Employee Loan Application
Most companies allow employees to request for loans thereby making it a very crucial process especially when it comes to record keeping. HCM simplifies all this for the HR. The Employee is able to apply as shown on the screenshot. All the Employee has to do is to state the amount requested, monthly payment under Repayment and narration and saves it as draft in-case an update is needed.
Upon filling up the application, the applicant should have a view as shown. HCM then automates the installments based on your monthly repayments. Finally, the employee has to select on the 'Apply for loan' at the bottom menu and press the action button to fully forward the application to the HR for approval