Lower-cost credit repaid through payroll.
Salary Finance offers fixed-rate loans through participating employers, with payroll repayment, no setup fee, and no early-repayment fee.
Selection rationale
Why it was selected
A loan can solve a short-term problem and still leave the borrower worse off through opaque pricing or costly repayment rules. Salary Finance publishes the price, uses a soft credit search at the start, and lets borrowers repay early without a fee.
Its current UK program offers £1,000 to £25,000 over 12 to 60 months. A published example carries an 11.9% representative fixed APR. Salary Finance says more than 600 employers make its services available to 4.5 million employees in the UK and US.Salary Finance product and FAQSalary Finance company scale
The panel favored Salary Finance's representative price, fixed terms, fee policy, and employer distribution over lenders with published rates above 35%. Access remains limited to people whose employers participate, and the offered APR varies by program and applicant.
Offers a defined alternative to higher-cost borrowing for eligible employees.
Publishes fixed pricing and charges no setup or early-repayment fee.
Reaches 4.5 million employees through more than 600 participating employers.