What You Should Consider Before Applying Loans
Want to open a business, capital is insufficient, want to sell goods, but unfortunately, want to see the savings just are not reliable, if all all efforts have been done but still do not have the capital or the urgent need more, there is no way other alternatives as a solution to increase or obtain funds except to apply for a loan (credit) to the bank. Moreover, today many banks and financial institutions incentive to offer loans to the public with their respective advantages. For the right loans tips, you can see at recent news
Is that easy as you think just enough to simply apply for a loan to the bank, then immediately? It was not as easy as that process. Because you have to meet the requirements set by the bank you can ask directly in the relevant Bank branch office for more details. But you as people who want to borrow money from the Bank must also consider several things when you are going to do a loan application (credit) are:
- Find the appropriate loan
Loan is a decision that requires a commitment, and there is no obligation to pay in the next step. So, an important question that must be answered first is, ‘Can will you pay monthly installments on the loan you get, That’s why you need to adjust the installment will be done with the financial capability. The trick of course to find a loan that has a low interest and repayments of light that should definitely be adjusted your ability.
- Comparative each product
Before deciding to apply for a loan at a bank you should first compare each product between one bank with another bank. How to? Do need to go one by one bank and ask? Of course not. For this step can be done through online financial services are widely available today and also has a calculator simulation of credit that can be used for consideration by the loan that you will ask.
- Go interest system
Not just only installment appropriate only ability that you should consider when want to decide to apply for credit, but you should find out the system of interest imposed. There are two systems of interest typically used by banks, namely the flat rate system (fixed) and effectively. Two systems have different ways of calculation. Ask the customer service of credit offered. Find out an idea of how much installments you have to pay per month and a total return of credit that will be paid to the bank. Because with such calculations will be known what the system is used later in installments so if you are not surprised anymore.
- Use of collateral
Currently, some banks do provide loans without collateral. However, if forced to make a loan, you can choose the loan that requires collateral or guarantees. For loans with collateral is usually easier and faster to be disbursed. Because of the banks will be more confident and believe in the existence of collateral. This is also in anticipation of the Bank to maintain the possibility of bad loans.
- Determine the magnitude of small installments
Installment for a loan is very influential on how long you will repay and how much your repayments each month, indeed if you will choose a long-term installment installment you will certainly be smaller. But you should know, it makes the interest paid is usually much larger than the loan principal. Therefore, if the allocation of your income to pay the mortgage credit could meet with the short term, it will be better. In addition to the obligation to pay the mortgage sooner, the interest to be paid will be smaller even if the installment looks great.
- Go loans ratio
In order for your financial situation is not disturbed in the future with you apply for credit, the credit usually you take charge installments ideally have a maximum of 30% of your income. So, if your income Rp100 million per month, then try installment per month is less than Rp 30 million per month, it’s just a picture of course if your income is less able to adjust it. Because this is keeping the possibility if you also have another installment out of the wish to put forward, may also be many other costs that still your responsibility.
Maybe that’s Tips before you apply for a loan to the bank for consideration the above points you can make as a guide so that in the future when you intend to apply for already can be anything worth noting.