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 while ensuring 100% recovery through automated payroll sync.
Loan Workflows
Employees apply for loans via the portal. Managers review eligibility and approve based on digitized policies instantly.
Automated Recovery
Set EMI schedules. The system automatically deducts the installment from the salary slip each month until closure.
Interest Calculation
Optionally define interest rates. The system calculates taxable perquisites for interest-free loans automatically.
Loan Management ROI
The operational impact of automated financial assistance.
Employee Financial Services Benchmarks
Tracking employee loans on spreadsheets is a significant financial risk, especially during employee separations. Kiework's integrated loan module ensures that every installment is recovered automatically and that outstanding balances are proactively flagged during the exit process. The following benchmarks detail the efficiency gains and financial security achieved by moving from manual tracking to an automated lending workflow.
Employee Financial Services Benchmarks
| Loan Lifecycle | Kiework Automated | Benefit |
|---|---|---|
| Eligibility Check | Instant System Validation | 100% Policy Match |
| EMI Deduction | Auto-sync with Payrun | Zero Missed Recovery |
| Exit Recovery | Auto-flagged in FnF | Zero Financial Loss |
| Transparency | In-app Loan Ledger | Zero Employee Queries |
Operational impact of switching from Manual Spreadsheet Tracking to Kiework Automated Recovery.
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.