Need a loan
One of my friends, once told me that he needed a loan fund to buy a gadget , considering that the money he had was not enough to buy but the desire to own the item was already high.
My friend asked me, is it wise to apply for a loan? Then, what kind of loan is suitable for my friend’s case?
There is no harm in applying for a loan, if we can pay it the following month. What usually happens is that people have already been in debt and feel that if they take a new debt again, it won’t be a problem.
Before applying for a loan, it’s a good idea to check your financial health first. Knowing your financial health will make it easier for you to make decisions.
You can make a financial health check at the link below. You just need to enter the required data, then you will be given results from your financial health check.
As we already know, there are a lot of financial products that offer loans, ranging from credit cards to unsecured loans. If indeed you need loan funds, both to buy goods or other needs.
Better to apply for a credit card loan? Because a lot of people don’t know the second type of loan. Here I will explain about Credit Cards and KTA.
You must often hear this one loan product, the name is a credit card. Or even you already have a credit card. Actually, do you already know what this credit card is?
If you don’t know what a credit card is, this credit card is a payment instrument. Yes, payment instruments when you are going to buy something, like shopping at a supermarket, buying things, and so on.
After a month has passed, you will be given a bill to pay for all the purchases that you have made before. The repayment itself includes interest of 2.95 percent.
However, if you pay off all your credit card bills, then the interest will not appear. So, you now know that this credit card is a means of payment.
The convenience of this credit card itself is that you do not need to apply when you are going to buy goods. Once you have got your credit card, you only have to use it wisely.
You also have to pay the costs on a credit card, such as interest, late payments and annual fees if you use a credit card.
These fees and interest can be higher compared, so you have to pay your credit card bills on time in accordance with your minimum amount so as not to be exposed to flowering interest.
Don’t forget to pay your credit card bills on time, so you can still enjoy the benefits of your credit card.
If you also have a credit card, you will get benefits in the form of rewards from the credit card provider bank. Usually, these rewards can be used for additional discounts or other promotions.
However, there are still many people who are not wise in using this credit card. There are still people who use the fund withdrawal feature from ATM like a debit card.
In fact, if you take cash from your credit card there is a withdrawal fee that can reach 4 percent or Rp 50,000, depending on which nominal is greater. Taking cash from this credit card is called a cash advance .
For example, you take cash in the amount of Rp100,000, which means that if you are charged 4 percent, you will be charged Rp.4,000. But the 4 percent nominal is still less than Rp 50,000.
So, you will be charged a fee of IDR 50,000 each for taking cash of IDR 100,000.
Can you imagine, if you continue to take this cash advance , not infrequently people feel confused because of this cash advance feature. It’s a good idea not to withdraw cash using a credit card.
This credit card is more suitable for short-term loans that are most favored by many consumers.
The advantage of having your own credit card is that you can first transact more than your account balance, but only limited to credit card limits. Second, it can be used to transact online or offline .
Third, the number of promos and attractive offers that can help us become more economical. Fourth, transactions and disbursements are easy and fast without requiring a submission process with troublesome conditions.
Do not forget, too, the use of credit cards also turns out to have disadvantages, you know . The first disadvantage is that there is a high additional cost or interest if you make a cash advance .
Second, there is interest if you are in arrears in paying off credit card bills. Third, interest rates are quite high because they are calculated per month. Fourth, prone to theft, abuse and burglary.
Now you already know how to use and designate credit cards. Next, I will discuss about the second loan product, namely Personal Loan (KTA).
This Unsecured Loan is a loan that can be submitted to a bank by the community without providing collateral or loans. Usually this Unsecured Credit is used for Long-term loans.
KTA is often used for customers who are in need of fast funds. Usually, people who apply for KTA are used as business or business capital.
This KTA is indeed used to finance things that are productive, meaning that the debt you will submit is not for your consumptive needs.
So, it is not surprising when the loan interest offered by KTA is quite high.
What if you want to apply for KTA for your consumptive needs, such as buying vehicles, gadgets and so on? You may apply for KTA for your consumptive needs.
But remember, you must be wise in using it. Do not let the KTA debt become a burden in your life, even though you have the intention to apply for to facilitate your life.
Unlike the credit card previously explained, this KTA has a tenor or loan period. New credit cards have a tenor when you use them to buy certain items by installments.
Because it has a tenor, KTA must be repaid in a predetermined period of time. After paying off and needing more loan money from this KTA, then you have to re- apply .
The process to apply for KTA takes 2 weeks to 1 month and your submission also has the opportunity to be rejected.
The advantages of applying for this KTA are, the first is a fast and easy submission process and does not require collateral. Secondly, the document is a small submission requirement.
Third, the amount of payment can be repaid in accordance with the agreement with the bank. Fourth, the payment process is now quite easy. Fifth, you can use it for any purpose as long as you can pay it.