GCB launches first digital salary advance product

By Kingsley Webora TANKEH

In an effort to improve access to emergency lending and salary advances, GCB Bank has launched the first digitally accessible salary advance product – empowering salaried customers of the bank to access up to 80 percent of their salary in advance to cater for emergencies and exigencies.

Salaried workers who have received their salaries at GCB for at least three consecutive months qualify for this facility. The GCB salary advance attracts an interest rate of only 2.17 percent applied on daily basis and a processing fee of 2.5 percent.

This groundbreaking solution allows employees instant access to up to 80 percent of their net salary ahead of payday directly through GCB’s sophisticated recoded mobile app on their smartphones.

This GCB innovative digital product eliminates the hassle of visiting branch offices to get paperwork. By using the mobile app, qualified customers can request funds and receive the approved amount instantly into their accounts. It works 24/7.

Repayment is automated. It is deducted within 30 days or less depending on the customer’s next salary date, promoting financial discipline without disrupting monthly budgets.

This product offers the market’s lowest interest rates, with an incentive for ‘early birds’. Requests submitted through the mobile app between July 29th and July 31st 2025 will attract no interest.

The Digital Salary Advance marks a significant leap toward improving access to finance and serves as a lifeline for urgent needs like medical bills, school fees, utility payments or unexpected expenses.

Speaking at the launch, Chief Finance Officer-GCB Bank Mr. Socrates Afram noted: “Banking is not just about transactions; it is also about bringing transformation”.

“We introduced this digital solution to support customers in managing the exigencies of life, putting their needs at the forefront of our design.”

The Executive Head of Retail Banking, Sina Kamagate, urged salaried workers to embrace the product: “GCB Bank is committed to offering convenience and reliable products for the benefit of our customers. The Digital Salary Advance is a smart and reliable solution for managing short-term financial needs. Our promise is to continue providing propositions that enhance your wellbeing.

“If you took GH¢100, at the end of the month you will pay GH¢2.17 as interest. And then GH¢2.50 as processing fee. So, in all, what you pay is not up to GH¢5,” he added, further buttressing GCB’s commitment to providing affordable credit for Ghanaians.

This launch forms part of GCB Bank’s aggressive digital transformation strategy, aiming to deliver accessible, innovative and customer-centric solutions. It reinforces the bank’s position at the forefront of leveraging technology to meet evolving financial realities in Ghana.

As Ghana’s premier indigenous bank with the largest branch network – 184 branches nationwide and a significant digital footprint – GCB Bank continues to build on its legacy since 1953, striving to be ‘Your Bank for Life’ by empowering individuals and businesses to achieve financial wellbeing.

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