Requesting Loans and Salary Advance
Accessible to : Employees
If you are eligible for loans or salary advance as an employee you would be able to request a loan or a salary advance from this tab. Refer to the article on Loan and Salary Advance overview for more details on types of loans and taxability.
You can also view status of your in-process Loan and Instalment change requests as shown below.
1. Requesting a new loan
1. Click on "Request New Loan" button to submit a new loan request. The page shown below will open.
2. Fill up the required details and click on "Submit".
Once you submit your loan it will go for approval to you manager or department head as per the company policy. After approval it will go to the payroll manager for disbursement.
You can see where your request for new loan is pending. Once all the recoveries
are done the status of loan would change to "Closed".
1. Use "Deduction Details" button to see details of loan recovery for an existing or closed loan.
2. "Hide" a closed loan record and "Recall" a hidden record
3. Request for a change in monthly instalment
You can refer to all loan details from Payroll > Downloads > Loan Details report.
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