Credit Unsecured is one of the financial products provided by a banking service that can provide a guarantee to a creditor without the need for an asset to serve as collateral. Currently, many banks in Indonesia are offering Offerable Credit Offers. Before you take product, first consider the facts of you need to know.
Facts on Loans You Need to Know
1. Does Not Require Warranty
Like the name of this financial product is Credit Lack, where the credit offered does not require an asset as collateral. Where this is an advantage for prospective borrowers. On the other hand, for lenders or commonly referred to lenders, these are high risk products.
2. High Interest Rate Loans
The convenience provided by Credit Unsecured, makes the loan interest rate offer very high compared to standard loans. The interest rate on this Creditless Loan is usually between 20% and 40%.
3. Loan Value Reaches Hundreds of Million dollars
One of the other advantages of Lending Credit products is the value of loans reaching hundreds of millions of dollars. This is an additional point for Credit Unsecured creditors, as potential lenders are not obligated to provide guarantees but can obtain up to hundreds of millions of loans. For the nominal range of loans provided by each institution is approximately equal to USD 5 million to USD 300 million.
4. Simple Multiple Submission Requirements
Credit Unsecured Credit Lending system is very convenient for prospective lenders. But that doesn’t mean has no other requirements. To be able to apply for loan, there are other requirements that must be met, among others.
- Have citizenship
- Minimum 21 years old, maximum 65 years
- A copy of a pay slip, usually a minimum standard of earning a debtor’s income of around 3 million dollars per month.
- Photocopy of Identity Card, Passport, NPWP
In addition to the above terms, your financial institution will also determine your financial history. Information about your financial history can be obtained by the bank through a system.
5. Credit Card Users Will Obtain Credit Facility
The average service provider financial institution provides that a potential customer must have a credit card within a certain time frame. Although not all agencies provide these requirements, most agencies require prospective lenders to attach a credit card front-facing photo as one of the required documents.
The information on your credit card can make it easier for your bank to check your financial history, whether you are a diligent and timely customer of your installment, or whether you are a frequent customer. In addition, the presence of a credit card can help in the event of an emergency.
6. Loan Funds Can Allocate Customers Free
In allocating loan funds, the bank gives the creditor freedom. Whether these funds are used to pay for installments, investments, building renovations, children’s school fees and more. This is another benefit for prospective creditors, because when borrowing funds through working capital loans at banks, the lending procedure to be met will be different.
7. A Relatively Fast Fundraising Process
Lending systems through products will usually be transferred directly to the customer’s account. The funds to be disbursed have been deducted from the expenses incurred. The process of disbursing the funds is so rapid, it can take up to 14 business days for an average bank to bank, and some may even disburse the funds within a week if the customer is considered eligible.
8. Fixed Flowers are Permanent
All banks set a fixed interest rate for . The value of the interest is assessed from the principal nominal debt at the beginning of the deal, making the interest rate more expensive.
9. The Shorter the Loan Tenor, The More Profitable
The term loan tenure usually lasts from 12 months to 60 months. In the case of fixed interest rates, it is safer to pay off the installments as soon as possible.
Take a look at the various amenities that offers before you apply
Credit Without Credit has a lot of benefits, but not a few things to keep in mind about. By reading the above facts, we hope to improve your information on Credit Lending. Please meet the criteria before applying for a loan.