SalaryBoost is an
Employee loan
SalaryBoost is an employee loan product from achievePayroll. We understand that unexpected expenses can arise, which is why we have made it easy for your employees to borrow up to one
month’s net salary, with repayment spread over six months. With no need for collateral or guarantors, it is a hassle-free way for your employees to access funds at competitive rates. As an employer, you will benefit from improved employee financial wellness and productivity. Plus, loan repayment deductions are seamlessly integrated into payroll for added convenience.
What Are Your Responsibilities as an Employer?
We have made it easy for employers/users to support their employees’ financial wellness with SalaryBoost. All you need to do is download the remittance schedule generated by the software and instruct your bank to settle the payments using your preferred method. It is hassle-free and won’t take up much of your time. By fulfilling your obligations, you will be providing your employees with a valuable benefit that can help them manage unexpected expenses and improve their financial wellness.
To get started with SalaryBoost
Frequently Asked Questions
SalaryBoost is a payday loan product from achievePayroll that allows employees to borrow money fromtheir upcoming salary.
SalaryBoost is available to employees whose employers use achievePayroll for payroll processing. Employees can borrow up to one month's net salary and have up to six months to repay the loan.
Any employee whose employer uses achievePayroll for payroll processing and has been part of the last two pay runs on achievePayroll can apply for SalaryBoost.
The maximum loan amount is one month’s net salary.
You have up to six months to repay the loan.
Interest rates for SalaryBoost are competitive and affordable.
No collateral or guarantor is required for SalaryBoost.
You can apply for SalaryBoost through the achievePayroll Employee Self-Service platform.
The approval process for SalaryBoost is quick and easy, with funds available within 7 days.
If you can't repay the loan on time, you may face penalties and additional interest charges.
Yes, you can pay back the loan early without penalty.
The loan repayment will be deducted from your salary as a deduction from source.
No, if your employer uses achievePayroll, you are eligible to apply for SalaryBoost.
Yes, you can apply for SalaryBoost multiple times, subject to eligibility criteria.
SalaryBoost is a unique loan product that is affordable, requires no collateral or guarantor, and is only available to employees whose employers use achievePayroll for payroll processing.
The benefits of SalaryBoost include affordable interest rates, quick and easy access to funds, and no collateral or guarantor requirements.
SalaryBoost can help improve your financial wellness by providing access to affordable credit for
emergencies or unexpected expenses.
Yes, SalaryBoost is an affordable loan option with competitive interest rates.
A controller loan is a type of loan where the employer acts as the lender. SalaryBoost is a controller loan product offered through achievePayroll.
Yes, SalaryBoost is a quick loan option that can provide funds for emergency situations