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Installment Loans

Installment loan despite Credit Bureau.

Credit Bureau records almost every regular payment obligation: whether it is the TV bought in installments or the cell phone contract – if there is a default, the so-called score value at Credit Bureau drops and thus the rating. The prospects for an installment loan deteriorate dramatically, and a bank generally rejects a loan request. see jeffreylucklucas.com for more notes

Cream banks are not interested in Credit Bureau

Cream banks are not interested in Credit Bureau

However, not all credit institutions are so rigorous in granting an installment loan despite Credit Bureau, because not all lenders even check whether there is a negative entry. Foreign banks are just as little interested in the German Credit Bureau as private lenders. And because more and more people are denied a loan precisely because of Credit Bureau, the supply of such loans is growing in line with demand.

Cream banks in particular have launched a uniform loan that hardly differs between most Cream banks. The loan amount is 3500 USD, the term is set at 42 months. Such loans can only be applied for online, which is not necessarily a disadvantage for the borrower. On the one hand, he can compare different banks quickly and easily, on the other hand, an offer can be obtained particularly quickly.

Fast payment is typical for the installment loan despite Credit Bureau. Often, it only takes a few days from the application to the payment if you don’t take too much time to send the necessary documents to the banks. Because even if a Cream bank does not rely on Credit Bureau, proof of a attachable income is mandatory. This is the only way to successfully approve the loan, especially since the banks are of course aware that a German borrower has not been particularly reliable with previous payment obligations.

Because despite the seriousness of the Cream banks, it should not be forgotten that the cost of credit is comparatively high. The effective interest rate will hardly be below 10 or 11%. If you earn more, you could also get cheaper interest, but a loan over such a small amount would then hardly be interesting. In order for the rather high interest rates to remain reasonably within limits, the loan offers must be compared beforehand.

Private lenders assess the overall situation

Private lenders assess the overall situation

Private loans are not less favorable, but significantly more flexible. Both for particularly small sums starting at 500 USD and for a larger installment loan despite Credit Bureau in the range of around 10,000 USD, they can be the better alternative to Swiss loans. A registration is made with a subsequent proof of income to a credit broker. He tries to find a private lender for the installment loan anonymously despite Credit Bureau via a credit exchange.

Because a private creditor is more likely to make such a decision out of the gut than a bank advisor, the debtor should explain his situation and the reasons for the loan in as much detail and comprehensibility as possible. The debtor can determine an interest rate and the amount of the installments. Of course, despite Credit Bureau, the chances of an installment loan increase particularly if the creditor is also offered attractive terms.

Because the lender only pursues the goal of getting as much out of his capital as possible. Around 10% are realistic here too, but if you add a low income to the negative Credit Bureau, this can quickly turn into 15%. Although this is not cheap, the prospects for such a loan are very good.

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Installment Loans

Installment loans – how to get this loan?

If you are included in a defaulters file like the debtors list list, what we are going to tell you in this article interests you. Most people who do not have a clean credit history believe that accessing financing will be impossible for them. Even more so if what they need is more or less high amounts of money. If you are in this situation, pay attention to what we are going to tell you about installment loans. 

What are installment loans?

What are installment loans ?

Installment loans are characterized by the fact that repayment can be made in several installments. This type of loan is associated with high amounts of money, which the user could not repay in a single payment, as would be the case with microcredits. Payment in different monthly installments makes the return of the requested money much more comfortable and flexible for the user. 

Many people believe that because they are included in delinquent files, applying for loans in installments is not possible, since the financial institution will not trust its repayment capacity, much less if it is a high amount. 

Requirements to apply for loans in installments

Requirements to apply for loans in installments

If you are included in any of the delinquent files of our country, it is more complicated for traditional banking entities to grant you loans. One of the main requirements to be able to access financing through traditional banking is to have a clean credit history and, above all, not to be recorded in debtors list. In this article we tell you how to know if you are in debtors list. 

Another thing that they will take into account is our solvency. They usually demand that they be able to demonstrate a fixed and high income, either through an employment contract or a payroll. If the monthly fee to be paid is above 35% of our income, the bank will calculate that there is a risk of default and will not give us the loan. In this article you can see in more detail how to apply for a loan and the requirements that must be met. 

Are installment loans more expensive?

Are installment loans more expensive?

Many banks increase the interest on debtors list installment loans. This is so because they consider that the user has a high risk of default and banks apply more restrictive clauses for this type of user profile. In this way they cover that risk by increasing the amount of the monthly installments. 

As we were saying, being in debtors list is not a problem. We consider that the property you present is already a sufficient money-back guarantee. We will not take advantage of your previous credit history to charge you more commissions or interests and less to complicate your access to money. 

Bank offers quick loan for trainees.

Anyone entering the professional world as an apprentice needs financial support if the parents do not have the appropriate resources. You want to have your own car or plan to move to your first apartment. However, these wishes are not cheap. That is why many apprentices first go to a bank. But what is the reality of a quick loan for trainees?

Welcome customers

Welcome customers

Trainees are welcome customers at banks. As a rule, they do not yet have their own current accounts and with lock offers, the banks try to win trainees as new customers and retain them in the long term. In addition to a current account with favorable conditions, young people are also offered opportunities to save. But at the latest when the trainee wants a loan, the friendship of the banks ceases.

What are the requirements for a loan for trainees?

What are the requirements for a loan for trainees?

A quick loan for trainees is not so easy to implement. The problem is that the trainee has an income, but it is usually so small that there is not enough money left to pay the installments. If the young person still lives with their parents, at least the rental and ancillary rental costs are eliminated. Nevertheless, it is not easy for the trainee to get a quick loan for trainees.

For banks, security beyond training is a problem. The trainee is not always taken over by the training company after completing the apprenticeship. In the worst case, even unemployment threatens. Most banks do not make a loan commitment during training or during a trial period. The financial situation after the expiry of these fixed-term contracts is too uncertain.

If the monthly income is sufficient to repay a loan within the training period, then the young person can hope for a promise. Things become even more positive if a declaration of acceptance has already been submitted by the training company and the employment contract is not limited. However, an oral promise from the HR manager is not enough.

Credit for trainees with co-applicants

Credit for trainees with co-applicants

If the trainee’s creditworthiness is still impeccable, a co-applicant, for example a parent, can be included in the loan agreement. The co-applicant must meet the same requirements as the applicant. There must be a regular income, the credit rating must be good and the employment relationship must not be temporary or during the trial period.

How do you find the cheapest loan?

How do you find the cheapest loan?

This is where comparison calculators help to find a quick loan for trainees. In this way you will not only find the bank with the best conditions, but also a suitable checking account. These loan comparisons are free and do not commit to anything.

Mini loan without BKR assessment? It is possible, apply directly!

Do you have a negative BKR registration and still want to take out a mini loan? Then the question is of course what about the mini loan without BKR testing. Is a mini loan registered with the BKR? Or is it still possible to borrow money without BKR testing? And which mini-loan providers are still there?

Mini loan without BKR assessment

Mini loan without BKR assessment

A mini loan without BKR assessment is certainly possible. In fact, a mini loan with BKR assessment is not possible. This is because providers of the mini loans are not affiliated with the BKR. Because they are not affiliated, they cannot do an assessment at the BKR. Your loan application will not be assessed with the BKR, nor will your mini loan taken out be registered with the BKR. That is nice to know.

Providers of mini-loans without BKR assessment

Providers of mini-loans without BKR assessment

At the moment there are actually only two providers of mini loans. The first provider is Spin Lender. Balance dip has been around for several years and is part of the Lite Lender Company Group. The Lite Lender Company Group is listed on the German stock exchange and its objective is to provide loans as innovative as possible. The Lite Lender Company Group mainly wants to do this by automating as much as possible.

The second provider of these small loans up to 1500 USD is Lite Lender Company. As you might expect, Lite Lender Company is also part of the Lite Lender Company Group. In fact, there is actually only one provider of the mini loan. The acceptance guidelines may differ slightly, but it probably will not be very much.

When will you receive the money in your account

When will you receive the money in your account

If the BKR is no longer an objection, the question remains of course when you can expect the money in your account. It can go very quickly. A mini loan can be the way of borrowing money quickly. There is one important condition here, and that is that you have previously been a customer of the provider of the mini loans. And that you have of course repaid this loan on time. Is this the case? Then borrowing money without BKR testing is even possible within 10 minutes.

Is it the first time that you are going to take out a loan in the form of a mini loan? Then it takes a little longer before you have the money in your account. It may then take longer before the money is in your account. You can take into account a processing time of about 24 to a maximum of 48 hours.

Alternatives to the mini loan without BKR assessment

Alternatives to the mini loan without BKR assessment

If the mini loan is not really an option for you, for example due to the short term, there may still be alternatives. You can think of borrowing money from private individuals. After all, they too cannot do an assessment at the BKR. Another alternative is to pawn your car. A so-called “sale and lease back” construction. Please keep in mind that you will not always get the best price for your car. After selling the car, you are no longer a legal owner of the car, but you are still the economic owner. After all, you are the one who will use the car.

Beware of Haunting Online Loan Funds Haunted

This online loan is tempting, especially when you need fast funds in a practical way. But do not let the tantalizing thing, making you lazy to compare the Loan product. Because there are so many things to compare, the amount of installments, interest, penalties, etc. Do not let your thumb because you are lazy to move, regret will haunt you.

Now you must be more selective in choosing an online loan provider. Because now many moneylenders are literate in the ease of technology. Not the convenience to do good but to trap into the vortex of the loan sharks notes. Do not get caught up with the dirty tricks of loan sharks in trapping you to apply for debt to them.

Be careful just not enough if you do not know the signs of loan sharks online funds. What are you waiting for, first identify online loan sharks with the following characteristics:

Ignoring Requirements

bank

Many people who are already pressured by debt then ignore the requirements to borrow funds online. It sounds like good news from heaven that says that the conditions for online loan funds are only one, namely KTP.

Wait a minute, don’t be happy first. Try to think clearly, the requirements offered by banks can be more than one, such as NPWP, salary slip, permanent assignment letter, credit card, and credit history. Of course, the bank has its own reasons which are certainly very logical, namely for protection or our own sense of security in the event of default on the road.

Well, if anyone offers requirements with just one KTP, get ready for bad credit risk that can increase interest, aka your debt.

Low-Interest Deception

Low-Interest Deception

Have you ever heard the seduction of high-class con artists? Little difference with a loan shark who seduces potential victims with low interest, which is only 1% per day. Sometimes this is very interesting if the mind is not clear because of debt problems that poison your mind. But it’s not as interesting as you think, right, let’s count it.

Mr. Roy borrowed an online fund of USD. 30,000,000 for his wife’s operating costs, interest per day of 1%, which was due in 30 days. What is the interest charged by Mr. Roy and the total loan amount that must be paid when due?

Answer:

Loan value: IDR 3,000,000

Interest per day flat: 1%

Maximum tenor: 30 days (1 month)

Monthly interest: 30% x IDR 3,000,000 = IDR 900,000

Total loan + interest: = IDR 3,000,000 + IDR 900,000 = IDR 3,900,000

KTA loan with DBS Bank

Ibu Rina has a debt of USD. 30,000,000 and plans to borrow a KTA from DBS bank with an interest of 0.99% with a two-year payment term. How much interest is charged by Ms. Rina and the amount of money that must be paid for 2 years?

Answer:

Loan value: IDR 30,000,000

Interest per month flat: 0.99%

Tenor: 24 months (2 years)

Interest for 2 years: 23.76% x IDR 30,000,000 = IDR 7,128,000

Total loan + interest = IDR 37,128,000

How to explain the difference? Indeed, the KTA product from the bank imposes administrative costs, but it is in line with the interest given. Try to compare, online moneylenders who charge 30% per month while the bank is only 23.76% for two years.

Not Open Especially Transparent

money

This loan shark is very friendly at the beginning of meetings with potential victims. He gave a beautiful smile, a package with 1000 sweet seduction promises in the form of “low interest, ma’am …” or “direct liquid loans, sir …” and others for the sake of attracting potential victims into the notebook of the loan sharks.

But after getting a victim, the loan shark turns into a mysterious figure and becomes often terrorizing when you are late to repay his debt installments. He is not open about the count of all funds he has received and is not transparent to the data calculation of the debt book you requested.

Can Disappear at will

It’s terrible to deal with someone who can suddenly disappear like a ghost. His name is also moneylenders whose operations are unclear in the eyes of the laws and laws of the country. He easily disappears and comes suddenly when the victim is affected by the problem in paying installments.

But be calm, that regret will not come if you pay attention that the online loan is registered or not at the Financial Services Authority (OJK). This is very important for you to know because OJK under the auspices of the Ministry of Finance is our field supervisor.

So, if you are hit by bad credit or have a problem during KTA payment, there will be articles or penalties that are all listed in the Constitution which can then be processed into the realm of law.

Food Fence Plant

It’s horrible, using the mode by claiming to be a close friend when you just met a loan shark. But when it comes to problems, the payment is just a little direct in terror whenever and wherever. His intention was to help as a friend, instead, he was trapped in a crocodile pit.

Cash loan with instant approval.

The banks have long since ceased to be rigid and stuck in terms of what they offer and what they do to customers. Rather, nowadays you are ready to adapt very well to the needs of customers and try to meet them as fairly as possible.

A lot has happened in the area of ​​loans in particular. Taking out a loan used to be a lengthy process, but nowadays it can be done much more quickly and quickly. For example, it is possible, under certain conditions, to take out a cash loan with immediate approval.

Online bank or local bank?

Online bank or local bank?

Many consumers think that a cash loan with immediate approval is only possible with a bank that works in branch sales. This is the only way to apply for the loan directly, wait for the immediate approval and then receive the money in cash. In principle, this process is also completely correct and is practiced every day. But there is another way. In this way, a cash loan with immediate approval can also be taken out at an online bank.

Here you have the opportunity to use a loan calculator to see exactly where a cash loan with an instant approval can best be obtained. The different offers of the banks can differ greatly, so that a comparison is always a good option in order to be able to use the best possible offer.

Once you have decided on an offer,

Once you have decided on an offer,

You can make an inquiry about the loan directly to the offering bank. If they advertised with an immediate acceptance, they will review all data and make a credit decision. If the result is positive, all you have to do is sign the contract and the money can be paid out in cash. This usually runs through Postbank.

If this procedure is too confusing for you, you should contact a bank with a branch and apply for a loan there. If all the necessary documents are available when the application is made, the bank employee can process the application immediately and will make a decision accordingly quickly. If this is positive, the amount of money can also be paid out immediately.

Tip: An instant loan is usually only possible up to a certain amount. Many banks are based here on the 5,000 USD mark. Larger loan amounts require a more thorough review of personal circumstances and therefore do not make an immediate decision possible. In addition, collateral must often be available here, which the bank will also examine before the contract is concluded.

Looking for Unsecured Loans?

Lately, the term Unsecured Loans is very often heard. But did you know what Unsecured Loans are? In general, Unsecured Loans, known as unsecured loans, are unsecured personal loans from banks to prospective debtors. 

Currently, almost all banks in Indonesia provide Unsecured Loans facilities to their customers. However, the bank that first provided this facility was Fine Bank, which was eventually followed by other banks in Indonesia. Generally, customers who use this facility are those who need fast funds, for example, to pay off a down payment on a house, venture capital, college entrance fees, wedding costs and so forth.

Even though they are unsecured loans, there are conditions that must be met by prospective applicants. For example, you have to bring a savings account book when registering because the banks can see your ability to repay the loan. So, for those of you who are in shambles managing finances or even barely leaving sufficient funds in your account after payday, it is certain that your Unsecured Loans application is rejected.

Now, before you know how to get Unsecured Loans, it’s better to know the pluses and minuses of this product.

Advantages of Unsecured Loans

Advantages of Unsecured Loans

There are several advantages of Unsecured Loans that make us want to use it, here it is:

  • The process of getting an Unsecured Loans is quick and easy. Funds can be disbursed in less than a week. To be sure, no need to guarantee to the bank.
  • The required documents are few because they do not need documents or data for collateral.
  • Payment can be made in installments in accordance with the agreement between the applicant candidate and the bank.
  • Payment of credit installments is very easy because it can be done through an ATM machine. Because a number of banks provide auto debit schemes, which require debtors to have an account at a lending bank.
  • The loan interest is fixed (flat) from the beginning to the end of the loan repayment. While loans with collateral, interest rates fluctuate following the Bank Indonesia (BI) benchmark interest rate.
  • Unsecured Loans can be used according to your purpose, both productive and consumptive because you are the one who regulates its use.
  • Not only banks provide Unsecured Loans, but financial institutions also offer this product, making it even easier to find it.

Lack of Unsecured Loans

Lack of Unsecured Loans

Besides its advantages, Unsecured Loans basically also has a number of disadvantages:

  • This credit does not provide an opportunity for you to get a loan in large amounts. Usually, the amount of a loan is limited to a maximum of five times the base salary, even though there are those above.
  • The bank will immediately debit the balance in your savings as an installment.
  • The number of loans is limited and relatively small, with short-term loan tenors, between three to five years, adjusted for the size of the loan.
  • You must be an employee or employee or professional or entrepreneur with a fixed income every month.
  • Because this product is considered quite risky, you must create an account at the lender’s bank and require the debtor to channel his salary at the bank.
  • Because without collateral, Unsecured Loans interest rates are higher than other types of credit, depending on the lending bank.
  • If you pay off the loan before it’s due, you will be charged a penalty of around 5%.

Requirements and Process of Getting an Unsecured Loans

Requirements and Process of Getting an Unsecured Loans

Well, for those of you who are interested in this loan product, you must:

  1. Indonesian citizen (WNI) and domiciled in the country.
  2. Minimum age 21 years and maximum of 55 years.
  3. Have a job or a regular income each month, a minimum of USD 2.5 million.

To apply for Unsecured Loans, you can directly come to the bank concerned or via online because now many banks provide online facilities via the internet.

When applying for an Unsecured Loans, there are a number of administrative requirements, such as a photocopy of KTP, family card, NPWP, savings account for the past three months, original employment certificate and salary slip, professional practice permit for professionals / financial statements for companies or entrepreneurs.

Oh yes, good news for those of you who have a credit card because it will be easier to get an Unsecured Loans. Loh really? Yup The reason is, banks can easily see the ability and credit history of customers. If your credit record is good, then surely the bank will prioritize loan approval.

Rely on the following 7 items to get a loan from Good Lenders

The increase in prices of staple goods has a big effect on our spending levels. Sadly again, the payday is still 1 week away but the wallet is empty. Want to borrow money from friends, they are also broke.

Fortunately, there are currently many institutions offering money lending services to the public, such as Good Lenders. In order to process the withdrawal of money quickly, follow the tips below.

 

Tips for Applying for a Loan to a Pawnshop

loan application

1. Determine the Amount of Loans Required

The purpose of someone borrowing money is different. There is to finance children’s education costs, business capital, or just meet their daily needs. Know your purpose for borrowing money so that the amount borrowed matches what is needed. This will make it easier for you when paying installments to avoid bad credit.

 

2. Preparing Letters or Loan Terms

Loan Terms

 

3. Consider the Additional Cost Amount

Wherever you apply for a loan, there will definitely be additional costs, including at the Good Lenders. Additional fees paid are usually in the form of interest. The percentage of interest depends on the loan amount and the loan period. In essence, do not be late paying installments so as not to incur fines.

 

7 Items That Can Be Mortgaged

money loan

Good Lenders is a collateral lending institution. This means that before borrowing, you must prepare items to be used as collateral, such as:

1. House Certificate

House certificates become expensive pawned goods, especially if the selling price of the house is expensive. Considering that the money earned from pawning a house is huge, you can use the money for various needs. Starting from meeting daily needs, educational needs, health, and even capital to open a new business. By mortgaging a house, you don’t need to pawn another item when the money is running low.

 

2. Land Certificate

Although the price of land rises every year, the selling price is no more expensive than the selling value of the house. The amount of the pawn value obtained depends on the Land and Building Tax estimation. Luckily if you have a large piece of land located in a strategic area. Because, the value of the mortgage is definitely far more expensive than the value of the existing land pawn in the interior.

 

3. Motorized Vehicles

vehicle loans

Most Indonesians have motorized vehicles parked in front of their homes. Both motorcycles and cars, both can be mortgaged when finances fail. The amount of loans received is also quite large, especially if you pawned a car.

Motor vehicle pawn is arguably quite advantageous because the mortgaged is not the physical form of the vehicle, but the BPKB letter. Although it has been mortgaged, you are still allowed to use the vehicle while on the move. If the repayments are paid in full, then the mortgaged BPKB letter will be immediately returned by the Good Lenders.

 

4. Jewelry

Jewelry in the form of gold, pearls, diamonds, diamonds and gems can also be mortgaged for a while if you don’t have any more money. The jewelry pawn process is also very easy, especially gold, because the selling price is quite high. By attaching only a photocopy of identity, the money borrowed will immediately be disbursed.

 

5. Electronic Equipment

If you do not have the four items mentioned above, you can mortgage electronic devices, such as televisions, refrigerators, radios, even personal gadgets. However, the electronic pawning requirements are quite strict due to technological changes.

If you want to pawn electronic goods, make sure the production period of the goods is not more than one year so that the loan disbursement process is easier and faster. In other words, electronic goods that are pawned must be the latest type because the latest type is usually faster in the market.

 

6. Home Appliances

If you are confused about what you want to mortgage for the sake of earning money, don’t panic right away, you can still pawn household appliances. For example, kitchen sets, sofas, beds, including the wardrobe though.

In essence, the equipment is still good and worth using. Although the value of the household is not too high due to a decrease in economic life, at least the money can be used to meet daily needs before the payday arrives.

 

7. Branded Goods

Bags, shoes, clothing, watches, and eyeglasses produced by well-known brands can also be mortgaged if you don’t know what you want to mortgage let alone to earn money.

 

Don’t Forget to Pay Installments!

money loans

The installment payment system at Good Lenders is very strict. If you are unable to continue payments, like it or not, the mortgaged goods will become the property of Good Lenders. If you still want the item, pay install it in an orderly manner. Remember, don’t be late paying!

Borrow money at low interest – The lowest interest in the Netherlands!

Borrow money at low interest? Of course we all want that. The only question is of course what is the lowest interest rate at the moment. And where you can get this lowest interest right now. Borrowing money at a low interest rate, of course, starts with comparing things like so many things. Comparing loans may take you a little longer, but can save you a lot of money.

Borrow money at low interest rates

Borrow money at low interest rates

It is best to borrow money at a low interest rate in the form of a personal loan. Unlike a few years ago, the interest on the personal loan is now lower than the interest on a revolving credit. These differences are actually only increasing. The difference has now even increased to 0.3% on an annual basis. In addition, the interest with a personal loan is also a fixed interest. So you know where you stand.

Where can you borrow money at a low interest rate?

Where can you borrow money at a low interest rate?

We have just indicated that it is wise to request different quotes if you really want to borrow at a low interest rate. Of course you do not have to request a quote from every bank. As crazy as it may sound, you can already omit the bank where you have your current account. It is best to borrow money at low interest rates from credit intermediaries. These are parties that specialize in providing consumer loans. The cheapest loan provider at the moment is Good Lender.  The difference between the two is only 0.1% in favor of Good Lender. Taking out a loan with Good Lender is only possible through a credit intermediary. You can find credit intermediaries in our overview under personal loans and revolving loans.

Advice for borrowing money or execution only

Advice for borrowing money or execution only

If you are going to borrow, you can borrow money in two ways. You can do everything yourself, which is called execution only, or you can borrow money with advice. In both cases, the costs of mediating the loan are the same. Borrowing advice for money is free. This is regulated by law. No costs may be charged for mediating in loans.

Borrow money at low interest rates with BKR testing

Borrow money at low interest rates with BKR testing

Do you have a negative BKR registration? And do you still want to borrow money with a low interest rate? Then you will often be disappointed. The providers of advantageous loans all work with BKR assessment and BKR registration. So you cannot take out a loan without BKR testing. The big disadvantage is that you will always have to “get an expensive loan”. For example, you can request a mini loan. Keep in mind that this is really an expensive form of borrowing money, with a short term to a maximum of 62 days. In addition, the maximum loan amount is 1500 USD.