Add a Loan Option in HRM

Define loan categories to support salary deductions, employee benefits, and financial reporting — with clear naming for audit and HR clarity.

🔐 Access Control

• Only Admin users or staff with HRM setup permissions can add or edit loan options
• From the Dashboard, use the side menu to navigate: HRM → System Setup → Loan Option

🧭 Step-by-Step: Add a Loan Option

1️⃣ Open Loan Option Setup

• Navigate to the Loan Option section under System Setup
• Click the ➕ icon to open the “Create Loan Option” form

2️⃣ Enter Loan Option Details

• Name*: Enter the loan category name — this can reflect:
  • Health Insurance, Other Insurance, Home Loan, Personal Loan
  • Financials Loan, Education Loan, Emergency Advance
  • Company Vehicle, Relocation Support, Compliance Loan

Use clear, benefit-relevant names that reflect how the loan is structured or applied.

3️⃣ Save the Loan Option

• Click Create to add the loan type
• The new entry will appear in the list with action icons:
  • 🖊️ Edit
  • 🗑️ Delete

✅ Best Practices

• Use consistent naming across branches and payroll policies
• Group loans by purpose or deduction type for clarity
• Add all relevant options before configuring salary components or payslips
• Review loan list quarterly to reflect policy changes or benefit updates
• Avoid vague names like Misc or Other — be specific for audit readiness