FaidiHR, in a bid to keep innovating and changing how employees are managed, recently introduced a new feature known as Faidi Loans. This is a loan facility that enables employees to borrow loans from their employers at low interest rates and using their salaries as security. This innovative loan facility is designed to help employees meet their financial needs and improve their overall well-being.
Advantages of Faidi Loans
- Provides employees with easy access to credit at a time when they need it most.
One of the main benefits of Faidi Loans is that it provides employees with easy access to credit at a time when they need it most. Traditional bank loans can be difficult to obtain, especially during times of economic recession, and often require a lot of paperwork, security and a good credit score. Faidi Loans, on the other hand, can be obtained quickly and easily, with minimal paperwork, no credit check and the only security required is the employee’s salary which is guaranteed.
Another advantage of Faidi Loans is that they are secure. Since the loans are automatically deducted from the employees' salaries before payment, there is no risk of default. This means that employees can borrow money without worrying about the possibility of missing a payment and damaging their credit score.
- Low-interest rates
Faidi Loans also offer low-interest rates, which makes them more affordable for employees. Conventional bank loans often have high-interest rates, which can make it difficult for employees to repay the loan, especially if they are already struggling financially. With Faidi Loans, employees can borrow money at a much lower cost, which helps them to manage their finances more easily.
- Adds to your employee benefits perk
Another advantage of Faidi Loans is that it is a benefit perk for employees. It is an added advantage for employees to have a loan facility that is easily accessible and affordable. This can help to boost employee satisfaction and retention, which is particularly important during times of economic recession.
The COVID-19 pandemic has brought on an economic turmoil and many companies are finding it difficult to keep their employees financially secure. Faidi Loans is a great way for companies to help their employees during this difficult time. Companies can offer Faidi Loans as a benefit perk to help cushion their employees from the financial impact of the recession. This can also set you apart from other companies as an employer of choice as it will lead to improved employee satisfaction and retention.
Faidi Loans is everything you didn’t know your employees needed. It offers numerous benefits. It provides easy access to credit, low-interest rates, security, and it is a benefit perk for employees. If you’re a CEO/ Managing Director, consider offering Faidi Loans as part of the employee benefit perks, especially during these times of economic recession, to help them cope with the financial impact. If you are an employee, consider suggesting this to your employer! FaidiHR is leading the way in providing this service as an added value to our clients and their employees. Our own employees here at FaidiHR have been more than grateful for the availability of this loan facility that helps cushion them in times of financial crisis before payday.
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