FinFit with Salary Finance

SalaryFinance is a fintech business with a social purpose. It helps middle- to low-income employees improve their financial health. It does this by enabling them to payoff their debt quicker by dramatically reducing the interest on their debt. Its platform consolidates the existing high-cost debt an employee has into a single low-cost loan. SalaryFinance collects repayments from the salary (not bank account), which reduces the company’s costs and risk, the savings from which it passes on. The company charges a single low-interest to all employees, which is one-third the average bank rate. Interest savings equate to a pay rise of 2-3%.