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Salary advance is a short-term loan available to SBM Bank customers whose salary is deposited into their SBM Bank account. This loan helps customers meet urgent financial needs.

To qualify, you must:

• Receive your salary consistently in your SBM Bank account for at least six months.
• Have an active and operational SBM salary account for over six months.
• Receive a regular salary income of at least KES 15,000 per month.
• Have no non-performing loans or overdue credit card facilities with SBM Bank.
• Ensure your salary account is not already in a negative balance.
• Use your salary as the security for the loan.

Customers can borrow up to 50% of their monthly net salary, with a maximum loan amount of KES 100,000. The minimum amount depends on your eligibility.

You can apply via Mfukoni Mobile App (Android, iPhone, Huawei) or Internet Banking. Simply log in to any of these digital channels, select "Apply for Salary Advance," and check your eligibility.

Loan processing is instant. Once you apply through Mfukoni Mobile or Internet Banking, your salary advance is immediately credited to your account.

The loan amount will be instantly credited to your salary account, and your account balance will reflect the increase.

The loan is repayable within 30 days from the date of disbursement. However, we encourage early repayment as soon as your salary is credited to your account.

• The loan amount will be automatically deducted from your SBM Bank salary account on the 30-day due date.
• Ensure your account has sufficient funds on the due date to avoid penalties.
• Late repayment will attract a penalty fee.

You can repay early via the Mfukoni "View & Repay Loan" option.

• A one-time facility fee of 10% of the loan amount.
• 20% excise duty on the facility fee.
• The total fees will be displayed on the Mfukoni interface during application.

• If your account has insufficient funds on the due date, the outstanding loan will be charged a penalty fee of 33.6% per annum, calculated daily.
• This penalty will reduce your disposable income and may impact your credit rating.