Loan Application is a document which contains the information regarding the Loan Applicant, Loan Type, Repayment Method, Loan Amount and Rate of Interest.

1. Prerequisites

Before creating a Loan Application, it is advisable to create the following documents:

• Employee
• Loan Type

2. How to create a Loan Application

To access Loan application list, go to:

Loan > Loan Application

3. Features

3.1 Repayment Method

There are two types of Repayment Methods in Loan Application:

• Repay Fixed Amount Per Period
1. Enter the Monthly Payment Amount.
2. Save.
3. Once saved, based on the Rate of Interest, the Total Payable Interest and Total Payable Amount will be calculated along with Period in Months.
4. Submit.
• Repay Over Number Of Periods
1. Enter the Repayment Period in Months.
2. Save.
3. Once saved, based on the Rate of Interest, the Total Payable Interest and Total Payable Amount will be calculated along with Monthly Repayment Amount.
4. Submit.