Recognize First Various Loan Products
Economic conditions now often urge people to rely on credit or loans. Just imagine, the salary of IDR 4 million per month wants to buy a house of Rp1 billion, how long should I save?
Rp1,000,000,000: Rp.4,000,000 per month = 250 months
In other words, you have to save 250 months or 20 years, even without food and other expenses.
That is why many loan products are offered by creditors to facilitate their customers. But you know there are many types of loan products that, for example, Loan, Credit Multipurpose, to loan money online. Which should you choose?
Unsecured Credit Products
Unsecured loans or often referred to as unsecured loans are loan products from banks that do not require debtors to guarantee an asset. Unsecured credit is usually used for customers who are in need of fast funds.
Different from some other types of credit, you can use a Unsecured credit loan for any need. Unsecured credit is generally used for consumer needs that require fast funds, including:
- House renovation
- Business capital, etc
Some of the advantages of products when compared to other credit products are:
- The submission process is fast and easy, and does not require a guarantee
- The document is a small submission requirement
- The amount of payment can be repaid in accordance with the agreement with the bank
- The payment process is quite easy
- Can be used for any purpose
- Easily found in certain banks or financial institutions
- Fixed interest rates during the credit contract period
Besides its many interesting advantages, also has several disadvantages, including:
- Limit limited loan
- The tenor of a short loan depends on the amount of the loan
- You must have a professional status with income every month
- Generally, you will be asked to open an account at a related bank
- Interest rates are quite high because there is no guarantee
- There is a penalty fee if you pay off the loan before maturity
Now, collateral-free products are becoming increasingly popular and the bank is developing them for the convenience of customers. Now you can apply for Unsecured credit in several banks online so you don’t have to bother going back and forth to the bank. One example of Unsecured credit Online is the product of Tunaiku from Bank Emad Indonesia.
Bank Emad offers unsecured credit services without credit card ownership requirements. In accordance with the slogan, namely:
Need a cash loan? Without collateral. Without a credit card
The general requirement set by Bank is only and you can withdraw funds if you pass verification and appraisal. Also provides the convenience of applying for Unsecured credit via online so you can apply for while relaxing in the living room without having to be tired of driving to the bank in the midst of traffic jams and unfavorable weather.
How? Simple isn’t it? In addition to the ease of the submission process, Bank also makes it easier for its customers so that installment payments can be made without the need to visit the bank directly. The alternative payment for installments are as follows:
Online Loan Products
Because of the high demand ( demand ), now credit or loan products are increasingly varied. Not only loans from banks in the form of credit facilities such as Unsecured Loans or Multi-Purpose Loans, but there are also loans in the form of money loans via the internet or online. One is the website end. Website l ending an online cash loan service provider for all urgent needs such as paying the cost of education or health needs such as doctor’s fees and medicines.
The loan scheme is almost similar to a loan from a bank, where the borrower directly applies for a loan to the company, but where the difference is, the loan procedure can be done online without the need for direct face to face.
In addition to website lending, there is also a name called Peer to Peer Lending. Peer to Peer Lending is a place to transact, whether you want to borrow a number of funds to develop a business, or if you want to invest by lending a number of funds and acting as an investor.
Peer to Peer Lending is the right system if you want a fast personal loan or for those of you who have excess funds and are still confused where you want to invest it. Some online platforms that provide online loan services include: