The Payroll Management Software provides a unique feature for handling the applications for loan proposed by the
employee.
In this software, the company can specify in beginning, the different types of Loans that can be sanctioned
to the employees along with the interest rate and the necessary documents required to be submitted.
The Maximum Loan amount for each type is alsospecified in advance.
When the employee applies for a particular loan, those details are entered in the "Loan Application form"
where it automatically calculates the MONTHLY INSTALLMENTS on the basis of the loan amount,
interest rate, and the Loan period.
For Security purpose only an authorized person can sanction the loan and make disbursements.
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