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The primary requirement is that one must be in formal employment and a payroll agreement should be signed between Bayport Financial Services and the prospect’s employer.
Because Bayport loans are payroll based.
This is a control measure to ensure that any other provider wishing to provide credit facilities to the client takes that information into account as they conduct credit checks prior to the new loan appearing on the subsequent pay slips.
The ‘Loan Pre-approval Form’ provides additional controls from the employer’s perspective and re-confirms one’s employment status.
This enhances the Know Your Customer (KYC) requirements and provides a more detailed understanding of who our customers are.
This is because three pay slips may not necessarily have the same information. Additionally pay slips for a longer time horizon provides more information regarding one’s payroll-based obligations useful for making credit vetting decisions.
Yes one is able to refinance the existing with a new loan.
The maximum loan amount depends on one’s net income. The higher you earn the higher the loan amount.
This depends upon one’s income and existing obligations. Visit the nearest Bayport branch to know the exact affordability.
Yes as there are no restrictions on where a loan can be accessed from.
