The Most Favorable Interest Loan

Within the scope of favorable interest loan , banks sign some campaigns. Campaigns can be periodic or long-term in line with bank policies. Most banks do not require guarantors or guarantees within the scope of banks’ most favorable low-interest loan facilities.

Characteristics of Loans with the Most Favorable Interest

Characteristics of Loans with the Most Favorable Interest

The loans with the lowest interest reflect the working policy of the banks. In this context, some banks’ loan interest rates vary depending on the maturity amount, and some vary according to the loan amount received. When banks start making announcements about low interest loans, they do this by calculating the lowest loan amount with the longest term.

For example, if the bank calculates a loan amounting to USD 1,000 for 60 months, it calculates monthly interest rate of 1.60 and makes the announcement of the loan through this calculation. However, loans have an increasing interest rate as the maturity amount decreases. You also have the chance to receive a loan amounting to USD 1,000 with a interest rate of 2.04% in 3 months. For this reason, the calculations of low interest loans should be very well made, and a comparison should be made among the banks to decide which loan is desired to be taken.

The loans with the lowest interest are given within the scope of consumer loans from 1.000 USD to 50.000 USD. These loans allow maturities from 1/3 to 60 months. When it is agreed on the interest rates of the loans, if the loan is not paid, the agreed interest amount is canceled and a new structuring process is started. You may need to pay at a much higher rate than the interest rate you agreed under this configuration. Besides, surety and guarantee are rarely required for these loans. In the loan application, your credit rating and previous bank debts are considered.

Documents Required for the Application to the Lowest Interest Consumer Loan

Documents Required for the Application to the Lowest Interest Consumer Loan

The documents required for the consumer loan application can be listed as follows:

  • For private sector employees;
    • Payroll
    • SGK breakdown
    • Certificate of residence
    • Signature circular of the workplace
    • In case of additional income, income certificate
  • For public employees;
    • Payroll
    • Certificate of residence
    • In case of additional income, income certificate
  • For retirees;
    • Retirement monthly breakdown
    • Certificate of residence
    • Additional income document
  • For business owners;
    • Current tax plate
    • Signature Circulars
    • Room registration document
    • Balance sheet and income statement
    • Additional income document

In case these documents exist, application loans can be applied.

Application Ways for the Lowest Interest Loans

Application Ways for the Lowest Interest Loans

The fields of application for the loans with the lowest interest can be listed as follows:

  • Banks branches
  • Credit comparison sites
  • From banks’ online banking and internet branches
  • From bank call centers
  • From the bank customer representatives with a text message
  • From the customer representatives via call
  • Applications are received from bank ATMs.

The interest rates of  banks are like this. In this context, you can find the bank that suits you the most in line with your needs by making comparisons on the lowest interest loan . You can use the loan calculator on our site to calculate loans from more banks.

Flexible Liquid Quick Loan Features

Because of a speck of indigo, broken milk sebelanga. This proverb is suitable for describing the condition of the trend of fast liquid loans from increasingly busy online sites. So many sites or online applications that offer quick liquid loans. But there are also some of them who are naughty and intend to cheat. In fact, a service in the form of an online loan is very useful for those who need it. When access to bank loans is hampered, online loans are the solution.

Without the hassle of getting stuck in traffic to come to the bank, loan funds can be grabbed immediately. No need to get out of transportation money again. Moreover, the offer of liquid fast loans that are the mainstay of the site or online application is more interesting than the credit process at the bank, which is more time consuming. Even more alarming, already hit by traffic, out of costs, waiting a long time, uh, loans declined by the bank.

 

That’s why online loans are a favorite

loans

Evidently, if you enter the keyword “loan” in the Google Play Store or App Store, there will be a large selection of applications that offer liquid loans without any conditions, including guarantees.

That is one of the things that triggers the evil intentions of the people behind online loan providers who want to deceive consumers. For the public, especially laypeople, the knowledge to distinguish which liquid loan providers are deceptive and which must not be owned.

Here are the characteristics of deceptive liquid loans.

 

Not transparent

credit loans

Speaking of money, transparency is a must. Avoid online loan providers that do not provide clear and complete information.

That information includes fees and interest. Late payment fees, for example. Some charge late fees on a daily basis. If the total is a month, the amount could exceed the principal repayments.

If this information was explained from the beginning, surely people would not apply for a loan there. So things like that are hidden, usually covered by the lure of all kinds.

 

Terms are extremely easy

credit cards

It is true, one of the advantages of liquid fast loans offered online is the easy conditions. But that does not mean these conditions are as easy as turning the palm of the hand.

For example, there is no need for verification, which is important to provide personal data. The standard procedure for granting loans includes verification of the loan applicant. This is important to ensure the loan is in accordance with the target and can later be returned.

If there are no such conditions, maybe it’s just a mode to steal personal data. After the data is collected, communication is immediately cut off and they disappear like being engulfed by the earth.

 

Request private data

private loans

Online loan applications or sites request that data to the applicant is reasonable. But not all data can be provided, or that which includes private data.

Usually the data needed is according to the resident card, such as name, place / date of birth, and address. Other data such as tax identification number.

If they promise a quick liquid loan by requesting private data such as email passwords or even account PIN numbers, it’s better to immediately communicate. Such data can only be accessed by oneself, it cannot be shared with others because it is vulnerable to lead to criminality, such as account break-ins.

 

Pay first

money loan

This is the weirdest one. People want to find a loan, but are told to pay first. This fee is usually referred to as a down payment.

The promise later will reduce the number of the first installment. But, when it has been paid, let alone loans quickly disbursed, they will immediately run away.

This mode is more often used offline loan sharks. But it is also possible for online loan providers to do it, especially those who offer via email or SMS.

 

Not registered with OJK

loans

This last characteristic is not 100 percent, indicating that online loan providers are deceptive. But the possibility of online loan applications or sites registered with the Financial Services Authority to cheat tends to be smaller than those that are not.

Because OJK has its own standards to allow operational activities of loan providers. If not registered, they may not meet these standards. Or it could be that registration is still in process.

To find out, you can check the OJK site periodically and ask directly to the site manager or application that provides fast liquid online loan services.

In addition, try googling or search for the name of the site or related application on the Internet. If there is news about a case involving them, it’s better to step back instead of getting into trouble.

No matter how urgent your needs for loans are, caution must still be given priority. Avoid grasping to see the tempting lure of the loan provider to neglect to ensure security.

4 Tips for Choosing a Safe and Reliable Online Loan

In the midst of the many online loan options, getting one that is safe and reliable can be a difficult homework. Fortunately there is the Internet that makes life easier, including hunting for reliable online money loans. With the online concept, this money loan can be accessed and obtained without the need to go to an online money lender’s office. That means their services are posted on the Internet so they can be easily compared.

In addition, there is no need to open one by one online lender sites to compare. There is already a financial services comparison site that provides help with that. You can see which direct online liquid loans are the fastest process. Likewise, online loans without collateral are safe and reliable.

To choose an online money loan, the following tips can be practiced:

 

Check the sign has been registered with OJK

credit loans

Institutions that provide online or regular loans must be registered with the Financial Services Authority (OJK). OJK is the party authorized to regulate and oversee the activities of financial institutions in Indonesia.

The online money lender’s site should have listed information already registered with the OJK. Usually the information is at the bottom of the site. Or if the online loan is on a smart phone application, see the information before downloading.

If registered, the application must include that information. Because, registered status is a guarantee that their online money loans are safe and reliable.

 

Learn the costs

money loans

Don’t be tempted by the promise of a direct online loan. Look and learn first the costs that accompany it. These fees must be clearly notified in advance. Costs that often arise in the loan process include:

– Provision: a kind of service fee because the loan is approved.
– Administration: money to administer loan administration, sometimes combined with provisions.
– Fines: imposed if the installments are late.
– Penalty: charged when repayment is accelerated.

There are online loans that do not charge a provision or administrative fee. This is worth choosing, but look at other costs as well. Fines should be calculated per month, not per day. For example, late payment of seven days, fines should not be calculated for seven days, but for one month. It could be a bad lender by wearing a daily fine, which is ultimately greater than a monthly fine.

The matter of penalty fees must also be clear, whether there is or not. If there is, how is the calculation. Naturally, penalty fees are calculated from the remaining unpaid ceiling. For example, a loan of USD 10 million with a tenor of 10 months and installments of USD 1 million per month. When up to the eighth month or installments have been paid $ 8 million, it turns out there is sustenance.

Then the debt is paid right away. Take for example the 2 percent penalty fee, what should be added is 2 percent x $ (10 million-8 million) = $ 40 thousand. You should avoid online money loans that ask for a penalty in the form of a percentage of the total ceiling, not the remaining ceiling that has not been paid.

 

Any conditions

loan conditions

Terms of direct online liquid loans are generally easier than regular credit from banks. An identity card is certain. Likewise, the main number of taxpayers. Most also do not require a credit card.

If there are odd conditions, such as giving credit card photos back and forth, it’s better not to use his services. Credit card numbers must be kept confidential, especially the three digit numbers on the back of the card. Therefore, that number can be used as a tool for transaction validation.

Another strange condition is that you have to pay first to get a loan. This is clearly fraud. It makes no sense if someone who needs a loan is actually asked to provide money to the borrower.

 

Site is locked

Site is locked

Make sure the online loan provider site has a locked padlock sign on the top left side of the address. Look in the left hand corner of your computer or cellphone screen for locked locks. If there is, it means that security is more guaranteed.

A trusted online money lender must make sure there is a locked padlock on his site. If the padlock is open or there is a scratch mark, it’s better to look for a loan somewhere else.

One other way to choose a safe and reliable online loan is to seek the advice of acquaintances or relatives who have used the services of related institutions. But not everyone has ever looked for a loan online. This method can be used as an additional after taking the four previous methods.