How can employee apply for loan in greytHR application?

A loan is a arrangement where an individual, business, or organization borrows a money from a lender with the agreement to repay the borrowed amount, usually with interest, over a specified period of time.

To apply for a loan, the employee must perform the following actions:

1. From the greytHR ESS login, navigate to Salary > Loans and Advances. The Loan and Advances page opens.
2. Click the Apply Loan tab. The Apply/Pending/History tab appears.
3. Under the Apply tab, from the Loan Type dropdown list, select the required loan type. A form opens.
4. In the Loan Amount textbox, enter the amount for which you want to apply for loan.
5. In the Loan Tenure textbox, enter the duration in months for which you want to apply for the loan.
6. From the EMI Start Month dropdown list, select the required month.
7. In the Remarks description box, enter the required remarks.
8. Click Attachment. A dialog box appears.
9. In your system, browse to the folder, select the document and click Open.
10. Click Apply. The Apply Loan pop-up appears. 
11. Click Confirm to apply for the loan. 

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Related Links:

Video- To watch the video on Managing employee loan, click here.

FAQs- To read more FAQs about the Loan, click here.

Documentation- To learn more about Loans, click here.

Product Update- To read about the product update, click here.