Salary Loan

What is Salary Loan?

A Salary Loan is an short-term instant personal loan that allows you to access funds based on your monthly salary, helping you manage urgent financial needs before payday. You can apply for a short-term loan for upto 3 months. The application process is completely online and once approved, the cash is immediately transfered to your Botim wallet.

How do I use Salary Loan?

You can apply for a Salary Loan directly through our app hosted in Botim.
You can navigate to Botim-> Home ? View All ? Pay -> My cards -> Salary Card ? Salary Loan.
You can navigate to Botim-> Money ? More Services ? Pay -> My cards -> Salary Card ? Salary Loan.

Once approved, the funds are disbursed to your Botim wallet.

Who can apply for Salary Loan?

For our initial phase, we have whitelisted a few of you based on your details. You will get exclusive access to our Salary Loan application. later, all Botim users in the UAE who have registered with a UAE mobile number, have completed KYC verification and who receive their salaries via Botim Wallet, are eligible to apply.

What are the requirements to get a Salary loan?

You must have a valid Emirates ID
You receive regular salary credits into your Botim wallet
You have been with your current employer for the past 2-3 months
You have a good credit history

Why was my application rejected?

You may been rejected due to one or more of the below reasons. We strongly encourage you to re-apply in 30 days

Insufficient credit history

You did not meet the required eligibility criteria

How much is the loan amount?

Loan amount is ranged from AED 100 to AED 4000 depending on your monthly salary, credit history , repayment capcity and your specific need.

How long is the loan term?

Loan term can range from 1 to 3 months depending on your need and your credit history.

How much is the interest rate?

The interest rates will differ based on the loan amount and tenure selected as well as your credit history.

How is interest calculated?

Interest is calculated on the loan amount availed and is charged on a reducing balance basis or as per your loan agreement.
What is my approved limit? Your approved limit is the maximum loan amount you can borrow, based on your salary and eligibility criteria.

Will my limit expire?

Yes, your approved limit is valid for a specific period and may expire if unused. You can always reapply once your eligibility is reassessed.

How can I increase the loan amount?

Your loan amount can be increased by maintaining regular salary deposits, ensuring timely repayments, and meeting our eligibility criteria.

How many times can I use salary loan?

You can only have one active Salary Loan at any point in time. However, once a Salary Loan is closed, you may re-apply again.

How do I receive the money?

The loan amount is transferred directly to your Botim wallet.

How much can I withdraw?

You can withdraw any amount between AED 100 and your approved limit.

When should I repay the loan?

Repayments are scheduled as per your choice of loan tenure and your pay day. The instalment amount will be automaticlaly deducted from your Botim wallet as per the repayment schedule.
Do I need to pay anything before receiving the money? No upfront payment is required from you. Applicable processing fee will be deducted from your loan amount before disbursement to your Botim wallet.

How soon will I receive the money?

Once approved, the money is credited instantly into your Botim wallet, provided you have agree dto waive the cooling-off period. If you have not waived the cooling-off period, you will receive your money after the coolling-off period is completed, provided you have not cancelled the loan.

What many instalments can I choose for repayment?

You can choose flexible instalment options (e.g., 1–3 months), depending on the loan amount and eligibility.

How do I repay the money?

Repayments are auto-deducted from your Botim wallet as per your repayment schedule. You may also initiate repayment via our app.

What can I use to make the repayment?

You can repay through salary deduction, debit card or by topping-up your Botim wallet.

What if my salary comes late?

If your salary is delayed, repayment will be attempted once the salary is credited. Additional charges may apply if payment is delayed beyond the due date. You may get a grace period if you have had good repayment history prior to this default.

What if I get overdue?

If your repayment becomes overdue, late payment charges may apply, and it could affect your future loan eligibility.