers.
Nature of loan
Salary advance
Type of facility: Short Term
Duration: 12 months. Renewable;
Individual authorization limit: 30% of the net salary transferred.
Renewable by tacit renewal.
Cost of credit
Minimum gross interest rate: 12% Excl. Tax
Processing fees: 3% Excl. Tax of the facility amount
Associated product: Account insurance, the premium depends on the guaranteed capital. It varies from 10,000 XOF to 40,000 XOF
Repayment
Monthly transfer of the salary or any other deposit to the employee's deposit account.
The salary advance is a revolving credit that is replenished with each repayment.
The guarantees
Irrevocable commitment letter for salary domiciliation issued by the employer
Client's subscription to a disability-death insurance policy with delegation to the benefit of BRIDGE BANK GROUP CI
Documentation
Subscription form (three copies),
Individual insurance form (three copies)
Signed salary domiciliation commitment by the employer,
Work certificate,
Salary statement (three copies).