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.