Services

Salaried Loans

Short term credit to individuals with Companies MOU…

What services we provide

RYTHM Microfinance Ltd provides short-term credit facilities to employees of Companies that enter into a Memorandum of Understanding (MOU) for payroll deduct loans with RYTHM. We offer superior service with a short turnaround time. The process is simple, and funds are disbursed within 24 hours of a complete application being received. The funds are collected via monthly payroll deductions from the employer Company.
Short term in nature, meant to finance short term needs that Banks typically do not finance.
Loan repayment period is from 1 month to 12 months
Top ups available after 3 months of performance on initial loan
No collateral required
Early Loan repayment allowed
Loan size depends on Employee’s salary and tenure of loan

How it works
MOU Signed between Employer and RYTHM
• Employer agrees to facilitate RYTHM loan deduction from payroll
• Employer agrees to remit deduction schedule/payment to RYTHM
Employee Application
• NIDA/Driving License/Voter’s ID
• Three (3) latest pay slips
• Preapproval document form HR/Finance
• Three (3) latest bank statements
• Introductory letter
RYTHM Review of Application
• Check employees pay is within MOU conditions
• Credit reference Bureau check
• Reconfirms employment status Loan approved
• Loan disbursement within 24 – 48 hrs
Month End Repayment of Loan
• RYTHM submits loan repayment schedule on agreed date
• Employer uploads deductions on payroll
• Employer transfers deductions to RYTHM
• RYTHM uploads repayments on system and loan is fully paid off.
Our services

Ready to talk about business?

Book your free first consultation now!