Cross Puzzle About Online Loans
Before we thoroughly examine the payday loan online or loan, to make it more exciting, try to check your knowledge about loans through crossword puzzles that you must fill in the following:
Get to Know the Lines in the Age of Financial Technology
Are you still unfamiliar with the term payday loan?
Some time ago, lending money was discussed because financial institutions competed to create innovation amid the development of the financial world towards Financial Technology.
Innovations created are born through the application of technology to the transaction system so that it can be accessed safely anytime and anywhere through customer gadgets as a form of best service. Regarding the loan, it is a credit facility or loan service that can be done online. Looking at the process, it is considered easier and faster than submitting unsecured credit facilities or other personal loans offered by financial institutions such as banks.
It’s just that the nominal given in this loan is indeed not big but at least it can help you when you need urgent or sudden money needs. Although the process is relatively fast, there are still some requirements that must be completed. Even though it looks profitable, but you need to be careful in dealing with this loan, one of them is by choosing and ensuring a trusted site or company.
In addition, you also need to know that usually the interest rates offered for loans are higher than bank loans, accompanied by a shorter tenor or loan period.
Lending Service Provider
If you are curious about this loan system, there are many sites or start-up companies that facilitate loan services. Some of them are as follows:
# 1 Loanapedia
Are you familiar with Loanapedia? Usually what do you do on this platform? Buy and sell online?
Well, for your information, Loanapedia currently provides loan facilities with a maximum tenor of 96 months and a maximum nominal of 200 million rupiah, for loans in the form of loans with collateral or loans without collateral. Loanapedia also partnered with a number of banks and financial institutions in Indonesia to provide loan and insurance facilities.
# 2 MangTeam
MangTeam is a business managed by Company in Indonesia which is overseen by the OJK. MangTeam as a credit provider service site with a short tenor, which is between 10 and 30 days.
MangTeam provides loans for both consumer and business purposes with a maximum loan of IDR 6000,000. Loans in MangTeam do not require collateral and do not require a credit card, with the process of applying for credit until disbursement for 3 working days.
# 3 Tunaykae
Must be familiar with Tunaykae?
Yup, sites that are under the management of Bank in Indonesia provide online money loan services without collateral with a maximum nominal of IDR 20,000,000 and a maximum tenor of 20 months for consumptive and productive purposes.
The advantages of this site are also supervised by OJK, you know…
These are the Terms, Method of Submission, and Pasmoney Payment Rules
The loan is often the choice of the people who need urgent cash needs. Generally, the loans proposed are consumptive loans and productive loans with a short term.
Although fairly practical because you do not need to come to a bank or financial institution, there are still some requirements that must be met, including:
- Minimum age 21 years, and have a KTP.
- Indonesian citizens.
- Have a bank account.
- Fill in accurate personal data.
- Include supporting documents, including salary slips or business certificates.
- Some sites / applications will also ask you to upload selfies.
As the name implies that this loan is done online, then you can submit these conditions through the site or application by following the procedures and steps listed on the site or application.
How to submit a payday loan
Here are a few simple steps for those of you who are interested in doing a payday loan:
- Visit the site or install the online money loan application that you want.
- Fill in the online form then input the loan amount and tenor you want.
- Select your loan payment / repayment process
- Complete the submission process and wait for the notification regarding the verification process no later than 3 × 24 hours since you applied for an online money loan.
- Once verified, you will be asked to sign a contract, then the funds will be transferred to your account. Simple right?
Pasmoney Payment Rules
Oh yeah, after you receive the funds transferred through the loan, you don’t just fall asleep until you forget to pay the installments and the loan interest. From the varied tenors that you choose, be it daily, monthly, or yearly, there are loan interest in them that must be paid.
Worry if you don’t follow a payment schedule that has been set or is due, you will be fined according to the policies of the lending company. But, if in the middle of the tenor it turns out you have more fortune and intend to pay off before the tenor runs out, you can still make returns faster without being charged a penalty fee.
If you intend to apply for a loan again, you have to wait several days after paying off the loan in accordance with the policy of the lending company to be able to apply for the next loan.
Pay attention to Profit and Loss of Payday Loans
Like two sides of a coin, there are advantages and disadvantages of this innovative service. If you are not careful, instead of profit, you will get a loss.
So, before applying for a loan you should consider the following profit and loss side:
Benefits of a payday loan
- Pasmoney is the solution for you who need funds in a fast time,
- The submission process is done online, so you don’t have to bother visiting merchants or branch offices to apply for money loans.
- Requirements are relatively simple and not difficult.
- The loan has a short tenor, meaning you must immediately provide money to repay the loan before the due date.
- If you pay late, a substantial fine will be charged.
- Interest on loans tends to be higher than loans from banks.
- The amount of funds that can be borrowed is smaller than a loan from a bank.
Consider Priorities and Capabilities when Submitting Lending
Innovations born from the development of the financial world deserve to be appreciated, but that does not mean that these loans bring bad habits because you think that to get cash is not a difficult process.
We recommend that you return to your priorities and needs before applying for an online loan. This priority must be in line with your ability to pay the installments. So, be wise huh… Oh yeah, you can read the Financial Planning ebook for the age of 20 from the Karamazov brothers below for FREE, so you can better plan and organize your finances, happy reading.