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Check-Off Loans

Employees earning regular monthly salaries can apply for loans to be repaid through check-off administered through the employer. The approval of the employer, who also agrees to remit deductions from her employees to Molyn, is required before the loan is disbursed.

Products under this scheme target the following:
•    Civil servants
•    Employees of State corporations and Parastatals
•    Employees of private and public companies.

Products under this scheme are:
o    Salary Advances (1-3 months): Short-term loans of between 1 and 4 months can be given to employees who apply for them. An employer’s approval is required and the loan should not exceed three times one’s basic salary.

o    Consolidation loan: Clients currently having many deductions on the pay slips towards loan repayments can now consolidate their loans through Molyn. This results in one loan repayment replacing the numerous loan repayments which were earlier on the pay slip.

o    Top up on loans: For employees still paying an existing loan and have a further need to borrow, Molyn offers top-up on earlier loans provided that their pay slips can accommodate all the requirements. This means taking an additional loan which will increase the money available for your immediate use.

o    Bridging loans: To facilitate an employee take up bigger loans within their Savings and Credit Corporative Organizations (SACCO’s), Molyn carries out bridging of loans after an agreement is reached with the respective SACCO.

o    Buy off loans: A client can repay loans of other financiers by obtaining a preferred financing loan from Molyn Credit  due to its added advantages.


Original latest Pay Slip, National ID, Employment ID/Appointment Letter, PIN Certificate, and 2 Colour passport photos.