Salary Advance

Salary Advance

A salary advance refers to a short-term loan that is granted to an individual against their upcoming salary. This type of loan is provided by SLCB to individuals who require immediate access to cash for emergency expenses or unforeseen financial needs. To obtain a salary advance, the borrower typically needs to have a regular source of income such as a job and a good credit history. The amount of the advance is usually limited to a percentage of the borrower's expected salary, and the repayment period is usually short-term, typically within a few weeks to a month.