Staff Loans

Apply for staff loans, view repayment schedules, and track loan statements.

Quick Access

Note: This feature requires HR_STAFF_LOAN to be enabled.

For Employees

What is a Staff Loan?

A staff loan is a loan facility provided by your employer, typically with:

• Lower or no interest compared to external loans
• Convenient repayment through salary deduction
• Quicker processing than bank loans

Checking Loan Eligibility

Before applying, verify:

• Minimum service period met
• No existing outstanding loans (or within limit)
• Within maximum loan amount allowed
• Good standing with company

Applying for a Staff Loan

1. Go to HR → Staff Loans (/hr/staff-loans)
2. Click + New Loan Request
3. Complete the application:
   • Loan Amount - Amount requested
   • Purpose - Reason for loan
   • Repayment Period - Preferred months
   • Supporting Documents - If required
4. Submit for approval

[Screenshot: loan-application-form]

Loan Request Details

Tracking Loan Status

Viewing Your Loan Statement

1. Go to HR → Staff Loans
2. Click on your active loan
3. View loan statement:
   • Original amount
   • Total repaid
   • Outstanding balance
   • Repayment history

[Screenshot: loan-statement]

Understanding Repayment

Loan repayment is typically:

• Automatic salary deduction
• Fixed monthly amount
• Shown on payslip as deduction
• Continues until loan is fully repaid

For Managers/HOD

Loan Recommendations

Managers may be asked to:

1. Verify employee eligibility
2. Provide recommendation
3. Confirm employment status

Final approval typically rests with HR/CEO.

For CEO/HR Admin

Reviewing Loan Requests

1. Go to HR → Staff Loans (/hr/ceo-staff-loan or admin view)
2. View pending loan requests
3. Review each application:
   • Employee details
   • Requested amount
   • Purpose
   • Repayment capacity
   • Employment history

[Screenshot: loan-approval-admin]

Approving Loans

1. Review loan application
2. Verify:
   • Employee eligibility
   • Amount within policy
   • Repayment feasibility
3. Set terms:
   • Approved amount
   • Interest rate (if any)
   • Repayment period
4. Click Approve or Reject

Loan Disbursement

After approval:

1. Prepare disbursement
2. Process payment
3. Record disbursement details
4. Update loan status

Loan Settings

Viewing Loan Statements

1. Go to loan details by loan ID
2. View complete statement:
   • Disbursement date
   • All repayments
   • Outstanding balance
   • Projected completion

Managing Active Loans

HR can:

• View all active loans
• Track repayment status
• Handle early settlement
• Process loan adjustments

Loan Calculation

Repayment Calculation

Monthly Payment = (Loan Amount + Interest) ÷ Tenure Months

Example:
Loan: RM5,000
Interest: RM0 (0%)
Tenure: 12 months
Monthly: RM5,000 ÷ 12 = RM416.67

Salary Impact

• Loan repayment deducted from gross salary
• Appears on payslip
• Net pay reduced by repayment amount
• Continues each pay period until settled

Loan Workflow

Standard Process

Apply → Manager Review → HR/CEO Approval → Disbursement → Repayment

Timeline Expectations

Common Questions

Q: Can I repay early?

Contact HR about early settlement. Options may include:

• Lump sum repayment
• Increased monthly payments
• Partial early payment

Q: What if I leave the company?

Outstanding loan balance typically:

• Deducted from final pay
• Required to be settled before clearance
• May follow company policy for special arrangements

Q: Can I have multiple loans?

Depends on company policy:

• Some allow only one active loan
• Others allow multiple within limits
• Check with HR for your policy

Q: Is there interest on staff loans?

Interest policy varies by organization:

• Some offer interest-free loans
• Others charge nominal interest
• Check loan terms when applying

Tips

1. Borrow only what you need - Consider if the loan is necessary
2. Plan repayment - Ensure monthly payment fits your budget
3. Read terms carefully - Understand all loan conditions
4. Keep records - Track your repayment progress

See Also

• Payroll Overview
• Earned Wage Access