Artikel diperbarui pada 14 August 2023.
There are many people who have experienced the many benefits of applying for online loans. This is because pinjol can be a solution when there is an urgent need, especially for business matters.
One of the tips for choosing a credible pinjol is to entrust the online loan to pass the OJK. The financial institution was formed with the aim of protecting online loan users.
The many benefits that users can get, make the pinjol business increasingly mushrooming. Aside from the advantages of applying for an online loan, there are several things you need to consider to understand the world of online credit.
Some Advantages of Applying for Online Loans
Online loans have recently become a trend in people’s lives. The benefits offered are many according to the user’s purpose, but the interesting thing about pinjol is the ease of conditions.
In the disbursement process, you no longer need to visit a bank or financial institution. Besides the speed of disbursement, there are several things you should know about the following benefits of pinjol.
1. Light Interest Rates
The increasing number of fintech companies offering pinjol, it is not surprising that each of the companies competes with each other to reduce interest rates. This is done to get as many customers as possible.
2. Online Processing
3. Quick Fund Disbursement
The popularity of pinjol cannot be separated from the ease of disbursement of funds, users will like fast disbursement of funds to meet their needs. This condition cannot be found in banks or other financial institutions.
4. Easy Application Requirements
The advantage of applying for a loan online can be felt when applying where unlike banks, the average application requirements do not require other documents. It’s usually just an ID card, form, recent photo, and account book.
5. No Collateral Required
Borrowing funds in fintech does not require collateral requirements that complicate the lending process. So fintech is easier to like than conventional banks because users feel trusted by the lender.
The majority of pinjol only require scans of ID cards and pay slips as the most common documents when applying. As long as the data listed is guaranteed to be valid, then creditors can get loan funds as needed.
Allocate Online Loan Fund Ideas
The rise of pinjol companies during the pandemic has surged sharply because it can be an effective solution when you need money. Creditors can use funds to meet various needs, especially the business sector.
However, there are several things you should pay attention to when deciding to use pinjol services. One of them is the use of fund allocation so that you can benefit from the results of borrowing.
Instead of the money from borrowing just running out, it’s better for you to use the funds for positive things. For example, here’s a list of ideas on how to allocate your borrowed funds.
1. Paying Debt
You might think that paying off debts by borrowing money is like digging a hole and then closing a hole. However, the meaning is not that narrow especially if you have debt with a high interest burden.
2. Health Costs
When you make your health a top priority, you’ll need to pay for it, especially if it’s not covered by insurance. The benefits of applying for an online loan will help you overcome medical expenses.
3. Business Capital
If you want to start a business but don’t have capital, you can apply for a loan from a trusted fintech. Besides getting multiple benefits, you can get super fast funds to run your business.
4. Home Renovation
The benefits of applying for online loans can be utilized when doing home renovations that require large costs. But make sure you choose a loan company that offers low interest per month.
5. Education Expenses
Besides home renovations, you can rely on pinjol when you need education expenses. As we know, the cost of education today is not cheap so some of them require a loan.
Know the Types of Online Loans
There are several types of online loans that you need to know. When you know them, you will understand the differences between them, so hopefully there will be no mistakes when borrowing money.
On the one hand, understanding some of the types can help you when borrowing funds through fintech pinjol. So, consider the following types of online loans based on your financial needs.
1. Personal
As the name implies, the personal type is intended for borrowers who will use the funds personally. For example, medical expenses, wedding expenses, home renovations, and other needs.
2. Micro
Micro loans are usually intended for people who need small business funds. The loan amount is also relatively smaller, only in the hundreds of thousands to several million rupiah.
3. Pawn
The advantage of applying for an online loan gadai is the low interest rate. The difference with other pinjol is that the pawn type can provide valuables as collateral such as gold, jewelry, or electronics.
4. Education
In the case of education, the repayment period provided is relatively long according to the borrower’s ability. Apart from the lower interest rates, the education period does have a long time.
5. Investment
Who would have thought that borrowing could be targeted for future needs? You can get a lot of benefits from borrowing, and can return the borrowed funds as soon as possible from the profits.
Before deciding to borrow funds online, make sure you already know where the funds will be allocated.
