How can an employee apply for a loan?

A few organizations have a provision wherein the employees can apply for loans from the organization itself. These loans are often given at subsidized rates or sometimes even at zero interest.  On Keka, the organization has the choice to set the interest rates as per their requirement for different loan categories.

To be able to apply for a loan, an employee must first be assigned to a loan policy.

Now, let us look at the process for applying for a loan on the Keka portal –

Go to the My Finances (1) section. Then go to Loans (2) and click on Apply New Loan (3).

An overlay window will appear where you can select the loan category, and enter details (1) like the loan amount, the number of payment installments, EMI start date, etc.

After entering all the details, upload supporting documents by clicking on Upload Document (2).

You can see the entire breakup of the loan amount, along with the total repayment amount, total interest amount and other details by clicking on View details (3), and another overlay window will appear as shown.

Once all the details are entered, click on Apply.

Once applied, an email will be triggered to the concerned person in the approval chain.

The loan request status can be seen by going to Loan Request (1) and under Loan Request Status (2).

Please let us know if you found this document helpful. If you have any other queries, check out our FAQ articles or contact our product experts!