Is it possible to pause loan repayments for my employee temporarily?

Yes, you can pause loan instalment deductions using the Pause option and resume it after some time. To pause loan repayments:

  • Go to the Loans module.
  • Select the employee for whom you want to halt the loan repayments temporarily.
  • Click the More icon (three horizontal dots) on the top right corner and select Pause Instalment Deduction.
Pause Loans
  • You can choose to pause the loan instalment deductions Immediately or from a Scheduled month.
  • If you’ve selected On Scheduled Month, select the month from which the instalments need to be paused.
  • Select the month from which you want to resume the loan deductions. If you do not want to specify it, you can leave it empty.
  • Enter a reason and click Save.
Pause Loans

The loan deductions will be paused for the employee for the selected period.