Salary Check-Off Service
Mali’s Salary Check-Off Service is a structured repayment system offered to businesses that receive Asset Finance or Developmental Loans from Mali. This service allows employers to deduct loan repayments directly from an employee’s salary, ensuring secure, predictable and responsible repayment for both the employer and the employee. It strengthens business stability, supports staff financial well-being and protects the credit performance of companies funded by Mali.
Check-off is not a loan on its own — it is an internal repayment mechanism available only to staff working in businesses financed by Mali. The service ensures that employees who access Mali credit do so safely, with authorised deductions aligned to their salary cycle.
Salary Check-Off Overview
A structured repayment solution for businesses funded by Mali, allowing safe loan deductions directly from employee salaries.
- Eligibility:- Employees of businesses that have an active Mali credit facility.
- Purpose: Secure payroll deduction of loan instalments.
- Loan Amount: - R500 to R8000.
- Repayment Period: - 3 Months.
- Interest Rates:- As per NCR Short Term Credit Guidelines.
- Initiation and Service Fees:- Charged According to NCR Regulations.
- Repayment Method:-Employer-administered salary deduction.
- Payout: Deposited directly into your active salary bank account.
- Agreement Required: Employer consent and payroll integration.
- Fees: No additional charges to the employer for onboarding.
- Benefit: Ensures responsible borrowing and supports workforce stability
Salary Check-Off Service Requirements
To activate the check-off system, the employer and employee must provide the required documentation and authorisations.
- Valid South African ID.
- Active business loan or asset finance facility with Mali.
- Employer consent to participate in the Payroll Check-Off Programme.
- Signed payroll deduction agreement between Mali and the employer.
- Latest payslip as proof of income
- Successful affordability assessment.
- Confirmed DebiCheck mandate for repayment.
- Must be a MyChama Stockvel member for a minimum of 3 months.
- Must have saved at least 20% of the loan aount through MyChama Stockvel as part of the eligibility requirement.
- Employee consent form authorising salary deductions.
How It Works
Once a business has been approved for Asset Finance or another developmental loan, they may opt into Mali’s Salary Check-Off Service. Employees who qualify for Mali credit complete the application process and authorise salary-based deductions. The employer confirms participation and provides payroll verification. Each month, the agreed repayment amount is deducted directly from the employee’s salary and remitted to Mali.
This system reduces default risk, protects employees from missed payments and promotes a culture of responsible borrowing. It also ensures that companies supported by Mali maintain strong financial performance through stable, predictable repayment flows.
FAQs
-
Who can use the Salary Check-Off Service?
Only employees whose employer has an active credit facility with Mali (such as Asset Finance) and has agreed to participate in the programme.
-
Does the employer pay anything to use this service?
No. There are no additional fees for employers to implement the check-off system.
-
Why is DebiCheck still required?
DebiCheck serves as an added layer of protection and compliance, ensuring that deductions are authorised and secure even if employment situations change.
-
What happens if an employee resigns or changes jobs?
The employee remains responsible for the loan, and the repayment method will revert to their personal DebiCheck mandate.
-
Can an employee opt out at any time?
No. Once the credit agreement is signed, the deduction remains in place until the loan is settled.
