Mpower is a payroll product that comes with a suite of value-added welfare packages for the employees of an organization. It is also designed to address the organization's need for automated payroll management
Features
- An automated payroll solution that reduces the administrative work associated with month end salary disbursements and other remittances by the employer.
- Makes additional funds available to employees in the form of salary advances and personal loans based on their status and income. Employees are eligible for:
- Automatic Salary Advances of up to 75% of net monthly salary before next pay day.
- Personal Loans of up to 25% of your annualized net monthly salary which can be repaid over a maximum period of 12 months at very competitive rates.
- It helps you save towards your next project by putting aside a fixed amount of your monthly income into your Investment Savings Account which earns interest at above market rate.
Benefits
- Flexibility to operate either an Mpower Savings or Current account
- A free cheque book (limited to the first issuance only).
- A free Mpower credit card which gives you immediate access to credit.
- Internet and telephone banking which gives you total control of your account anytime and anywhere.
- Access to unsecured loans at your convenience.
- Automated and secure internet based solution which allows upload of staff salary payments almost instantly.
- In addition to salary payments, it can be customized to meet your needs for payments of taxes and pensions as well as any other payment requirements.
- It comes with an Investment Savings Account (ISA) which allows you save towards your next project in a seamless manner.