SALAD™ Salary Advance
Product Overview
SALAD™ is a salary-backed personal loan product offered by Global Trust Mortgage Bank, designed to help employed individuals access funds for urgent needs, home improvement, equity top-ups, or lifestyle upgrades. With a loan amount up to 400% of monthly salary and flexible repayment over 18 months, SALAD™ delivers speed, convenience, and affordability. Special rates are available for employees whose salaries are domiciled with the bank.
Key Features
- Maximum loan amount: Up to 400% of net monthly salary
- Repayment tenure: 1 to 18 months
- Monthly interest: 2.9% – 3.3% based on employer risk grade and domiciliation
- Lower interest rates for customers with salary accounts at GTMB
- Admin and processing fees: 3% (deducted upfront)
- No collateral required for approved salary-backed applicants
- Digital application and 24-hour disbursement to wallet
- Top-up allowed after 50% repayment history and clean track record
Eligibility Criteria
To qualify for SALAD™, applicants must meet the following requirements:
- Full-time employment with verifiable monthly salary of ₦100,000 or more
- Salary account preferably with GTMB or supported via employer payroll integration
- Minimum of 6 months in current employment
- Valid ID, BVN, NIN, and utility bill
- Clean credit history and satisfactory score from licensed Credit Bureau
- Debt-to-Income (DTI) ratio between 33.3%
- Employer verification or acceptable employer risk grade rating
Loan Structure & Disbursement
Loan approval and disbursement process:
- Applicant submits digital application via GTMB platform
- Credit score, employment, DTI, and bureau checks completed within hours
- Loan agreement is digitally signed
- Guarantor confirmation, cheque and customer cheque
- Funds disbursed to applicant’s GTMB wallet or salary account within 24 hours
Pricing & Repayment Details
- Interest Rate:
– 2.7% monthly for GTMB salary account holders
– 3.3% monthly for external salary accounts - Admin Fee: 3% of loan amount (deducted upfront)
- Tenure: 3 to 18 months
- Early repayment allowed without penalty
Risk Management & Underwriting
SALAD™ loans are underwritten using standard digital lending protocols, which include:
- Automated DTI calculation from account data
- Credit Bureau verification via CRC or First Central
- GTMB internal salary employer rating scale
- Salary history verification and 6-month bank statement analysis
- Dynamic scoring system for loan eligibility and top-up qualification
- Disbursement restricted to active, verified salary earners only
- Global standing instruction
- Set up of recurrent debit on repayment account if the salary account is not GTMB
Unique Selling Points
💸 Up to 4x monthly salary without collateral
⚡ 24-hour processing and disbursement window
📲 100% digital onboarding, tracking, and repayment
📉 Tiered pricing model based on employer relationship
🔄 Option to renew or top-up based on repayment performance
🔐 Backed by GTMB’s digital credit risk framework and insurance overlay
