How to define a loan category and add a loan policy

In Keka, organizations can configure loan policies with specific terms like minimum employment duration, salary limits, and EMI terms. Loan categories (e.g., education, housing, personal) are defined by their interest rates and terms.

Steps to Define a Loan Category:

1. Log in to your Keka portal and click on Payroll ➔ Loans ➔ Policies & Settings.

2. Click on Loan Categories and then + Add Loan Category.

   

3. In the Add Loan Category window, create a Category Name and select a Category Icon.

4. Enter a Category Code and Description for the category, then click Save.

   

Steps to Add a Loan Policy to the Loan Category:

1. Go to Payroll ➔ Loans ➔ Policies & Settings.

2. Click on Loan Policies and then + Add Loan Policy.

   

3. In the Configure Loan Policy window, enter the Policy Name and Description.

4. Under Loan Eligibility Criteria, check the appropriate boxes for eligibility (e.g., probation, notice period).

5. Modify the Approval chain as needed and click Save.

   

Steps to Link Loan Category to Loan Policy:

1. Go to Payroll ➔ Loans ➔ Policies & Settings.

2. Under Loan Policies, find Loan Categories.

   

3. Click on + Add Category, select the category you created earlier, and click Add.