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n Loan Request: The worker submits a proper mortgage request, typically by way of an application kind provided by the HR division.
Documentation: Required documents corresponding to ID proof, wage slips, and in some cases, proof of the financial need are submitted along with the appliance.
Approval Process: The HR and finance departments review the application, assessing eligibility and the employee’s monetary health.
Loan Agreement: Upon approval, a loan agreement detailing the quantity, rate of interest (if any), and repayment terms is signed.
Disbursement: The loan amount is disbursed to the employee, either directly to their checking account or via a che

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n Straight-Line Deduction: Equal month-to-month installments are deducted instantly from the employee’s salary until the mortgage is absolutely repaid.
Lump Sum Repayment: Employees may select to repay the whole loan quantity in a single go if their financial scenario improves.
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