Employees

Will my employer receive information about my loan?

No. All of our services are 100% anonymous. We guarantee that we do not share any personal information about your loan or your financial situation with your employer.

Can I transfer to you with my loan?

Yes, you can. If you want to switch your current loan(s) to one healthy loan with us, you can tell us. Then we will arrange the switch. Without charging any fees.

What happens to my loan no longer working for an affiliated employer?

Your loan will then continue on the same terms. Even if you no longer work for the affiliated employer. If your income changes as a result and it becomes difficult to pay your monthly installment, we will find a solution together.

How do interest and principal payments work?

When you take out a loan with us, you give us an authorization for a monthly direct debit. After your salary is deposited, we will debit the same amount every month. Only the first and last month may differ. This is how you pay the interest and repayment. Always without surprises.

How much can I borrow from you?

You can borrow between €1,000 and €25,000 from us.

What is the term of a loan with you?

You decide the term of your loan. Always between 6 and 120 months.

Does the interest rate on my loan change in the interim?

No. The interest rate on your loan is fixed and therefore always remains the same.

Will my monthly amount change?

No. Every month you pay the same amount in principal and interest. Only the first and last month may be different.

Can I make additional repayments?

Yes. You can always make additional repayments with us. Without us charging a fee.

What happens if I miss a payment?

Should it happen that you miss a payment, we will send you an email with a payment reminder. This email contains an iDEAL payment link that you can use to pay the missed payment. You can also log in to your dashboard and pay with iDEAL. If you miss three or more payments, we have to report this to BKR. Then you will get a negative BKR-registration.

When does direct debit take place?

We do a direct debit every month a few days after your salary is deposited.

How long will it take for me to receive the money?

Once you have completed your application and sent it digitally, we will start working for you. We will check your details and assess whether you can pay the loan without running out of money. We will inform you about your application within a few days. If your application is approved, we will send you an offer. As soon as we have received your approval, the money will be in your account within a few days.

Will my loan be registered with the BKR?

Yes. All lenders in the Netherlands are required to register every loan they provide with the BKR. So we are obliged to do the same when it comes to your loan with us.

Do you do a BKR test?

To determine whether a loan is justified, we check each application with the BKR.

What information do you need when applying for a loan?

In order to properly evaluate your application, we need some information from you:

A recent pay stub no older than two months;

A recent bank statement, no older than two months, of a full consecutive month showing the deposit of your net salary and payments of your charges;
A copy of your passport or ID card.

Sometimes we need just a little more information from you. About your partner, for example. Then we will contact you as soon as possible.

When do I qualify for a loan with you?

Your employer is affiliated with us;
you are at least 21 when you apply for a loan and up to 76 when the loan is paid off;
You have a Dutch bank account;
You have Dutch nationality, nationality of an EU/EEA country, Switzerland or a permanent residence permit;
You live and work in the Netherlands continuously for at least two years. As well as your partner, if any, with whom you apply for a loan;
You have a fixed-term or temporary employment contract. With a temporary employment contract stage A, 1 or 2, unfortunately you do not qualify for a loan with us;
Your financial situation must allow you to bear the loan. This is carefully checked by us.

How do I apply for a loan?

Create an account on our site. Select your employer. Start your calculation and submit your application. Applying for your loan with us is completely digital.

Can I redeem early?

Yes. You can pay off your loan early with us. Without penalty.

Do I get time for reflection?

You can cancel your loan agreement with us free of charge and without stated reason within 14 calendar days of the start of the agreement. If the loan amount has already been transferred to you prior to the cancellation of this agreement, the loan amount plus the interest accrued up to that point must be repaid to us within 30 calendar days.

What happens to my loan if I move abroad?

If you leave or are going to leave the Netherlands to live abroad, we can claim the amount outstanding at that time directly from you.

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Employers

What does a financial planner do?

Employees sometimes have questions when it comes to their financial future. Adding a child or a child going to college. Quitting work earlier. What about retirement? What is needed? What is feasible? We work with certified financial coaches who can help your employees answer these questions.

What is budget coaching?

Sometimes someone just can't get by. And someone has lost track of his financial situation. Calling in a budget coach can make all the difference. We only work with certified budget coaches who can help employees who need it to regain an overview of their financial situation. Where they can put those worries aside. And get back to work focused.

Do you do a BKR test?

To determine that a loan is justified, we check each application with the BKR.

Are loans from my employees registered with the BKR?

Yes. All lenders in the Netherlands are required to register every loan they provide with the BKR. So we are also obliged to do so in the case of loans we provide to your employees.

What does a loan look like that an employee can take out with you?

You can borrow from us an amount between €1,000 and €25,000. The term of the loan is up to you, always between 6 and 120 months. The interest rate of the loan is fixed and always remains the same. Every month a borrower pays the same amount with us. Only in the first and last month this amount can be different.

Who can apply for a loan from you?

An employee who is at least 21 years old at the time of application and up to 76 years old at the time the loan is repaid;
with a Dutch bank account;
with Dutch nationality, nationality of EU/EEA country, Swiss nationality or who have a residence permit for an indefinite period;
Who has lived and worked in the Netherlands continuously for at least two years. The same applies to any partner with whom a loan is applied for;
with an indefinite employment contract, or a fixed-term employment contract or a temporary employment contract (not a phase A, 1 or 2 temporary employment contract;
the employee's financial situation must allow him to bear the loan. This is carefully reviewed by us.

How do interest and principal payments work?

When your employee takes out a loan with us, they give us an authorization for a monthly direct debit. After depositing the salary, we debit the same amount every month. Only the first and last month may be different. This is how the interest and repayment are paid. Without surprises.

Will my employees remain anonymous?

We guarantee your employees that they will remain 100% anonymous. Therefore, as an employer, you will not receive any information from us about your employees' loans or their personal financial situation.

What happens if my employee leaves employment and has a loan with you?

If an employee leaves your employment, it does not affect the agreement we have with your employee. The loan will continue as usual.

As an employer, do I guarantee my employees' loans?

No. As an employer, you do not guarantee and are not liable for the loans we make to your employees.

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

As an employer, you do not vouch for your employee. Nor are you liable. If your employee does not pay on time, we will send a reminder. We always work with a borrower to find a solution that suits their personal situation. If there are payment arrears of two months or more, we report this to the BKR. We do this to protect people with payment problems from themselves. So that they cannot take on more debts.

What happens if my employee moves abroad?

If your employee leaves or is going to leave the Netherlands, we can immediately claim the amount due at that time.

Can an employee transfer to you with their loan?

If your employee wants to switch their current loan(s) to one healthy loan with us, they can indicate this at the time they apply for a loan with us. We will then arrange the switch. Without us charging any fees.

Is taking out a loan wise? Doesn't that actually get my employee into trouble?

We do our best to prevent people from getting into further trouble when they take out a loan with us. Our underwriting procedures are designed to prevent over-indebtedness. If a loan is not justified for your employee, we will reject the application. You can never borrow too much from us.

What happens if my employee does run into trouble and cannot pay the principal and interest?

If one of your employees does get into trouble despite our strict underwriting process, we will always work with your employee to find a suitable solution. For example, we only work with social collection partners who, like us, value helping people who have financial problems.

What does working with you look like?

Your personal Customer Success Manager will work with you to ensure a successful launch within your company. A complete package of personalized communication materials will be put together for you. So that your employees can become optimally acquainted with our solutions. You don't have to do anything. Except let us communicate with your employees. You also receive reports that give you insight into the financial needs of your employees. Data that gives you valuable information about the financial health of your employees.

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Investors

Who can invest at Salarise?

You can invest with us as an individual and as a company. This requires a Dutch bank account. We do an investment test with every investor. We also perform a number of mandatory checks.

How does the spread work at Salarise?

When you invest with us, you invest in a portfolio of personal loans. Each investment is spread across all loans that are not in arrears at the time of investment. The spread is done pro rata. The transfer of portions of loans is recorded in deeds of assignment that are registered by us with the Internal Revenue Service. With this way of spreading we limit the risk for you.

How does investing at Salarise work?

When you invest with us you are buying receivables on loans we have originated. Each investment is spread over a portfolio of loans that are not in arrears at the time you invest. Investors all get a small piece of individual loans. This way we spread the risk and ensure that any losses for individual investors are also lower.

You invest by making a payment via iDEAL into your investor account.

In your personal dashboard, you can let us know if you want monthly interest and principal paid out. Or whether you want to reinvest the amount of monthly interest and principal.

When does the monthly payout happen?

Payments to investors are made monthly around the 20th. If you have indicated that you want automatic reinvestment, the amounts are automatically reinvested the moment new loans can be funded.

How can I withdraw my investment?

You can have interest and principal payments paid to you automatically. This is free and we do it monthly.

It is not possible to withdraw (part of) your investment once we have funded loans with it. You can only withdraw the money that has not yet been used to finance loans. If you withdraw (part of) the money you deposited directly, you pay a one-time withdrawal fee. This withdrawal fee is equal to 1.0% of the withdrawal amount.

How is the return calculated?

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

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Do I know who I am lending money to?

No. That's completely anonymized. You are not lending your entire invested amount to one borrower. Every time we make a new loan, all receivables that are not in arrears are spread across investors so that the risks are shared.

What happens when a borrower misses a payment?

Of course, it can unfortunately happen that a borrower misses a payment. In that case, we send a payment reminder via e-mail. We ask the borrower to log on to the website and pay using iDEAL in his personal environment.

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If a missed payment is not made, we contact the borrower to find out the reason. If it appears that a borrower is unable to make the missed payment due to circumstances, we initially see if a payment arrangement can offer a solution. Because we charge default interest on missed payments, as an investor you are compensated if a borrower pays late.

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If we do not succeed in getting in touch with the borrower or if a payment schedule is not met, we claim the loan and start a legal collection process. In your dashboard, you can see whether you have claims on loans that are in arrears.

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What does my monthly payment consist of?

The monthly payment consists of principal, interest and service charges you pay.

How are loan interest rates determined?

Interest rates for new loans are determined largely by the then current rates in the personal loan market. Salarise adjusts interest rates periodically or when there is evidence that interest rates need to be adjusted in between.

What are the characteristics of loans you provide?

Salarise provides loans with the following features:

Annuity loans to consumers. The loans have a fixed term and a fixed monthly amount.
Loans are provided from EUR 1,000 up to a maximum of EUR 25,000
Duration range from 6 to 120 months
Loans are made only to employees working at companies that partner with Salarise. This way, we know that people have an earned income and that they work at companies that are committed to the financial health of their employees.
We provide loans in accordance with the lending standards drawn up by the Vereniging Financieringsondernemingen Nederland. These standards were drawn up in cooperation with the AFM and the NIBUD so that lenders can provide loans responsibly.

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Who can borrow money from you?

Salarise only lends money to employees of companies that partner with Salarise. This ensures that we only lend money to people who have an income and that they are working for an employer that is committed to the financial health of its employees. It is also necessary that someone lives in the Netherlands and has a Dutch bank account.

What checks do you perform before someone can borrow money?

We assess loan applications based on the loan standards of the Vereniging Financieringsondernemingen Nederland (VFN). The VFN standards have been drawn up in cooperation with the AFM and the NIBUD (National Institute for Family Finance Information) to protect consumers against overcrediting. Among other things, we look at (fixed) expenses, income, payment behavior and the personal situation of an applicant. In this way we try to prevent people from getting into trouble because of a loan from Salarise. This is better for the borrower, but also for our investors.

What data and documents do I need to submit to you in order to invest?

Investing through Salarise requires that we know who we are dealing with. We therefore ask you to identify yourself with ID and answer some questions.

What collateral do I have as an investor?

We periodically transfer loan receivables to investors through deeds of assignment. The receivables then belong to you and Salarise is only responsible for collecting installments and distributing funds received to investors. To protect investors in the event of Salarise's bankruptcy, all payments are made through a segregated bank account of Salarise Foundation. If Salarise goes bankrupt then the foundation is responsible for collecting installment payments from borrowers. The foundation then ensures that the money reaches the ultimate beneficiaries.

What is the maximum amount I can invest?

Salarise allows you as a private investor to have a maximum of €80,000 outstanding at any one time. We recommend that you invest no more than 10% of your available assets in personal loans.

What costs do I incur as an investor through Salarise?

Service fee
When you invest, you pay a monthly service fee. The service fee is 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 a monthly service fee of €10,000 x 1.5% / 12 months = €12.5.

Withdrawal Fee
Having monthly payments of interest and principal received is free of charge at Salarise. If you use the option to withdraw part or all of your investment immediately, a one-time withdrawal fee applies. This withdrawal fee is equal to 1.0% of the withdrawal amount.
NOTE: You can only withdraw the money you have deposited but which has not yet been used to fund a new loan.

Collection Fees
Fees may be charged when a loan is claimed. In particular, these costs consist of court and bailiff fees and are initially recovered from the borrower. If this is not possible, these costs are passed on proportionately 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 an individual, your investment falls into Box 3 with other investments and savings. Your information is not passed on by Salarise to the Internal Revenue Service. So you have to report this 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 to do this. This way we make it easy for you to comply with this obligation.

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Frequently asked questions

Employees

Employers

Investors