Loan Disburse

Users have the option to add/edit/view/delete Loan details of employees.

Go to Transactions >> Loan Management  >> Click on Disburse Loans

Click on"New" to add a new loan record

Click on "Import" to import new loan records in bulk

Click on "History Import" to import the Loan History data.

  • To search the record enter  either the Employee Code, Name or Loan name in "Code/Name/Loan Name"
  • Select the "Loan Name" from the drop-down 
  • Enter the "Loan Description", like a reason for giving the loan, additional remarks, etc…
  • Enter the "Loan Amount".
  • Enter the "Loan Disbursed Date".
  • The "Opening Balance" field will be auto-fetched from the amount entered in "Loan Amount".
  • Enter the "Repayment Start Date" from when the repayment should commence.
  • Select the "Recovery Type" if monthly, quarterly, half-yearly, or yearly.
  • Select the "Interest Type" from the drop-down.
  • Enter the "Rate of Interest", if any
  • Enter the number of EMIs in "No. Installments".
  • Select the "Round-off Value" from the drop-down.
  • Select "Calculate Perquisite", if perquisite should be calculated
  • Select "Is External Loan", if the loan repayment has to be paid to an external agency
  • Click on "Repayment Schedule" to generate the Schedule with the details of the number  of Installments & Payable Amount 
  • Click "Save"