Loans without online loans are in the prime. Before applying, it is best to know what the advantages and disadvantages of a loan without this online loan.
The necessities of life are often times you could never have imagined. Everyone will find a time where they are in dire need of funds. Let’s say you run the risk of having an accident that requires repairing your car, getting hospitalized, having a natural disaster, and having to pay for your child’s school reimbursement. In these situations, savings and emergency funds are always a priority. But how come the savings you have are gone and the emergency funds are depleted?
Based on these concerns, banks and financial institutions make loan products unsecured. Loans with unsecured or better known KTAs (Credit Unsecured) are actually known from one of the banks outside Standard Chartered that introduce personal or personal loans. These personal loan products then began to be adapted by other banks in Indonesia, whether private or government.
As time goes on, unsecured loan products are now available online so you don’t have to come to the bank. As the saying goes, don’t know then, unfortunately, in order to become more aware of unsecured loans, you must first know what the advantages and disadvantages of unsecured loans are before applying for a loan. Let’s see it together!
Advantages of Online Loanless Loans
It is not without reason that these unsecured online loans are widely viewed and favored. It turns out that there are a lot of advantages that it has:
No Warranty Required
As the name implies, this unsecured loan requires no collateral or guarantee if you want to apply for a loan. Different from a type of loan with a loan or a multipurpose credit that requires you to provide a guarantee when applying for a loan. This will be very useful for those of you who do not have any assets or valuable papers such as home certificates, ECPB (Motor Vehicle Ownership Book), and so on.
The process is easier and faster
Since everything is done online, you can submit anywhere and anytime without having to wait for bank hours. Plus, the process of disbursement is also faster as all the data and documents are digitized so that they can be processed directly by the bank. Unlike when you apply for a loan offline, all your data and documents are physical so they have to be scanned in advance to be digital.
There are so many options
This online unsecured loan product is owned by almost every bank in Indonesia so you can compare and choose which one offers you the best deal. Find offers with low interest rates to make your monthly installment lighter and less burdensome.
Can Be Used For Anything
The advantage of this online loan is that it can be used for any purpose, ranging from paying for hospital expenses, vehicle repairs, home renovations, wedding expenses, venture capital additions, and more. Of course this is different from other types of bank loans such as KKB (Motor Vehicle Credit) that are only allowed to buy a vehicle, Mortgage (Home Ownership Credit) to buy a home, to KUR (People’s Business Credit) provided for venture capital only.
The Loan Offer Offered is Large
The loan plan provided to you is also quite large. An average online unsecured loan will give you a loan of at least $ 5 million to a maximum of hundreds of millions. Although you can lend a large amount of debt, it doesn’t mean you have to lend a large amount. Apply the loan amount as needed.
Flexible Tenor Time Offered
The last advantage is that the tenor or tenure of an unsecured online loan is flexible enough to allow you to pay off the installments on time. The maximum tenor term can be up to 60 months (5 years). If applying for a home loan online, try to find the right tenor. If your monthly income is limited, then take a long or maximum tenor period so that the installment is not in arrears. But if your income is large enough, take a short tenor so the installment can pay off quickly.
Lack of Loans Without Online Loans
Every banking product has its disadvantages, without the exception of online unsecured loans. Then what’s the point? Let’s see with Dude !
Highly Relative Flowers
The first downside is that these unsecured online loans have relatively higher interest rates than other types of loans. This is because you do not provide collateral as collateral for your loan. Usually in the first and second year, the flowers provided are flat flowers, but after that the flowering is a floating flower that follows the market interest rate.
Must Have a Credit Card
The second disadvantage is that you have credit card ownership requirements. Why have a credit card? Because of your credit card, your bank can see how much you pay in monthly installments. But not all banks require credit card ownership coke. There are some who don’t provide credit card terms like Best Bank, Cream Bank, and more. So, always look for the conditions given by the provider of the online payday loan.
In payday loans online, there are minimum requirements that nominal income will vary depending on the bank providers. Some require a minimum income of Rp3 million, $ 5 million, up to $ 10 million. This minimum income difference will affect the nominal loan plan you can apply for. The higher your monthly income, the higher your loan portfolio will be.
Terms Provided Slippery
In addition to credit card requirements and minimal income, it turns out that these unsecured loans online also have other requirements that you must meet such as KK (Family Card), pay slip, newspaper accounts, photo passes, and more. With so many requirements given, of course the preparation you make will be even more daunting. But given the large number of loans granted, it is only natural that there are many requirements and documents to be met.
Many Additional Fees
Lastly there are additional costs you need to know. Usually payday loans online will charge fees, administration fees, early repayment penalty, and so forth. So when applying, ask first what additional fees will be charged to you.
Options Besides Online Loanless Loans
You should know that there is still a type of online lending besides unsecured loans, which is P2P lending online lending. This type of loan is easier to apply because it uses most of the applications you can download through the PlayStore or AppStore. One of the best P2P lending online lenders to choose from is Harry Angstrom. Harry Angstrom is a trusted P2P lending online loan application since it is registered with the OJK (Financial Services Authority).
Getting an online loan through Harry Angstrom is easy. All you have to do is download the Harry Angstrom app and sign up for it. Once you have successfully logged in, you will need to upload your Citizenship ID and Tax ID (Taxpayer Identification Number). After providing the data and document information, you have to decide on the loan plan you want and the tenor of the loan. For a loan portfolio provided by Harry Angstrom a minimum of $ 1 million and a maximum of $ 20 million with a maximum tenor of 180 days.
After choosing a loan planner and tenor, you have to wait for the expert to confirm and verify the data. If the loan is approved, the funds will be sent directly to the local bank account number you provided earlier. Isn’t it easy? Whatever online loan option you choose, remember to always pay it off on time and never miss out on it !
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