Overview
This is a short-term credit facility designed for GCB Bank’s salaried customers (those with salary or current accounts) to provide immediate financial support for unforeseen emergencies before payday. It is accessible through the Bank’s digital channels, primarily the GCB Mobile App.
Target Market: GCB Salaried Account holding customers aged 18 to 59 years.
Qualifying Criteria
- Salaried workers whose salaries are paid through their GCB Salary accounts and/or holders of Current accounts with GCB.
- Existing customers who receive their salaries through a GCB Savings account but are willing to migrate to a Salary account via the mobile app and successfully complete the process.
- New customers must have received salaries into their accounts for at least three consecutive months.
Product Features
Borrow up to 80% of net salary, with a minimum of GHS 100 and a maximum of GHS 20,000
- Loan disbursed in less than 10 minutes
- Pre-approved amount ensures speedy delivery
- Tenor is 30 days
- Competitive interest rate, among the lowest on the market
- Bullet repayment required within the 30-day period
Benefits for the customer
- Quick access to emergency funds
- Instant approval and disbursement
- Fully digital process with no paperwork, offering convenience and speed
- Helps avoid overdrafts or high-interest emergency loans
- Eligibility for a new loan upon early repayment
Application Requirements
Must be onboarded on the GCB Mobile App
- Customer logs in and completes the online application
- Customers with salaries paid into a GCB Savings account must successfully migrate to a Salary account via the app to qualify