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.

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