Employees

Will the employer get to see my loans?

We guarantee that no personal loan data will be shared with your employer. Everything is 100% anonymous. Our technology is ISO27000 certified and completely follows the rules set by the General Data Protection Regulation. Our work is also strictly checked by The Netherlands Authority for the Financial Markets.

Can I easily transfer my old loan to Salarise?

Yes, we will help you refinance your too expensive loan. We will get in contact with the old lender and will transfer the loan without a fine or charge.

What if I retire from service?

The loan will continue with the same terms.

If your employment with your current employer ends, this will not affect the loan contract between you and Salarise. Your employer is not the guarantor of your loan.

How does the payment of the interest and the repayment work?

At the time you take out a loan with Salarise, you authorize Salarise to pay the monthly interest and principal via direct debit. After the salary payment, Salarise debits the amounts due from your bank account.

How does the loan look, which I can take out with Salarise?

A principal amount of €1.000 to €25.000;
A duration of 6 months to 10 years;
fixed interest rate;
monthly payments in an annuity manner.

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Employers

What does the loan look like that employees take out with Salarise?

A principal amount of €1.000 to €25.000;
A duration of 6 months to 10 years;
fixed interest rate;
monthly payments in an annuity manner.

Which employees are (currently) eligible for a loan?

Residence in The Netherlands;
age at start of the loan between 21 and 65 years;
Dutch bank account at a licensed bank in the European Union;
fixed monthly income from a permanent employment contract with a company based in the Netherlands. Or in the case of a fixed-term employment contract: the employee can take out a loan with a term shorter than the term of the employment contract. With a minimum of 6 months.

How does the payment of the interest and the repayment work?

At the time the employee takes out the loan with Salarise, an authorization is given by him/her/it to collect the monthly interest and repayment via direct debit to Salarise's account.

After the salary payment, Salarise debits the amounts due from the employee's bank account.

Is an early repayment of the loan free of penalty?

You are always allowed to repay part or all of the loan at no extra cost.

Is Salarise anonymous?

Salarise is 100% anonymous. The company gets to know absolutely nothing about employees' loans or their financial situation.

Does the employee have time for reflection?

The loan agreement may be cancelled by the employee, free of charge and without stated reason, within 14 calendar days of the commencement of the agreement.

If the loan amount has already been given to the employee prior to the cancellation of the agreement, the loan amount plus interest accrued up to that point must be refunded to Salarise within 30 calendar days of cancellation.

What can employees use Salarise for?

Employees can use Salarise to pay off existing loans, overdrafts, credit card bills and other arrears But also for large purchases or a financial emergency.
We offer a switching service for existing loans and debt. Through this transfer service, the old lender(s) are contacted and the loan is transferred to Salarise. Old loans are bundled into one healthy loan with the lowest interest rate.

What if my employee leaves employment?

The loan will continue with the same terms.

In the event that the employee's employment relationship with you as the employer ends, the loan agreement between the employee and Salarise is not affected. The employer also does not guarantee the employee's loan.

What if my employee does not pay his interest and principal (on time)?

As an employer, you are not a guarantor for your employee. If the employee does not pay the interest and repayment due on time, he will receive a reminder. When a payment arrears of two months or more has arisen, Salarise will pass this on to the BKR. An employee can also take a break month if needed.

What if my employee moves abroad?

If the employee leaves or is about to leave the Netherlands, Salarise may immediately claim the amount due at that time.

Can an employee just transfer a loan?

Yes, we help your employees to switch their overpriced loans. We make the contact with the old lender and transfer the loan. Without penalty.

Employees can refinance their loans at a favorable interest rate - what's to stop them from taking out new loans afterwards when it's not responsible for them?

At Salarise, you can never get over-borrowed, because we adhere to the lending standards of the VFN (Association of Financing Companies in the Netherlands). So someone can never borrow more than they can handle at Salarise. We use a borrowing standard to calculate how much an employee can borrow without getting into financial trouble. In addition to the lowest interest rate, we also offer the best conditions - you can always get a one-month extension, for example - and we offer education, so that people learn how to handle money.
So we emphatically do not push them to borrow more, as other parties do, but we help them deal with money. This distinguishes us from lenders who indeed only make the problem worse.

What does Salarise do differently than a "normal" bank that collapses existing debt into one loan?

There are several parties in the market that provide and/or consolidate loans. What sets us apart is that we do so at the best terms and the lowest interest rate. We also distinguish ourselves through our switching service and, above all, the guidance we can offer so that people learn to manage money wisely. For example, webinars, budget coaching and information sessions.

Should people be guided more? For example, a buddy system?

For a large proportion of employees, the basic proposition and the benefits that come with it are enough to contribute a stone preventively. For some people, it can help to do a little extra. If an employee (or employer) is in need of financial coaching, we offer budget coaches through our partners. Together with the employee, they can create an overview and draw up a budget plan. There is also a financial helpline, accessible to all employees with doubts or questions about their finances and financial behavior.

As an employer, you have no insight into how people fare after they switch loans. As an employer, how do you know when things are escalating?

Your employees can, of course, always contact you - as they did before the collaboration with Salarise - if they have money worries and want to talk about them. The difference is that there is now a large group of people for whom that will no longer be necessary. We guarantee anonymity but always encourage a good conversation with the employer. In addition, the loan with us will not escalate as it may with other parties. This is because we work together with Faircasso. Even in the exceptional case that someone really cannot pay, he will always be treated properly. Want to know more about Faircasso? www.faircasso.nl

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Investors

Who can invest at Salarise?

Investing through Salarise is available to everyone in The Netherlands. To do a private investment, you will be subjected to an investment check and you will need a Dutch bank account.

How does Salarise’s dispersion algorithm work?

When you invest in Salarise, you invest in a portfolio of personal loans. Every investment will be spread over loans that are not overdue at the time of investment. The dispersions are pro rata. The distributed loan transfer will be recorded in a deed of assignment that will be registered to the Dutch Tax Administration by us. By dispersing your investment, we significantly lower the risk of you losing part of your investment.

When does the monthly payout happen?

The automated debt collection for borrowers takes place on the day they receive their salary from their employer. This can differ, but generally, this is between the 20th and the last day of the month. A few days later, the monthly payments to the investors will be made. When you have chosen to reinvest, the money will be automatically reinvested when that is possible.

How can I withdraw my investment?

With Salarise, monthly payments of interest and principal received are automatically possible and free of charge. The possibility of immediate withdrawal depends, among other things, on the inflow of new investments and is not guaranteed. In addition, you can only withdraw the part of your investment that is not in arrears. To keep the possibility of immediate withdrawal available to as many investors as possible, a monthly withdrawal limit of €10,000 currently applies. When you withdraw part or all of your investment directly, you pay a one-off withdrawal fee. The withdrawal fee is equal to 1.0% of the withdrawal amount.

How is the return calculated?

The return reflected by Salarise is the annualised effective return and is defined as the "Internal Rate of Return (IRR)" of the historical and future cash flows related to the investment.

What is the maximum amount I can invest?

At Salarise, you as a private investor can have a maximum of €80,000 outstanding at any one time. We advise you not to invest more than 10% of your available assets in personal loans.

What costs do I incur as an investor through Salarise?

When you invest, you pay a monthly service charge. The service costs are equal to 1.5% on an annual basis over the average outstanding investment. If you have an investment of € 10,000 outstanding, this means you pay € 10,000 x 1.5% / 12 months = € 12.5 in service charges every month. Withdrawal fee With Salarise, monthly payments of interest and redemption are free of charge. If you make use of the option to withdraw part or all of your investment immediately, a one-off withdrawal fee will apply. This withdrawal fee is equal to 1.0% of the withdrawal amount. Collection costs Costs may be charged when a loan is claimed. These costs consist mainly of court and bailiff fees and are recovered from the borrower in the first instance. If this is not possible, these costs will be proportionally passed on to all investors who have a claim on the loan in question.

How do I declare my investment in my tax return?

When you invest as a private individual, your investment falls into Box 3 with other investments and savings. Your information is not passed on to the tax authorities by Salarise. You therefore have to declare it yourself. To help you do this, at the end of each calendar year we provide you with an annual statement containing the information you need. In this way, we make it easy for you to comply with this obligation.

Do I know who I am lending money to?

No. That is completely anonymous. You do not lend your entire invested amount to one borrower. In nodes of 10 euros, the amount to be lent is spread over several borrowers, together with other investors.

What happens when a borrower misses a payment?

Unfortunately, it may happen that a borrower misses a payment. When a borrower misses a payment, we send a payment reminder via e-mail. This reminder includes an iDEAL payment link that allows the employee to pay the missed payment. It is also possible for employees to log in to the website and pay using iDEAL in their personal environment. When the missed payment is not paid, we contact the borrower to find out the reason for the missed payment. If it turns out that a borrower is unable to make the missed payment due to circumstances, we will first consider whether a payment arrangement can offer a solution. Because default interest is charged on missed payments, as an investor you are compensated for the returns you miss. If we do not succeed in getting in touch with the borrower, or if a payment arrangement is not honoured, the loan will be claimed and we will start a legal collection process. When you log in to your personal page, you can see the percentage of loans in arrears.

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Frequently asked questions

Employees

Employers

Investors