Follow the simple steps below to submit your completed application form, so that we can make sure this product is right for you.
Overview
The Staff Loan facility is an unsecured loan designed for permanent employees of companies enrolled in EFDL’s partner program. It provides a fast, convenient way to address short-term financial needs.
Pay day loans
Normal staff loans
All staff loan Repayments are made via salary deductions, handled by the employer’s payroll unit.
Eligibility Criteria
Key Benefits
Fast Turnaround
Approval within 24 hours.
No Presence Required
No need to come in to sign.
Step-by-Step
Application Process
01.
Employee obtains job letter from HR.
02.
Applicant submits required documents to EFDL.
03.
EFDL Finance Officer reviews the submission and contacts the applicant.
04.
References are contacted; job details validated with HR.
05.
Once approved:
- Loan agreement is prepared and signed.
- Salary deduction form is sent to and confirmed by HR.
06.
Loan proceeds are disbursed directly to the customer’s bank account.
FAQs
No, the liability lies solely with the staff member.
Up to 3× gross salary (payday) or based on a 50% DSR (standard loans).
Only permanent staff of enrolled companies.
No collateral required.
Document Checklist – Staff Loans
Documents Needed
Required Forms (Available as PDFs)