Apply for a loan as an employee

Purpose

This article explains how you can apply for a loan through the Employee Self Services portal.
Once your organization enables this option, you can submit loan requests for review and approval by your manager or the administrative team.

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Who should use it

This feature is available to employees eligible for company loans as per the internal loan policy.
The option is visible only if the administrator has enabled Enable Loan Module Visibility for Employees in Payroll Settings.

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When to use it

You may apply for a loan when:

• Your organization allows employee loans through payroll.
• You need to repay the loan through salary deductions (EMIs).
• You have completed the minimum tenure as required by your company’s loan policy.
• You do not have an existing unpaid or active loan (as per company configuration).

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Step-by-step guide

1. Log in as an employee.
2. Navigate to: Compensation → Loans.
   You’ll see a list of all your existing or past loan records, if any.
3. Click Apply Loan in the top-right corner of the page.
4. Enter loan details:
   • Loan Amount: Enter the total amount you want to apply for.
   • Notes: Add any remarks or reasons for the loan request.
   • Document: Upload any supporting document if required.
     (The document upload may be optional or mandatory, depending on company policy.)
5. Click Apply to submit your loan request for approval.
   Click Reset to clear all fields before submitting, if needed.
6. Receive notifications:
   After submission, you receive a confirmation via email and within the portal.
   (Additional notification channels such as mobile app alerts may also be used if configured by your organization.)

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After submission

• The loan request moves to Pending status until it is approved by the relevant approver(s).
• The approval flow may involve the manager and/or the administrator, based on Payroll Settings.
• You can track the loan’s progress anytime from Compensation → Loans.
• Once the loan is approved and disbursed, EMI deductions begin automatically from payroll based on the configured EMI Start Month.

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Pro tips

• Ensure the requested loan amount is within the limit set by your company.
• If a document upload is required, attach a clear, valid file to avoid processing delays.
• Check your eligibility and outstanding loan status before applying.

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Related articles

• Viewing Loan Details and Repayments in Employee Portal – See how you can track your active loans, EMI deductions, and repayment progress.
• Receiving Notifications for Loan Requests and Approvals – Learn how you receive notifications for loan approvals and disbursements.