Advance Salary

What would be the duration of loan?
Our affiliate NBFCs offers Advance Salary loans for 10 and 20 days. Other, Special purpose loans are offered from 3 months to 33 months, as per the agreement term.
What is the repayment frequency?
For Advance Salary, once during the facility period, on the due date. Interest or EMI servicing for other Special Purpose loans need to be done once in month, as per the due date.
What is the minimum/maximum amount that I can get?
Special purpose loans can be done for an amount starting from Rs. 10,000/- upto Rs. 4 Lakhs
Are there any charges for taking a Salary Advance?
Yes, charges will apply as per the current Service & Price guide.
What is the eligibility for a Salary Advance?
Amount payable would be subject to credit approval.
Who is entitled for a Salary Advance?
A salary based individual having his or her salary or pension transferred to RAKBANK (Subject to receiving a minimum of three salaries credited to the account).
What is Salary Advance?
A Salary Advance is a temporary advance against salary or pension, where your salary is transferred directly to RAKBANK. This advance is repaid by the following month’s salary credited into the account.

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