Frequently Asked Questions

Alrightyy loans are personal loans/Salary Advances for employees of our partner organisations. They are part of our portfolio of financial wellbeing benefits. Our rates are typically more competitive than those of traditional lenders. Our loans usually start from ₹1,000 and go up to ₹2,00,000. Our interest rate for loans is specific to your employer. Click the 'My Offers' button on your Alrightyy dashboard to find your offers.

The application process is simple and digital which is very quick. There’s no paperwork needed. In some situations we may contact you to provide further information. We accept online applications only.

Salary Advance is an employee benefit that provides you with access to your earned salary before end of the month. With Salary Advance, you can access your earned salary at almost any point in the month. 100% of your earned salary is a typical threshold.

Alrightyy loan/Advances repayments are usually debited directly from your salary.

If for whatever reason we cannot take payments directly from your salary, we will start deducting repayments by ACH mandate. You can foreclose/repay the loan in full or make partial payment at any time, with no additional fee.

EWA, or earned wage access, is a financial wellness benefit that allows employees to access a portion of their earned wages before payday. This money will be repaid with a deduction from the next month's salary of the employee. This program is usually backed by a partnering financial institution/ service provider to integrate directly with the HRMS of the organization ensuring that employers do not have to worry about burdening their own books or costs. With Alrightyy Employees can access up to 80% of their earned salary on demand.

There are several ways in which EWA can be beneficial for employers, including.

• Improves Employee Financial Wellness: EWA can provide employees with a financial safety net, reducing their need to go into debt or take out high-interest loans. This can lead to less financial stress among employees, increasing productivity and improving overall job satisfaction.

• Decreases Employee Turnover: By offering EWA, employees are more likely to stick with their job as they feel more secure financially. This can especially be beneficial for hourly and low-wage employees who may struggle to make ends meet between paychecks.

• Reduces Employer Financial Liability: EWA services generally carry little to no risk for employers, as the service providers assume the liability in the event that an employee is unable to repay the advance. This can be an attractive benefit for employers looking to support their workforce without taking on additional financial risk.

• Enhances Employer Reputation: Offering an innovative and practical benefit such as EWA can help to differentiate an employer as one that is invested in its employees' well-being. This can help to attract top talent and enhance an employer's overall reputation.

Overall, there are numerous benefits to offering EWA to employees, including improved financial well-being, increased employee satisfaction, and reduced financial risk for employers.

For EWA there is no interest to be paid however for a win-win model, a minimal slab-wise flat convenience fee is charged from the benefitting employee.

• Special discounts on occasions

• EWA is offered at Zero Interest & a minimal Flat convenience fee

• Other Advances interest charges & eligibility criteria will apply

For organizations that adopt Earned Wage Access, typical minimum baseline usage would range from 10-15% of all employees. For certain sectors like Hospitality, manufacturing, retail, and healthcare, the adoption rate could be as high as 40%.

A typical personal loan would bring a number of usually hidden disadvantages with it, leading to an increased financial stress to your employee. The following comparison table highlights just a few apparent differences:

Alrightyy Vs. Other finance options available to an Employee