Let employees apply for loans and salary advances in seconds, with repayments deducted automatically through payroll.
Loans & Advances handles employee loans and salary advances from application to final repayment. Employees can apply and track their requests, while administrators get a single dashboard showing total loans issued, what’s still outstanding, what’s been repaid, and what’s waiting for approval. Once a loan is approved, repayments are deducted from the employee’s salary automatically, so no one has to track them by hand.
How it works,
Employee applies - for a loan or a salary advance, with the amount and repayment period.
It goes for approval - the request is reviewed through your approval process.
Repayment terms are recorded - once approved, the amount and repayment schedule are saved.
Repayments are deducted through payroll - the monthly repayment (EMI) is deducted from the employee’s salary automatically.
The balance goes down - the outstanding amount reduces with each repayment, until the loan is fully repaid.
For example, a ₹30,000 loan repaid over 6 months is deducted as ₹5,000 from the employee’s salary each month.
How to Access Loans & Advances
Log in to PrimeHR.
Go to Loans & Advances from the sidebar.
How to Apply for a Loan
Go to Loans & Advances.
Click Apply for Loan.
Select the employee for whom the loan is being applied.
Enter the loan amount and repayment tenure.
Enter the Rate of Interest as a percentage per annum.
Select the Start Month and Start Year for loan repayment.
Review the details and submit the application.
You can track the status of your application from the Loans & Advances page. The fields in the application form may vary depending on your organization’s setup.
Loans Dashboard
The summary at the top shows:
Total Loan Amount - the total amount of loans issued
Active Balance - the amount still to be repaid
Paid Amount - the total amount repaid so far
Pending Requests - loan applications waiting for approval
Recent Applications
For each loan or advance request, the list shows:
Employee - the employee’s name and employee ID
Type - Loan or Advance
Amount - the requested or approved amount
Tenure - the repayment period
Start Date - when the loan or advance begins
Status - the current status, such as Pending or Approved
Actions - click the View icon to see the full application details
Why it helps
Employees can apply for loans and advances without paperwork
Repayments are deducted through payroll automatically, with no manual tracking
See total, outstanding, and repaid amounts at a glance
Every application and its status is kept in one place, ready for payroll and audits