Loan Management: Flexible Financial Support for Your Employees!
Employees sometimes face financial difficulties that require quick assistance. With Ektefa HR, loan
management becomes easy and transparent. The system allows employees to submit loan requests
electronically, follow them through approval workflows, and track repayment installments with
flexibility and precision.
Key Features
Employees can submit loan requests directly through the self-service app.
Approval workflows
Each request follows a defined approval chain, ensuring fairness and transparency.
Installment management
Define repayment amounts and track monthly deductions automatically.
Payment tracking
Monitor monthly payments and update their status (Paid/Deferred).
Installment deferment
Flexibility to postpone installments when needed.
Multiple loan types
Support different loan categories with customizable deduction methods.
End-of-service loans
Allocate loans to be deducted from end-of-service benefits, reducing long-term financial
impact.
Adapt to different salary structures and labor regulations.
How it Works
Request submission
Employee submits a loan request through the app.
Approval process
The request follows the defined approval workflow.
Installment setup
Define installment value and link it to monthly salary.
Tracking and updates
Monitor repayments with the option to defer installments.
Benefits for Your Organization
Enhance employee satisfaction by offering flexible financial support.
Ensure transparency through approval-based processes.
Simplify financial management with automated loan tracking.
Align with company policies by customizing loan types and repayment rules.
Integrate Loan Management into your HR strategy with Ektefa HR!
Accuracy, flexibility, and transparency to support employees and streamline payroll.
Ektefa HRMS a powerful SaaS human resources management system tailored for the Saudi market. Consolidate all your HR needs into one seamless platform. Request a demo today and experience clear, hassle-free HR management.
ektefa.net © 2024. All Rights Reserved | Powered by ZAD IP Groups
