What is Unsecured Credit?
Unsecured loans (also known as unsecured loans) are loans provided by banks in the form of cash, which can be obtained without providing collateral, usually in the form of personal assets. Banks generally offer unsecured loans for various purposes, including education costs, home renovations, working capital, and other needs.
Characteristics of Unsecured Loans
What does an unsecured credit system look like? According to OJK, there are several characteristics of unsecured loans.
- It does not require collateral as security.
- The credit process is generally faster and easier.
- Provision and administration fees will be debited directly from your account.
- It can be used for various needs
- Total credit can be taken in cash.
- Interest calculation is based on the applicable provisions in each bank.
- Employees, self-employed, or professionals can apply for it.
Types of Unsecured Credit Services
There are several types of services in unsecured credit that you need to know, including:
- KTA Dana Cepat is a loan that can be disbursed quickly in less than one week. This loan product is perfect for those who need emergency funds.
- Long Tenor KTA is a loan with a long repayment period or tenor. That way, the installment funds that you spend are relatively light. There are long-tenor KTAs with a repayment period of up to 3 years.
- KTA Early Payment Fee is a loan whose repayment time may be accelerated without incurring a penalty.
- Salary KTA or Payroll KTA is a loan for customers who want to channel their salary directly into repayments to certain banks. With payroll, the bank will be confident in the customer's ability to make payments.
- KTA Without Credit Card is a loan that does not require borrowers to have or apply for a credit card first.
Before applying for an unsecured loan, please consult with the bank first. You can discuss the purpose of the application, the type of credit expected, the repayment tenor, the applicable interest information, and the completeness of the required documents.
As with all forms of loans, unsecured loans also require detailed planning from the borrower. Using this loan for productive needs and having a clear repayment plan is vital in avoiding financial problems in the future. With a wise approach, unsecured loans can effectively meet economic needs without sacrificing valuable assets. To find out more about financial tips, check here.
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