Easy Loan is a loan product for SAL Pay users that allow longer terms and higher value. We have several lenders available for this product, and you will be matched through a request-bid-accept cycle, giving you control over the terms that the lenders can offer. In addition, by availing of this service you will be agreeing to share some of your primary employment data with lenders. Collections and repayment are handled by the SAL Pay app, through automated deductions coming from your SAL Pay account balance.


To utilize the Easy Loan service, go to your SAL Pay app, and click “Apply” from the Easy Loan on the Home Page.


Enter the amount you are borrowing, the terms or duration of the loan, and choose a purpose on the drop down option.

Click the tick box for the Terms and Conditions and tap on the “Request Loan” to complete your loan request.



  

If you want to know more about the Terms and Conditions of the Easy Loan, tap on the “click here” text and you will be directed to the Terms of Service Agreement page.

 

 

Once you tap on the "Request Loan" button, your request will be submitted to our Lenders. You will receive a notification when a lender offered you a loan.


The summary of your existing loan request will be on the SAL Pay Loans section. The request will expire in 8 days, if no lender has provided an offer to your loan request.


Please note that you can only have one ongoing loan request at a time. Pressing the Easy Loan button while having an active request will give a you pop-up error message that you can only have one loan request.


If you would like to cancel your request, you may click on the Cancel Request button. A pop-up box will appear to finalize the cancellation. You may also select “No” if you would like continue with your loan request.


You will receive an email when lenders have made an offer to your loan request.

 

On the loan overview page, you will see all current available offers for the loan request. Every loan offer can be rejected or accepted individually. Loan offers do not expire, whereas the loan request expires.  Click the green arrow on the right part of the offer to review the terms, and to be able to reject or accept the offer.

 

The loan details will display the total loan amount, the terms, and the interest that is going to be applied to the loan amount. The payment details will display the first payment date, the amount per payment, and the interest that you will be paying per payment deduction.

 

You can scroll left and right to see and compare all offer made for your loan request.

 

You can click “Reject” on all offers if there are no offers that would meet your expectations. You may click accept to the offer that you choose, and all the other offers would automatically be rejected.

 

Accepting a loan offer needs to be confirmed by first reading the Terms & Conditions of the lender. Once you have verified the terms, you will be able to accept the loan offer as proposed by the lender.

 

 Once you have accepted an offer, the request is going to be marked as accepted and the money will immediately be credited to your SAL Pay balance.

 

 

The summary of the loan will also be on the SAL Loan status together with the date of the next deduction, and the outstanding balance.