Importing Bulk Loans

Created by Alaika Dimagiba, Modified on Thu, 18 Jul at 3:32 PM by Alaika Dimagiba

Benefits > Team Benefits > Team Loans

Migrate your existing or new loans in bulk via Import Loan.


How to import loans

Firstly get the import template from the Team Benefits > Team Loans page, click the "Download Template" and an excel file format will automatically be downloaded.

Tip: KAMI can automatically calculate your loans based on the fields you will input.

When the Calculation is NO

The system will calculate the loan based on the rates you will provide in the templates.

Fields you need to complete:

  • Employee ID* - Required
  • Employee Name - Optional
  • Calculate - NO
  • Drawdown Date* - The date when the loan originated
  • Loan Amount* - The original principal amount requested before interest
  • Loan Types - Check and select the available loan types configured in benefits settings
  • Yearly Interest Rate - The annual interest applied to the loan amount
  • First Installment Start Date - The date when the first loan will be deducted from the employee's salary

E.g. If you select 1st August as the first installment start date and Monthly as installment frequency, then installment payment dates will be 1st September, 1st October, and so on.

First Installment Start date can be same as Drawdown date andf left it blank, it will automatically set to drawdown date.

  • Installment Period - Loan amount frequency (Bi-weekly, Semi-Monthly, Monthly, Quarterly, Yearly)
  • Number of Installments Months - The total number of installment months for the loan
  • Installment Date - The date on when the installment should be created every month

Bi-Weekly and Semi-Monthly requires two installment start date, while Monthly, Quarterly and Yearly do not require to provided installment start date as the system will be based it on the first installment start date. 

If you select Semi-Monthly as installment frequency and then installment dates can be 15 and 30 or same to your payroll or attendance cut-off start date.

  • Installment Amount* - Specify the amount to be paid per installment

Other fields to input on the template:

  • Loan Account Number
  • Installment Grace Period - If payment can be delayed by Daily or Monthly basis
  • Installment Grace - The exact number of days or months in delaying the payment

E.g. If Daily is selected as Grace Period & 15 is added as Installment Grace, payment can be delayed by 15 days from Installment date.

  • Number of Paid Installments - The number of months that have already been paid. Put if there's no installment month that has been paid yet
  • Outstanding Balance - The remaining amount to be paid by the employee
  • Total Interest Paid - The amount paid for the interest rate
  • Total Principal Paid - Loan Amount less (Monthly Installment Amount * Paid Months)

When the Calculation is YES

Let the system calculate the loan based on the settings configured in Loan Types.

If calculate is yes, you are required to just complete the following fields in the template.

  • Employee ID* - Required
  • Employee Name - Optional
  • Calculate - YES
  • Drawdown Date*
  • Loan Amount*
  • Loan Types
  • Number of Installments Months
  • Number of Paid Installments

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