Hi TRM Experts,
Need advice on below mentioned requirement.
My client (company) has the policy to reimburse housing loan interest through payroll to its associates who have availed housing loan from the Banks/ FI.
Above requirement can we able to implement in SAP TRM module or not? if it is possible in SAP TRM then please advice on solution part/ process.
Some of the details is as follows:
- The Housing Loan can be upto Rs. (XXXX) lacs payable in EMI’s within a maximum period of (XXXX) year’s Interest rate as per bank interest rate.
- My Client (Company) shall reimburse 50% of the interest based on applicable Bank Home Loan effective rate (floating link) with respect to loan amount upto Rs. (XXXX) lacs. Any change in the same shall be adjusted in the subsequent month’s interest subsidy.
- Interest rate is subject to change i.e. increase or decrease, so multiple rates will be maintained in SAP.
- Principal amount will be ads (top up) on monthly basis, so their interest should be calculated on total principal amount for future benefit without disturbing the old paid benefits.
- All the personal & loan related information should be shown/adds on in SAP.
- If there were two loans in SAP for a same associate then in final report both should be calculated.
- In case if the loan of the associate is more than Rs. (As per Annexure - C) lacs and the tenure is more than (As per Annexure - D) years, interest subsidy will be calculated on the basis of (As per Annexure - C) lacs payable in EMI’s within period of (As per Annexure - D) years on reducing balance.
- In case of early closure/repayment of loan, subsidy on the interest will be discontinued / adjusted accordingly.
- In case the associate resigns within 4 years of availing interest subsidy benefit, 55% of the amount extended as subsidy shall be refundable by associate and in case associate resigns within 8 years the refundable amount shall be 50% of availed interest subsidy.(To be taken care in his full & final )
- The benefit of this policy can be availed only once by the eligible associate during the service tenure. However for the associate whose loan amount is less than his eligibility will be allowed to have one top up opportunity to have loan amount increased upto (As per Annexure - A) lacs if they wish so.
- My Client require the final report of interest subsidy payment in excel format in which payment details comes as per 50% of interest amount for all associates.
Please advice, whether can we able to implement in SAP TRM module or not? if it is possible in SAP TRM then please advice on solution part/ process.
Regards,
BAS