The salary advance is the innovative instant cash product offered by GS Cash Advance and clients have widely used this product for short term emergencies’ such as untimely illness, deaths, and shortage of money for groceries, transport, etc. before their salaries are paid. This products’ repayment period is one to three months. This product is one of the best innovations we have ever offered to our clients. It is based on the principles of compassion, accommodativeness, relationship building and ethics. GS Cash Advance is compassionate towards its clients and seeks to provide solutions to untimely financial dilemmas. The product is also accommodative in that repayment options are comfortable and tailor made for individual clients. Through the product of Salary Advance, a mutual relationship is built with our clients. It is a product that put ethical lending into practice as a result of the amount of care and professionalism applied to each of the application and transaction.
The product is based on an affordability model which makes cash available to our clients in not more than 15 minutes. Clients are able to request a minimum of K100.00 and a maximum of 50% of the clients fixed net pay. This, in itself is responsible lending which is our key principle at GS Cash Advance. Although our salary advance is based on unsecured lending, GS still offers low repayment interest on this product as compared to other players in similar business and the “Kaloba people” Another advantage with a salary advance is that clients are allowed to pay interest only when they cannot manage to pay the full repayment amount, the balance can then be rolled over to the next payment period with interest charged on it. This is the perfect product to illustrate the extent to which GS is serious about ensuring that the under-banked in Zambia have access to finance for the product does not require client to leave any valuables as collateral, At GS we treat our clients as our friends as such; we believe that they will honor their side of the friendship that is paying on time.