Loan & Salary Advance Management
Support your team financially. Streamline loan applications, approvals, and automated EMI deductions.
Loan Portfolio Overview
Trusted for employee wellness
Financial Wellness for Employees
Help your employees during emergencies without creating administrative chaos. Manage loans and advances transparently.
Loan Workflows
Employees apply for loans via the portal. Managers review eligibility and approve based on policy.
Automated Recovery
Set EMI schedules (e.g., 6 months). The system automatically deducts the EMI from the salary each month.
Interest Calculation
Optionally define interest rates. The system calculates perquisites for interest-free loans if required for tax.
Empowering Employees, Protecting the Business
Financial stress is a leading cause of distraction at work. When employees face emergencies, they look to their employer for support. Offering salary advances or low-interest loans is a powerful retention tool. However, managing these requests via email and tracking repayments on spreadsheets is a recipe for disaster. It leads to lost data, missed deductions, and audit objections.
The Risk of Manual Tracking
The biggest risk in employee lending is the exit scenario. If an employee resigns with an outstanding loan balance, and the payroll team isn't aware because the data is trapped in an email thread, the company loses money. Kiework integrates Loan Management deeply with the Exit module. If an employee initiates separation, the system automatically flags the outstanding loan balance as a "Recovery" item in the Full & Final settlement, protecting the company's financial interests.
Transparent Policy Enforcement
Loan policies need to be fair and transparent. "Who is eligible? How much can they borrow? What is the interest rate?" Kiework allows you to digitize these rules. You can set caps (e.g., "Max 3 months' basic salary") or tenure limits (e.g., "Max 12 EMI installments").
When an employee applies, the system validates their eligibility instantly. If they are already paying off a previous loan, the system can block a new request based on your "One loan at a time" policy. This removes bias and awkward conversations from the process.
Automated EMI Deduction
Once approved, the loan enters the payroll engine. The Equated Monthly Installment (EMI) is automatically deducted from the salary slip every month under the "Deductions" section. The employee sees a clear running balance on their payslip ("Installment 3 of 12"), ensuring complete transparency and eliminating the need for manual tracking by the finance team.
