Get salary based loan to unlock your potential.
For all those formally employed individuals who are finding it difficult to access short-term credit to finance their consumption needs or to acquire assets. This product will support such short-term needs for example acquiring a cooker, chairs, laptops, cellphones, tablets, etc.
ALAT salary-based loan is a low-interest loan available to the bank’s existing as well as new salary earning customers who may or may not have their salary account domiciled with Wema Bank.
Riding on its reputation of offering seamless financial services, ALAT customers will be able to access the salary-based loan without any form of paperwork, from the comfort of their ALAT app or the ALAT web page without any collateral.
Salary earners will be able to receive a minimum of #50,000 and up to #4,000,000 within hours and will have between 3 to 24 months to pay back with only a 2% interest rate per month on a reducing balance basis.
The process of getting the salary-based loan is entirely online – on the ALAT app or web page – and begins with downloading the app from android or IOS apps store for new customers and a simple login with a click on the ‘Loan’ icon for ALAT registered customers on the ALAT app or web page.
To ensure that customers have a hitch-free registration process, the ALAT app has been updated to include a video run-through of the process of registration at the sign-up page. Customers can also get a simple explainer of each step of the registration process by clicking on the ‘i’ icon on each page on the app.
Also, for customers to have financial confidence and freedom, ALAT has introduced a zero balance. This means that customers can withdraw their money to the last kobo and there will be no charges should any customer maintain a zero balance on their account.