Anyone must have applied for a loan, whether it be a loan to a friend or relative, a cooperative, an office, or even a bank. There are urgent things that can happen at any time that makes us have to lend. Lately, there are fast-paced money-lending loans that have become the public’s most sought after interest.
The reason this type of loan is of interest is that it can be obtained quickly. The process needed to disburse this loan funds is only 1-3 business days. Some providers even have the ability to liquidate a loan within hours. This is what gets people interested.
But you need to know that in fact, lending money without the guarantee of this speedy process will not always make your application successful. Rarely do people experience declines so they can’t lend. At this rate, you must be frustrated and disappointed.
To prevent such things from happening, it is recommended that before applying for a loan, you read some good tricks to make sure that money lending without guarantee is a quick process and that the funds can flow to your savings account. Let’s see with the guys!
Find out about Tenor Loans and Tenants
First of all, be aware of the loan tenure as well as the tenor of the installment given due to different loan providers, then the loan and tenor term provided will definitely be different. You should not apply for a loan beyond the specified limit or less than the minimum specified because if you do so, your application will be rejected.
Let’s say you have at least Good Finance is $ 1 million and the maximum funds available are $ 20 million. If you lend $ 500, your application will be rejected for less than the minimum loan threshold. Similarly, if you apply for a $ 25 million loan, your application will be rejected for exceeding the loan ceiling. Likewise, with tenor times, be sure to know exactly how much tenor period the lender will determine.
ID and NPWP are Required Terms
The second trick is actually very common and you probably already know it, the possession of a Resident Identity Card. Your ID card is very much needed by your lender so they can know and verify your identity and nationality. There are few money lenders without the guarantee of a speedy process that requires Indonesian citizenship. In addition to IDs, there is an NPWP (Taxpayer Identification Number) that is often considered trivial by some.
Currently having an NPWP is just as important as having a national ID because the Financial Services Authority (OJK) has set rules that require that everyone who lends credit must have a personal ID. This NPWP owner is required as a reference point for your provider to know how much you are liable to pay the state tax because if you pay the tax diligently, it does not cover the possibility that you will also pay the installment bill on time. Additionally, through the NPWP your provider can also check your income amount by looking at the PPh21 income tax payment history you have paid each year.
Check the Documents Completion
There are many unsecured loan applications that are rejected because the terms of the requirements provided are incomplete. This is possible because we are in a hurry because we need funds so quickly that we are less careful and just provide the necessary documents without checking back. The document provided is complete, but why is it still rejected?
This may be because the document you provided is unclear because the average money lending document without the speed of the process is provided in the scanned digital format first. It could be that the scan results are unclear or blurry so they can’t be read. Therefore, it is very important to review all the documents you provide. Make sure the document is legible. The same applies if the document provided is in the form of a copy.
Each lender must have different requirements on money lending products without the guarantee of a fast process. Let’s say the requirements document must be digitally provided, with administrative and provisional fees to be paid in advance, to how the loan system works. All of these terms will definitely be listed and provided by the lender with no quick process guarantee. It’s just that we’re often lazy to read it and just skip this column.
While carefully reading the terms provided by the moneylender without the guarantee of a speedy process, we will avoid missing out on the conditions that can make the loan rejected. Let’s say that the documents provided must be physical while you are providing the digital form. So be sure to read the conditions carefully.
Select Submission at the Right Time
Applying for a fast money loan without the guarantee of a quick process at the right time will be quickly processed. Is there a good time to lend money without a guarantee of a quick process? Of course, there are. If you apply for a loan on Monday-Thursday, the chances for a quick loan are greater as it usually takes 1-3 business days to process unsecured money lending.
But if you apply on Fridays, chances are that your loan application can be processed on Mondays because even if you apply for a loan online, the process will still be done on weekdays. Lending hours can also determine the loan process faster. It is best to apply for credit during business hours between 8 am and 5 pm. This is done so that when a document is lacking or incomplete, you can immediately get a notification from the money lending staff without a quick process guarantee.
Make sure to Have a Good Credit Tracking Record
Some fast- track money-lending providers don’t do Good Credit Checking and some don’t. Good Credit Checking is done to find out credit track records to see your credit reputation. Good Credit Checking is done by looking at the data available on the Good Credit Debit Information System. If you have a good track record of credit, then applying for credit is acceptable. But if your credit record is poor, then applying for credit can be rejected. What does the credit track record determine?
As the name implies, a credit track record is a credit record you have always had. This could be homeownership credit, credit card, motor vehicle credit and more. If you have overdue payments, then your credit record can be bad. Also, if you always pay the installments on time, you will have a good credit track record.
Apply for a Loan Without Secure Quick Loan Process as Needed
Lending money without the security of fast processes offers a lot of conveniences, but that doesn’t mean you can lend it yourself. Make a money loan without the need for a quick process as needed. Let’s say you need a fund of $ 5 million, ask for $ 5m. Don’t lend money beyond your real needs because in your loan fund there is an interest you have to pay. It’s best to do a debt ratio calculation first.
Typically, a secured debt ratio is about 30-35% of your total monthly income. So suppose your monthly income is $ 10 million, then your monthly debt installment cannot exceed USD3 million to USD3.5 million. If it turns out that your debt has reached that number, then pay off first, and then you can lend money without the guarantee of a quick process. That way you won’t be out of debt.