Modernise your monthly pay cycle with a pay-on-demand facility. Enable your employees to use a flexible and sustainable tool to manage all their finances at their convenience with Fibe Earned Wage Access.
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Fibe’s innovative financial products like Earned Wage Access give employees the flexibility to access their monthly wages early.
Setup on demand pay program with no liability*
Customise the product as per the organisational needs
Integrate through a plug-and-play system at no-cost
Boost employee morale and attract top talent
Getting Fibe's offering on your portal is super simple! Just follow these few steps and your employees can opt for Earned Wage Access in no time.
Corporate ties-up to initiate Earned Wage Access program
Fibe integrates with corporate HRMS
Employees apply through HRMS portal
Repayment is done via payroll auto-deduction
Zeeshan Ramlan
Director & Head of HR @ Coinswitch kuber
Snehal Yadav
HR Manager @ Knorr Bremse Group
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This product is a form of salary advance, where the employee can withdraw a portion or the entire amount of the accrued income at any time of the month at a nominal fee. It is essentially an on-demand payout system, where the employee has better control of their salary.
This program helps employees access their salaries on-demand. This is an added convenience that can help employees manage unforeseen expenses without having to depend on alternate financing options. This means reduced financial stress, better employee morale, lower attrition rates and higher productivity.
The employer has an operational liability to deduct the salary advance taken by the employee and transfer the same to Fibe.
The risk liability should the employee abscond, may or may not be on the employer – depending on how they choose to customise the product.
There is no interest involved for loans taken.
We use an AI/ML-based algorithm to underwrite and process applications. It just takes up to 10 minutes for employees to get their instant salary advance.
The eligibility criteria for Earned Wage Access may depend on the terms of the partnership. The minimum salary requirement for this product is ₹ 15,000.
The auto-deductions against any salary advances are usually mentioned in the ‘Other Deductions’ section of the payslip.
The outstanding amount will be recovered by EarlySalary independently. However, the operational liability of informing us of such events is on the employer.
