Funds advanced to cover emergency and unforeseen expenses and expected to be
recovered from the same month s salary. Also known as pay day loan or a cash advance.

Target Market:
Salaried employees whose employers have accounts with Bank of Africa.
Salary account holders whose employers are pre- approved by the bank.
Individuals

	It is a short term unsecured cash advance aimed at meeting a shortfall within the month.
	Short processing period

	It is a short term unsecured cash advance aimed at meeting a shortfall within the month.
	Salary advance not to exceed 50%  of net income
	Salary advance to be repaid within one month i.e. on the next pay day. (For more senior staff, we could consider three months repayment on a case by case basis)
	Employer’s confirmation of employment terms and commitment to send the staff’s salary to BOA.
	Applicant and/or Employer to have ran an account with BOA for at least three months.

	Three months payslip
	Letter from employer
	Original ID or passport
	Advance application form

	Print Account Opening Forms
	Locate the nearest Bank of Africa branch
	Send an e-mail to obtain further information