Employees earning regular monthly salaries can apply for loans to be repaid through check-off administered through the employer. The approval of the employer, who also agrees to remit deductions from her employees to Molyn, is required before the loan is disbursed.
Products under this scheme target the following:
• Civil servants
• Employees of State corporations and Parastatals
• Employees of private and public companies.
Products under this scheme are:
o Salary Advances (1-3 months): Short-term loans of between 1 and 4 months can be given to employees who apply for them. An employer’s approval is required and the loan should not exceed three times one’s basic salary.
o Consolidation loan: Clients currently having many deductions on the pay slips towards loan repayments can now consolidate their loans through Jijenge Credit. This results in one loan repayment replacing the numerous loan repayments which were earlier on the pay slip.
Original latest Pay Slip,
2 Colour passport photos.