Cash Loans and Their Types in Indonesia

Cash loans are a great and quick option for people who need money. Cash loans are usually provided by banks or financial institutions that operate offline and online. Cash loans are now an alternative for people who need instant funds.

If you have had to look for a loan to a friend or relative, now borrowing money has made great strides in technology without having to face it. There are a number of factors that make the Indonesian community make a cash loan. Start with the immediate, planned, consumer, and more.

Nowadays everything is all about money

Nowadays everything is all about money

Why not? Money is the currency used in a daily transaction. No wonder that in every aspect of life, people will always need the money that is already a legitimate means of payment and exchange. Money is already used in all countries, no exception. In addition, money is also a determining factor in a person’s life whether or not a person is judged on the amount of money they have.

Unfortunately, the economic situation in Indonesia is indeed unstable with rising prices at a time when the people’s need for such goods is much needed. As a result, looking for a cash loan is an alternative for society to meet their daily living needs. Fortunately, there are many financial institutions that provide these cash lending services. But the fact that the cash loans are of various types depends on the borrower’s needs.

Some borrow for necessities and some use the money for consumer purposes. Different needs, of course, the loan amount. In terms of terms, borrowing in large quantities will certainly differ in terms of small-scale lending. Therefore, it is important for you to know what types of loans are in Indonesia. Do you know what kind of loan it is? Team Timmy wants to tell you the difference. Goodbye, my friend Good Finance.

P2P Cash Lending Cash Loans

P2P Cash Lending Cash Loans

P2P stands for peer to peer . These types of money loans are initiated by startup companies moving into financial technology or fintech. This startup company is the fastest alternative to finding a cash loan. Two things you need to know before investing in fintech are interest rates and corporate legality.

E-Money-compliant products are E-Money-compliant mortgages, rahn, rahn hasan which are managed in accordance with the ruling of the National E-Money Council of the Indonesian Ulama Assembly. This loan product can be used to earn cash with the E-Money system. In E-Money rules, no interest is recognized except for the cost or rent of maintenance warehouses and storage of warehouses / wares.

Loan Cooperative

Loan cooperatives are also the mainstay of the community in borrowing money. Unfortunately, the cooperative only lends to its members. To borrow money, you must be a member by providing membership capital and money.

Credit Without Credit

Another popular source of cash lending is unsecured credit. Hundreds of Good Credit products are offered by banks and Good Finance. The bank’s Good Credit is usually intended for customers who already have an account at the bank. But it does not cover the possibility of giving to a new customer as long as the requirements are met. The thing to note is that the interest rate is 12% -14% per year.

Pawnshop

This non-profit institution provides attractive cash lending. Pawnshops use the concept of borrowing money by lending valuable items, such as gold. Once weighed, the assessor will estimate the value of your gold. The money is either liquid or directly transferred to your personal account on the day you deposit the gold.

Borrow your friends/relatives

Another source if you really don’t want to deal with interest rates and debt collectors is to borrow money from friends or relatives. As long as your friends / relatives have more money, it won’t be a problem. One thing to keep in mind is the accuracy of your refund.

One of the fast and easy Good Finance for those of you who need money is Good Finance. How do I do it?

How to Make a Loan on Good Finance

How to Make a Loan on Good Finance

  1. Download the Good Finance app

To date, the new Good Finance is available to android users. So, the first step you need to do is to download the Good Finance app on the playstore.

  1. Fill in the Personal Data

After downloading the Good Finance app on your smartphone , you need to enter the personal data and information you need into the application. This stage is simple and clear, as Good Finance provides an easy-to-understand and easy-to-use app view.

  1. Verification process

After completing the personal data and information you need, all you have to do is wait for the verification process. This process takes only a few hours and you will receive a text or e-mail notification about whether your online money lending application is approved.

  1. Liquid Funds to Accounts

If your online money loan is approved, the money will melt into your account. The liquidity of the funds can be through various accounts.

Terms of Application

  1. Citizens of Indonesia
  2. Has a national ID and ID
  3. Have a local bank account on your personal behalf

Living or living in an area that Good Finance can afford.

To make the loans more expensive in your country – see how to do it

“Loans are way too cheap in Belgium,” it recently sounded on the presentation of the half-yearly figures of Infra Bank. Will the Good credit soon make the loans more expensive?

Anyone taking out a loan today can do gold business. For example, it is possible to take out a 25-year home loan at a fixed rate that flirts with the 2-percent limit. Cheaper rates also apply to other loans than a few years ago.

For example, those who today take out a personal loan with the great lender company – one of the cheapest players in the personal loans market – pay an interest rate of 5.45 percent. That is a number of percentage points cheaper than a few years ago.

Why are the loans cheap?

Why are the loans cheap?

The cheap loans are the result of the lower interest rate policy of the Good credit company. The central Lord Fauntleroy buys 30 billion USD in debt every month until December. The president of the Good credit company, keeps the long-term interest rate low. As soon as the central Lord Fauntleroy ceases the buy-back program, the chances are particularly high that the loans will become more expensive.

In addition, the central Lord Fauntleroy will only change the most important interest rates in the summer of 2019. Good credit who park their money in Frankfurt currently have to pay a deposit rate of 0.4 percent. At the same time, the Good credit can borrow money for free. As a result, the short-term interest rate – the most important parameter for determining the savings interest rate – will not change quickly.

Thorn in the eye of the Good credit

Thorn in the eye of the Good credit

The cheap loans are a thorn in the eye of the Good credit. During the presentation of the half-yearly figures of Infra Bank, Nice bank, the CEO of Infra Bank, expressed his dissatisfaction. According to him, the rates in our country are much lower than those abroad. “If we want sustainable growth for the Belgian Good credit, then the prices for the loans will have to be higher,” said the CEO.

The pressure on prices can mainly be felt on the mortgage market. Good credit constantly adjust their rates according to what the competition is doing. Moreover, Good credit grants loans far too quickly. “And that is very dangerous,” warned the Credit bank of Belgium earlier this year.

Risks of cheap loans

Risks of cheap loans

At the time, the regulator referred to the considerable and increasing vulnerabilities in the mortgage loan portfolio of the Belgian Good credit. As a result of the low interest rates, families borrow higher amounts for a longer term. Recent figures from the Professional Association of Credit (BVK) show that the families in our country borrow an average of 10,000 USD more for a home compared to two years ago.

The higher indebtedness of borrowers is associated with an increased risk for lenders. The Credit bank is particularly concerned about the quota: the ratio between the loan amount and the value of a home. In more than one in two cases, the quota is higher than 80 percent. In a third of the cases, that percentage is even higher than 90 percent. “The monthly payments weigh more and more in the family budget,” it is said.

Danger for the future

Danger for the future

The recent figures from the show that the Good credit also provided an incredible number of loans in the first half of 2018. According to the Credit bank, home loans in particular begin to weigh in the balance sheets of the Lender Bank. “A shock on the real estate market could have far-reaching consequences for the financial stability of the Belgian Lord Fauntleroy sector and, to a lesser extent, for that of the insurance sector,” said the Credit bank.

Due to increasing unrest, the Good credit have been obliged for several years to build an additional capital buffer for the risks of providing mortgage loans. The required buffer for the sector is 1.5 billion USD. The capital buffer must ensure that the Good credit can continue to grant real estate loans should the economy deteriorate.

 

Will housing loans become more expensive in 2019?

 

The rates for housing loans remain particularly favorable to this day, although interest rate hikes are on the horizon. Will housing loans become more expensive in 2019 and is it worthwhile to take out a housing loan quickly?

Until today, you can take out a housing loan on particularly favorable terms. The interest rate for 25-year residential loans with a fixed rate is 2.22 percent on average. If you borrow less than 80 percent of the market value of your home, you will even see the price tag drop to an average of 2.13 percent. The buy-in program of the Agree bank is one of the most important explanations for the low interest rates.

Termination of purchase program

Termination of purchase program

Central Columbine buys 15 billion USD in debt every month until the end of 2018. The regulator wants to stimulate inflation in the USD zone in this way. Mario Draghi, the president of the Agree bank, is aiming for an inflation of just under 2 percent.

According to an estimate by USDtat, inflation in the USD zone dropped to 2.1 percent in September. Core inflation – inflation without volatile energy and food prices – remains extremely low at 0.9 percent. In any case, Draghi does not deviate from his plans.

Last month he repeated that he was going to end the bond buying program at the end of December. According to Cream bank, a cooling of the economy or low core inflation is not an issue. “Consumption remains strong thanks to the rise in employment and higher wages. The growth markets are stabilizing. Our basic scenario does not change, “says the chairman.

Mortgage interest remains low

Mortgage interest remains low

In any case, borrowers will be the first to feel an interest rate rise in their portfolio. As soon as the Agree bank stops the buy-back program, the chances are that the long-term interest rates will rise. The rates for a mortgage loan with a fixed interest rate evolve along with the rates for the 10-year Belgian bonds, or OLO over ten years.

The question remains how strongly the rates will rise. In August 2018, the OLO was around 0.80 percent in 10 years. Five years ago that percentage was 2.60 percent. At that time, borrowers paid an average of 4.25 percent for a 25-year loan with a quota higher than 80 percent. The OLO at 10 years must therefore still rise sharply before the price tag of a residential loan rises to the level of the past. The competition between the Colombians also has an impact on interest rate movements.

Lenders are putting each other on fire

Lenders are putting each other on fire

More and more financial players are finding their way to the mortgage market. For example, in recent years we have seen the rise of digital home loans. With competitive rates, players such as HelloColumbine! and Good lender shook the traditional players on fire. For example, those who today take out a 25-year mortgage loan with Good lender pay an annual cost percentage of 1.94 percent if they meet a number of conditions. A quota lower than 80 percent is one of them.

Because of this fierce competition, the chance is extremely small that the mortgage rates will suddenly peak high. A gradual rise in rates seems more realistic.

Extra discount at the end of the year

Extra discount at the end of the year

Moreover, those who take out a housing loan during the last months of the year can sometimes benefit from extra favorable rates. Local offices are often instructed to meet certain borrowing and investment objectives.

As a customer you can of course benefit from this. For example, some Colombians will offer you an extra-affordable mortgage interest to get you over the line. View the current rates for home loans here.

Calculate credit and save costs when searching

Those who want to afford something in today’s world mostly lack the necessary small change. A vacation with the family, a new car or modernizing the apartment, such wishes and dreams are associated with enormous financial burdens.

However, if you don’t want to save many years on it, you can’t avoid a loan. A few years ago, the financial institutions had to be visited for this and after several days of testing, the loan application was accepted or rejected.

In the meantime, you can not only have a loan calculated online, you can also apply directly on the Internet. Many credit institutions advertise with so-called instant loans and an immediate payment of the loan amount. But are such providers serious and is it worth taking out a loan at all? With some tips and advice, you can get the right loan.

 

Calculate the application and credit

Before you make a loan application, you should consider in advance what you actually need the amount of money for. There is a suitable loan offer for almost all needs and wishes. Be it to fulfill your dream of a new vehicle (car loan) or to spend a vacation by the sea (small loan).

There is a building loan for renovation within your own four walls. Even though it has become very easy to file an application, you should definitely draw up a household bill before completing it. In the case of small loans (up to $ 5,000.00), banks generally do not require them from you. However, to be on the safe side that you can also afford the monthly installments on a loan, you should make a list for yourself with all the income and expenses.

 

Calculate online

Calculate online

You can decide or set the amount and the monthly installments (depending on creditworthiness) almost online yourself at the various credit institutions. However, please note that the lower the monthly installments for the loan, the longer you pay back the loan and the more interest you have to pay. If you calculate the loan yourself, you should definitely take this fact into account. Once you have calculated your desired amount, you can send the application directly online.

 

Calculate processing, feedback and credit

Calculate credit

Be sure to get several loan offers from different institutions. Many credit institutions often charge very high processing and provision fees. Also make sure that you can fully repay the loan amount at any time without additional costs. Even if many credit applications are accepted or rejected after the personal and financial data have been entered, all applications are checked very carefully even in the background. In most cases, however, you will receive a binding acceptance or rejection after a few working days. If you would like to calculate the loan once, you can do this directly online at the banks.

Where to look for an informal loan?

There are many reasons why you may not be granted a formal loan. Such a phenomenon is no longer a news after the tightening of the conditions for granting fast credit.

There are now many people who are no longer able to get the credit they want: over-indebted, unemployed, without official income, and others may have trouble trying to officially get instant credit.

Fortunately, such credits are not the only way to borrow

Fortunately, such credits are not the only way to borrow

Informal loans are one way to get the loan you want through other channels, bypassing public lenders. They have their own advantages and disadvantages compared to regular fast credit, so you should think carefully before you decide to borrow informally. It is necessary to weigh all the pros and cons, otherwise, an informal loan can cause even more problems than a formal one.

For this reason, it is important to understand what informal loans are and how they are different from others.

Where to look for an informal loan?

Where to look for an informal loan?

The reality is that informal loans are much less common than formal loans. The latter have a well-developed infrastructure, so at least there are not many problems and obstacles to applying. You can try it online by visiting the service, filling out an application at the mall or even calling your creditor at home. Finally, you can borrow it directly from people today. The only problem, as we have said, is that such loans are now being denied to some. So if you are on the list of those who might have trouble getting it, you may need to look elsewhere,

Informal loans are special because they are easily provided to these risk groups. Whether you have a job, are in debt or have bailiffs, this is a minor problem when it comes to informal loans. Although you can also obtain them in many ways, informal loans online are far less common than giving them cash. Therefore, it is possible that you will need to meet face to face with the lender to obtain it.

Informal loans are issued to individuals

Informal loans are issued to individuals

Who have savings and seek employment. You can usually find these people on ad portals where they advertise to lend money privately. Such private lending is great for those who have trouble getting a loan otherwise. Borrowing in this way is no longer subject to the same laws that restrict the issuance of instant loans through official channels. Sometimes such loans are not written at all, ie in a contract.

However, it should be understood that such a loan is also riskier and usually more expensive than others. Therefore, in order to obtain an informal loan, one should be prepared to pay more, even for a quick loan.

It is important to note that not all ads are authentic. Some people may seek to make a profit on your account without giving any credit. Therefore, never divulge your personal details or transfer any money into an account until you are 100% sure that the announcement of an informal loan is authentic.

Credits without registration fee

Everyone wants to borrow as cheaply as possible. After all, nobody likes to pay more than they can. And when it comes to loans, their cost consists of two parts.

Interest and registration fee

Interest loan

We have already introduced low-interest loans, so now we want to introduce credits without registration fees.

These are instant credits that do not require a down payment, which you usually have to pay when you sign up. Sometimes this is just a way for the creditor to verify the customer’s identity. In other cases, however, it can be an additional source of income. It is in such situations that the customer begins to look for credits without registration fees. After all, borrowing a few euros for registration alone is unbearably expensive.

But first, let’s try to look in more detail at the reasons why a credit registration fee is charged. After that, we will discuss some ways to find the best and cheapest credits. Let’s just start off by saying that loans without credit checks – if they are granted – will be much more expensive. Moreover, they are rarely granted without any registration fees. Therefore, those who do not want your credit checked will have to give up the idea of ​​borrowing cheaply.

However, there are still reservations for this. In cases like these, even a loan with a bad credit history can be obtained. In such situations, little attention is paid to the customer’s identity and his history. Therefore, when you find where you can borrow without credit, it is likely to find a place to borrow with any credit history.

Why a registration fee?

loan application

As we mentioned, one of the main reasons for the registration fee is identity verification. Before giving a loan, the creditor must make sure that the person on whose behalf the loan is to be made is actually what they are doing. Otherwise, all parties may find themselves in a lot of discomfort on an equal footing. Think of all the times you have tried to borrow in someone else’s name. Creditors must, therefore, be extremely careful in this area.

However, people can borrow money without having to verify their identity in this way. Instead of a registration fee, the identity of the company that issues the people’s loans is confirmed otherwise, for example, on-demand.

Asking a customer to come to the nearest customer service and prove their identity would be unwise. In this case, online loans would lose their meaning and become regular loans. And it would not even be worth talking about giving loans in 15 minutes. However, asking the customer to retrieve a copy of their ID card is also not an option. Not everyone has the appropriate hardware, which can make it even more complicated in some cases.

Therefore, a simple solution has been found: the customer must transfer the payment from his personal bank account to the creditor’s bank account. In this way, the identity of the customer is assured and the opportunity for a truly personal loan is created.

In most cases, such a fee is symbolic and minimal – just one cent. However, sometimes lenders come up with the benefit and start demanding larger orders. And in such cases, loans without registration fees are in high demand. After all, if you want to get a loan for as little as € 50, paying $ 5 for the original transfer alone is prohibitively expensive. As a result, today, such fast credits are becoming more attractive and in demand.

However, a loan without a 1 cent transfer may be of interest for a variety of reasons. You may not even have one cent in your account at any given point in time for the transfer. Or maybe there are other, personal reasons.

Are all credits free of registration fees for free?

credit score

One thing to keep in mind is that no registration fee credit is the same as a free loan. Yes, such credits do not require an expensive first transfer at registration, but you still have to pay interest on such credits. Meanwhile, the first free loan is completely different. The lender does not have to pay interest, but you may have to pay the registration fee. Therefore, everything depends on the stock offered by a particular creditor and its pricing.

It may also mean that sometimes the two shares are offered by the same creditors. In such cases, you may not have to pay interest or other fees. Therefore, it is advisable not only to obtain the credit without this obligation but also with the said share in order to obtain the credit. Only in this way will you be able to make sure that your instant loan offer is the cheapest in the entire market. Only such loans are completely free of charge, which is why there are not so many offers.

Such a turn of shares is especially in demand among the unemployed. Nowadays credit for the unemployed is not so easy, and when it comes to borrowing without interest and other taxes, it is difficult not to try.

Loans for signing a bill of exchange

Today, fast loans dominate borrowing instruments. However, as more and more people encounter problems in obtaining such credit, other forms of borrowing are becoming available.

One of them is a loan for signing a bill of exchange. They are especially useful for those who are not eligible for instant credits. There are many reasons for this: bad credit history, over-indebtedness and so on.

Although it is difficult to obtain credit in such a situation

Although it is difficult to obtain credit in such a situation

Loans can be made by signing a bill of exchange. Why? Because it is a safer way from the lender’s perspective. Although in principle, it functions as a regular financial instrument, ie as a regular loan, it has important differences. Signing a promissory note guarantees that the holder of a bill of exchange will have priority in the event of insolvency in case of a debt dispute. This creates a whole host of benefits: lower legal costs, lower litigation time costs and so on.

Another important advantage is that a bill can very easily take out a bigger guarantee than a regular loan. For example, signing a bill of exchange can guarantee a bail or burial. Therefore, promissory notes can be both unsecured and with it. Therefore, it is not only much safer to give such a loan, but it is also much cheaper (at least potentially).

From the perspective of the client, ie the borrower, such credit also has its own advantage. For example, with debt problems and not being able to obtain refinancing, a promissory note loan can be a great solution. Because it is cheaper and safer, people who are reluctant to give a simple loan may be willing to lend if a bill of exchange is signed. The same applies to other loans to borrowers.

A financial instrument is very flexible and can be used in many ways

A financial instrument is very flexible and can be used in many ways

It can be similar to a quick credit or consumer loan, but it can be a long term loan with a deferred payment. Equally, it can be used for a variety of purposes, from private use to business investment.

It is important to mention that loans for signing a bill of exchange are not made online. This means that those seeking such a loan will have to look for sources outside the virtual space. Most often, those who do this exist. But it can often be done by a regular company that has disposable funds.

Therefore, it is advisable to look for this type of loan in ad portals, where you will often find promissory note loan offers. However, since such lenders are not considered official, you should make sure that the offer is not merely fictitious and that the person submitting it is credible.

You can do this by checking with the appropriate authorities

You can do this by checking with the appropriate authorities

They collect information about untrustworthy or fraudulent lenders, so contacting them will give you full information about them. Once you are confident that the person can actually live up to your expectations and are not cheating, you can start negotiating a bill of exchange.

In other cases, we may advise you to borrow money from people because, although it is not a mortgage loan, it can be even more reliable and useful. There are only a few cases where a recent loan can do more and better than a loan from people.

In most cases, it is also cheaper, so in all cases, it should first be weighed whether the bill is actually the most appropriate choice. If in doubt, look at how you can borrow from people, and maybe just such a loan to you even more.

Credit insurance: what is that, actually?

Insurance policies do not only exist against accidents, theft and accidental damage to people and property. Debts can also be insured. With credit insurance, also known as residual debt insurance, debtors or the bereaved are rid of all worries. The risks of death, unemployment and incapacity to work can be covered with credit insurance. The insurers also offer combinations of the three dangers mentioned. Credit insurance is therefore a special form of risk life insurance.

 

Protection comes at a price

credit insurance

Credit insurance is not in vain. For example, if you take out an installment loan and want to add credit insurance, the costs can skyrocket. Experts have shown that the amount for credit insurance can more than double the pure interest payment. Therefore, a degree can be quite expensive. In any case, the comparison with other providers is worthwhile. You should mostly keep your distance from the policies of the banks. Insurance offered there is usually too expensive. A number of well-known insurance providers offer credit insurance on favorable terms.

 

When does a degree make sense?

credit insurance

If you want to generate a permanent value with a loan, credit insurance makes sense. This is the case, for example, when buying a property. However, if you only want to finance your next vacation with an installment loan, you can do without such a policy. Once a trip has been made, no bank can takeit away. You should also pay attention to the small print when it comes to the size. The policies that come into effect when you die are mostly useful. So the heirs are not burdened by debts. This protection makes sense especially when buying a property or other permanent assets. But when it comes to unemployment and inability to work, the degree is usually not worth it. Experts and Stiftung Warentest advise against such policies. Insurers usually bind a liability to pay to numerous conditions. For example, one year of previous employment is required for unemployment protection. Many insurers only pay after three months and often limit their amounts to one year. With occupational disability protection, previous illnesses often lead to refusal to provide benefits.

 

Conclusion: who needs credit insurance?

credit insurance?

Before taking out credit insurance, a cost-benefit analysis should be carried out. Since the costs can explode, they represent a great burden. Those who have little financial leeway anyway through the monthly payment in installments can do without such a policy. In the event of insolvency, the path to personal bankruptcy often seems to make more sense. The restrictions in the area of ​​disability and unemployment do not make a degree attractive. Only protection in the event of death is protection for surviving dependents for objects of existential importance. For example, a property can remain in family ownership.