Enhance Employee Well-being and Productivity
Why Sign Up with TwinSalary?
At TwinSalary, we provide tailored financial solutions that not only boost employee financial stability and well-being but also bring a multitude of benefits to employers. Here's why signing up with TwinSalary is a win-win for your organization.
About Company
Initialising, Improving, Innovating Financial Health
Welcome to TwinSalary, where our mission is to elevate financial wellness to global standards. We're a fintech lending platform that empowers employees and individuals within client organizations to access early financial advances. Twin your pay with TwinSalary!
Benefits for Employers
High Impact Creative Services to grow your business
What You Get?
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Payroll Integration
Seamless integration with your payroll system
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Employee Support
Comprehensive support and resources for employees
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Financial Wellness
Customized financial wellness programs
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In-Depth Financial Health Analytics
Detailed analytics and reports on employee financial health
Your Pay, Your Way with TwinSalary!
Elevate your workplace today by prioritizing financial well-being with TwinSalary!
Our Stories & Latest News
Financial well-being and more for you. Welcome to Financial Wisdom
February 25, 2024
Enhancing Workplace Culture: Supporting Employee Financial Health with EWA
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February 25, 2024
Securing a Brighter Future: Why Employers Should Prioritize Financial Wellness Programs
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February 25, 2024
Enhancing Employee Financial Support: A Comprehensive Guide to Salary Advance Policies
Our Testimonials
Stories From Our Customers
TwinSalary is so easy to apply. The advances come directly from your salary, so no need to manage EMI dates.
Rohan Patel
Compositor
TwinSalary gave me the opportunity to completely sort my finances. Now I live with complete peace of mind that I no longer worry for making it to the end of the month. Awesome feeling!
Saroj Kumar
Artist, Depth
Very pleasant experience. It was easy to follow and I understood the process easily. Very user friendly. The money was in my account a lot quicker than expected
Sumit Goel
Production Coordinator
With TwinSalary I have the opportunity to put all my financial affairs in the one place and have extra money available each month. The whole process was quick, simple and easy.Cheers!
Piyush Kumar
Confirmist, Editing
Your company is good in the service and work with good responsibility . I am satisfied with your response and output.
Harpreet Sehgal
Production Coordinator
TwinSalary is great option for emergency money. Great experience, quick approval and credit. Thanx a lot....
Rameshwar
Artist, Finaling
Easy to apply advances in the same day. Gives you the option to refill advances, transparent rates and repayments
Dhiresh Kumar
Human Resource
The best services I have ever got very quick and responsive excellent advances service I have ever seen I am giving you my five stars because of your excellent Service Thanks a lot
Mayank Kumar
Artist, Finaling
FAQs
Asked Questions & Answer
What is Earned Wage Access?
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 TwinSalary Employees can access up to 80% of their earned salary on demand.
Why would an Employer offer Earned Wage Access?
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.
What are your charges?
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.deducting repayments by ACH mandate. You can foreclose/repay the loan in full or make partial payment at any time, with no additional fee.
- Special discounts on occasions
- EWA is offered at Zero Interest & a minimal Flat convenience fee
- Other Advances interest charges & eligibility criteria will apply
What is the usage rate among Employees?
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%.
How can I forclose my advance?
You're free to pay off your loan whenever you wish, and there are no fees or waiting periods involved.
How is this Salary advance or EWA different from Personal loans or credit card loans available in the market?
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:
TwinSalary Vs. Other finance options available to an Employee.
| EWA & Salary Advances | Personal Loans / Credit Card loans / Payday Loans | |
|---|---|---|
| Interest rates | Zero interest for EWA & as low as 12% PA for Custom advances | High to very high |
| Fee | Flat & Minimal | High |
| Processing Time | ~ 35 mins. | Upto 14 days |
| Process & Documentation | Seamless & zero paperwork | Stressful & cumbersome |
| Credit Check/ History/ Score | Not Required | A must |
| Financial Discipline | Built-in with deduction at source model | Not any |
| Minimum Salary | Not Any | Required |
How many times the employee can avail EWA in a day/ month?
There is no limit to the number of times the employee can avail EWA in a day/ month as long as the limit is within available Earned wage bounds as mentioned in the description.
Is there any subscription/ setup fee involved for the employers?
No. It is absolutely free for employers.
Is there any liability to the organization if an employee leaves in the middle of a repayment tenure?
There is No Liability for the employer.
How will the integration happen?
All the employee data is directly synced automatically from HRMS’s system once you authorize the integration. You won’t have to worry about employee details updation, new employee onboarding, or even the left employees. All is taken care of by a secured integration between TwinSalary & HRMS in the background.
Get Started with TwinSalary Now
Get your company onboarded to TwinSalary platform and offer it's amazing benefits to your Employees.