GCB Bank Launches Digital Salary Advance for Emergency Funding
Product targets medical bills, school fees, and other emergencies
GCB Bank has launched Ghana’s first fully digital salary advance facility, enabling salaried workers to access up to 80% of their monthly earnings ahead of payday—entirely through mobile banking. This innovation offers a fast, convenient solution for emergencies like unexpected medical bills, school fees, or essential home expenses.
Eligible customers—those who receive salaries through GCB Bank for at least three consecutive months—can access the loan 24/7 via the bank’s upgraded app. The advance attracts a daily interest rate of 2.17% plus a one-time processing fee of 2.5%. Repayments are deducted automatically from the next salary within 30 days, making it a low-risk option for users.
100 cedis advance costs less than 5 cedis in fees
CFO of GCB, Socrates Afram, described the initiative as a critical part of the bank’s digital transformation. “Banking is about transformation. This product puts the customer first—especially in emergencies.” Sina Kamagate, Head of Retail Banking, highlighted its affordability: “A GH¢100 advance costs under GH¢5 total in fees.”
As an incentive, interest will be waived for all successful applications submitted between July 29 and 31, 2025.
This fully digital product eliminates the need for branch visits and is seen as a key step in GCB’s push for financial inclusion. The bank currently operates 184 branches across the country and aims to further strengthen its digital presence.
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