What Costs Are There in the Process of Submitting loans without collateral?
Provision Fee:
At the beginning of applying for individual credit, both loans without collateral or KMG, you will be charged a provision fee. Provisions are fees for remuneration to the bank due to approval of the loan. Some say this provision fee is almost the same as administrative costs.
A provision fee is charged once at the beginning of the credit-taking process by deducting directly from the loan funds disbursed by the bank. Some banks do not impose provision fees on credit applicants but charge quite high administrative fees for processing the credit. The amount of the provider fee for loans without collateral depends on each bank. Usually, about 1 - 3.5% of the total credit obtained.
Upfront Cost:
What is meant by this upfront fee is the fee that must be paid outside the installments. The amount depends on the bank. For unsecured loans, the prepaid fee is between 1.5 - 5% of the total loan.
Interest Fee:
The bank as usual will set interest on the credit you requested. The amount of interest varies, depending on the bank that issued the credit. The interest charged on unsecured loans is quite high, between 10 - 23% per year. The high-interest rate on unsecured loans is because unsecured loans do not ask for collateral or anything from the credit recipient, so the risk of bank loss is greater. The interest that applies to loans without collateral is flat. For example, if you borrow loans without collateral with an interest rate of 23% per year, then until your installments are small, the same interest will still apply.
Penalty Fee:
Penalty fees are fees imposed by banks if the repayment of loans without collateral or KMG is accelerated according to the provisions of each bank. For unsecured loans, this penalty fee reaches 5 - 6% of the rest of your unsecured loan bills.
Stamp duty:
Some banks ask credit takers to pay stamp duty and that applies to loans without collateral and KMG as well. However, some banks are generous and pay stamp duty, especially for KMG type loans.
Insurance fee:
unsecured loans or KMG apply life insurance which will protect the recipient of the credit. It's nothing in terms of a long enough tenor, plus a large loan amount that makes banks unwilling to take risks if those who receive credit die. The insurance chosen is also based on the appointment of the bank, not your choice of being insured.
What is the complete procedure for submitting loans without collateral to be approved?
Meet the Personal Identity Requirements:
In general, banks apply almost the same requirements for prospective customers, namely a minimum age of 21 years and a maximum of 65 years. This maximum age means that the deadline for the loan term does not fall later than when the customer is 65 years old.
Authenticity and Completeness of Documents: Some documents that must be prepared include NPWP, Family Card, Marriage Certificate (if married), Income Certificate for employees, Practice License for professionals, or SIUP / TDP for employers and photocopies of current or savings accounts during The last 3 months.
- Credit Card Notes: The bank will check the credit card usage records of potential customers. Make sure your credit record is in good order.
- Profession Status:
- Employees: permanent employees have worked at least a year with a minimum income of IDR 5 million as a basic salary
- Entrepreneur: ownership of the business has been going on for at least two years
- Professional: the practice place has a legal certificate
- Total Debt Ratio: The debt ratio or debt ratio that you have when submitting must not exceed 30% of your total income.
- Phone Number Validity: The telephone number you provide to the bank must be active and can be contacted. When submitting, you will be asked for your personal phone number, office phone number, and non-home family phone number.
Verification Process Make sure pr
Is There a Credit Installment Table?
Currently, you can check the credit table and simulation through each page of the bank or non-bank institution that you want to submit. To do this, please select the bank that provides your loan, then enter the nominal down payment in the down payment column, point the arrows for the amount of credit and tenure according to the price of the vehicle and tenor you want. Then the simulation calculator will display the calculations from the data you input previously and the tables are already available on that page. The nominal shown is for illustration only, it may be different from the nominal set by the bank or the related non-bank institution.
Terms in Unsecured Credit
- Annual Percentage Rate (APR): The interest rate on the loan per year.
- Insurance Fee: The amount of money paid for life or building insurance.
- Late Payment Fee: A fee charged by the bank if the applicant is late in paying his credit installments.
- Other Expenses: The amount of money paid for other purposes such as administrative costs.
- Stamp Duty: Fee for postage stamps used to validate credit agreement documents.
- Early Payment Fee: A fee charged by the bank if the applicant repays the loan before maturity
- Provision Fee: A fee charged by the bank to a loan application when the loan is approved.
- Installments per month: The amount that must be paid to the bank each month.
- Amount of Credit: The amount to be borrowed.
Unsecured loan (KTA): A bank product, where customers can borrow several funds/money from the bank without having to provide collateral or collateral such as house certificates, BPKB, SK, etc.
- Credit Limit: The limit of money that can be borrowed or used in a loan credit agreement.
- Non-Payroll: The customer's salary is not paid through the bank.
- Payroll: The customer's salary is paid through the bank.
- Loan Disbursement: the act required so that the proposed funds can be accepted by the applicant.
- Ceiling: The maximum amount of credit provided.
- Credit Simulation: Procedure for estimating how much credit installments must be paid off each month or annually within a certain period.
- Interest Rate: The cost of a percentage of the principal.
- Credit Simulation Table: Table showing credit simulations.
- Tenor: Duration.
- Total Payment: The nominal amount to be paid from the beginning to the end of the credit.
