What is a SOLmate Cash Advance?

How do I know if I am eligible for a Cash Advance?

If you are eligible, a Cash Advance offer will appear on your SOLmate home screen. If no offer appears, a Cash Advance is not currently available to you.

How do I apply for a Cash Advance?

Open the offer in the SOLmate app, choose the available amount and repayment option, and review the full repayment details. You will then be asked to consent to a credit check, review and accept the loan documents, and enter the OTP sent to your registered mobile number to sign the agreement.

Does applying guarantee that I will receive a Cash Advance?

No. A credit check is completed with your consent before the Cash Advance is approved. Your application may be approved or declined based on the assessment.

When will I receive the money?

Once your application has been approved and you have successfully signed the agreement using the OTP, the money is paid into your SOLmate wallet immediately.

Where can I view my Cash Advance details?

Open the Cash Advance section in the SOLmate app to view your outstanding balance, repayment dates, instalments and loan documents.

How do repayments work?

Repayments are deducted automatically from your SOLmate wallet on the due date shown in the app. Make sure there is enough money in your wallet before the payment is due. If your repayment plan has two instalments, each instalment will be deducted on its own due date.

What happens if there is not enough money in my wallet?

Any available balance may be deducted as a partial payment. The remaining unpaid amount will become overdue, so you should top up your SOLmate wallet as soon as possible.

What happens if my repayment is late?

A three-day grace period applies after the due date. If the outstanding amount is still not paid after this period, daily penalty charges will begin. Late or missed repayments may also be reported to a credit bureau.

Can I repay my Cash Advance early?

Yes. Open your Cash Advance details in the app and request a settlement amount. The settlement quote will show the amount needed to repay the Cash Advance in full and is valid for five business days.

What happens if my non-payment is reported to a credit bureau?

The credit bureau may keep the record for at least five years. This could affect your ability to get a loan or other credit from SOLmate or another provider in the future.