When in a situation of lack of funds, there are only two choices available. First, apply for a loan such as a Fine Bank loan. Second, delaying the realization of planned goals.
However, sometimes the situation requires that we cannot delay preparing these funds. For example, the need to renovate a house or not must be done quickly. Or pay for children’s education.
In that situation, proposing a loan is a reliable solution. Fine Bank loans are the most chosen type of loan. Because this loan is offered without the need to require any collateral.
It’s only natural that people tend to take Fine Bank loans compared to other types of loans. However, in applying for this loan, there are things that escaped the attention of people as discussed in the following discussion, what are they? Check it out!
There is a requirement to have a credit card
Hearing that there are no collateral requirements in applying for a Fine Bank loan, surely in our shadow is how easy it is to submit this one loan. The fact is that there are several conditions that must be met in order to get this loan.
These conditions escaped the attention of those who hurriedly decided to apply for a Fine Bank loan. In the end, there are not a few people who fail to submit.
Actually, the requirements for proposing unsecured loans or Fine Bank are not very complicated. You only need to prepare documents such as KTP, NPWP, and savings book.
Unfortunately, one of the requirements for applying for a Fine Bank cannot be fulfilled by many people, namely credit card ownership. When these conditions are requested, that’s when people finally decide not to take a Fine Bank.
Fine Bank interest is not the same for several loan amounts
It’s true that there are Fine Bank loans that offer interest of less than 1 percent per month. If you submit it, you really can get the low interest rate.
However, there is a difference, the interest depends on the amount of the loan you are going to ask for. Usually the greater the value of the loan you are proposing, the smaller the interest is pegged. Conversely, loans of small value are charged with substantial interest.
For example, a Standard Chartered Fine Bank loan . The loan was recently offered at 0.69 percent interest per month. The low interest rate applies for loans with a value of> USD 150 million – USD 300 million.
While for loans with a value of USD 5 million – USD 50 million, the interest is set at 1.29 percent. The difference is greater than the interest on the loan value> USD 150 million. This is the reason why you have to properly examine the terms of Fine Bank interest.
Loan repayment period or tenor
The size of the entire installment paid depends on the repayment period or loan tenor. So it must be considered really in choosing a loan tenor.
If you want a small total repayments, it’s better to choose a short loan tenor for example 1 year. However, the consequences you face are the fairly large installments paid.
Unlike you take a Fine Bank loan with a long tenor. The installments you pay are small. However, the total installments paid are quite large.
Other fees charged
Not only interest, it turns out, the bank also imposes other costs for those who apply for a Fine Bank loan . Fees charged such as provision fees, administration fees, insurance costs, transfer fees, stamp fees to annual fees.
Generally, the costs are always there, namely the provision fees. The amount of this fee is around 1-4 percent of the loan ceiling submitted. This fee is directly charged and deducted from the loan ceiling once the application is approved by the bank.
In addition to the fees mentioned above, there are other costs that apply to the debtor, such as the cost of acceleration of repayment and late payment penalties.