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Loan Application Management

Last Updated: October 27,2025 Document Version: 1.0 **Prepared for:**Emgage HRMS Implementation Team

Streamlined Employee Loan Handling
The Loan Application Management module simplifies how administrators and employees manage loan requests — from applying and calculating EMIs to tracking approval and disbursement stages.

Overview​

Key Benefits This feature enables both HR/Admins and employees to:

  • Apply Digitally: Employees can submit loan requests online.
  • Automate EMI Calculations: Instant EMI breakdown based on entered amount and tenure.
  • Track Request Status: Real-time updates on approval, pending, or disbursed loans.
  • Centralized Policy Access: Review applicable loan policies before submission.
  • Transparency: Maintain full visibility from request creation to disbursement.

Alt text​

Step 1: Viewing Existing Loan Requests​

Navigate to Loan Applications → Loan Requests to view all ongoing and past loan records.

Each record displays:

  • Employee Name
  • Loan Type (e.g., Home, Gold, Car, Personal)
  • Loan Policy (with quick “View Policy” button)
  • Schedule (e.g., 0/12 payments completed)
  • Requested Amount & Disbursed Amount
  • Requested Tenure & Approved Tenure
  • Status (e.g., Pending, Disbursed, Approved)
  • Approval Status indicators
  • Cancel Request option

!Loan Request Table

Example For instance, Sajjan Arora has a Gold Loan with ₹90,000 requested and ₹45,000 disbursed over 12 months.

Step 2: Creating a New Loan Request​

Alt text Click on the + Loan Request button to initiate a new loan.

!Loan Request Button

Fill Out Loan Request Form​

  1. Select Employee – Choose the applicant’s name from the dropdown.
  2. Select Loan Type – Choose the applicable category (e.g., Home, Gold, Car).
  3. The Policy Summary auto-populates with:
    • Interest Rate
    • Tenure Range
    • Maximum Amount
    • Employee Experience
    • Salary Details (CTC & Gross)

!Loan Request Form

Auto Policy Display Selecting the loan type instantly loads the associated Loan Policy and Salary Details, ensuring transparency before proceeding.

Step 3: Entering Loan Details and EMI Calculation​

Alt text

Fill in the following fields under Loan Request Details:

  • Requested Amount (₹)
  • Tenure (Months)
  • The system auto-calculates the Estimated EMI based on loan parameters.

Below, an EMI Breakdown Table appears showing:

  • Month Number
  • Principal
  • Interest
  • Total Payment
  • Remaining Balance

!EMI Breakdown Table

Instant EMI Estimation Once the amount and tenure are entered:

  • The EMI breakdown is generated automatically.
  • Each row shows the decreasing balance month by month.

Step 4: Submitting the Loan Request​

Alt text Complete the remaining fields before submission:

  • Reason – Enter purpose (e.g., personal use, medical, renovation).
  • Terms & Conditions Checkbox – Must be accepted to proceed.
  • Use Reset to clear fields or Submit to send the request.

!Submit Loan Request

Confirmation Message Upon successful submission, a message appears: "Loan request created successfully"

Step 5: Tracking Request Status​

Return to the Loan Requests tab to view the updated list.

  • The new request appears with Pending status under the Status column.
  • Once approved by the admin, it moves to Disbursed or Approved states.
  • The Approval Status dots visually represent progress.
  • You can also Cancel a pending request before approval.

!Pending Loan Request Status

Status Indicators

  • Pending – Waiting for approval.
  • Disbursed – Loan amount released.
  • Approved – Ready for disbursement.
  • Rejected – Request declined by admin.

Step 6: Admin and Disbursement View​

Alt text

Admins can switch to the Pending Approvals or Disbursement tabs to:

  • Review and approve pending loan applications.
  • Manage EMI schedules and disbursed amounts.
  • Monitor completion progress (e.g., 0/12 installments paid).

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