Loan Management

Employee Loan Management enables the Company to manage and track the administration of Loans provided to Employees in case the Employer provides the Loan directly or even if the Loan is provided by a Third Party.  The application enables you to define different Loan Types and Loan Agreements, with and without Collateral, with and without Guarantors, at specific interest rates, which can be issued to Employees.  Many paramaters can be used to define the Loan Amount which an Employee is eligible for based on the Employee’s Salary, Seniority, and/or other factors.  Employees can request Loans through Self-Service and can request an adjustment or early Repayment or restructuring of the Loan and can monitor their Loan Balance online.  Loan Installments can be automatically deducted through the Payroll.

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