It is undeniable that we have been faced with the situation of needing additional funds, for example when a disaster strikes, additional marriage funds, additional costs for children’s education, additional home renovation, vehicle repairs, etc. At times like this we need people or institutions that want to give HC. For some people, borrowing from someone nearby may be the first choice. However, in general people will decide to borrow from financial institutions, both borrowing money from banks and non-banks. However, how to borrow money in banks and non-banks is also a little different. Before discussing how to borrow money at a bank, you should first understand the explanation of the following bank.
Understanding of the Bank
Banks according to Law No. 10 of 1998 concerning Banking are defined as business entities that collect funds from the public in the form of deposits and distribute them to the public in the form of loans and / or other forms in order to improve people’s lives. Banks that we often meet like BBI, MD Bank, ABC, MT Bank, and CX Bank Inc. are commercial banks. This commercial bank conducts conventional business activities and or adheres to sharia principles, which in its activities merit in payment traffic. In its operational activities, commercial banks are regulated by Bank in Indonesia.
Before Borrowing Money at the Bank, Check Financial Status and Customize Required Products.
Before borrowing money from a bank, you should pay attention to your financial status. The bank has two types of credit products, namely, Multipurpose Credit and Unsecured Credit. Multipurpose loans are credit products that require guarantees such as land certificates, motor vehicle letters, and other assets. Meanwhile, unsecured loan is collateral-free credit where you can borrow money in a bank without using collateral / collateral.
Before Borrowing Money at a Bank, Make Sure Your Credit Collectability Is Good.
The very important thing you notice when borrowing money at a bank is to make sure that your credit collectibility is good. What is Credit Collectibility? Credit collectibility is defined as the status of your credit installment payments to debtors, in this case the bank will usually do BI checking. There are 5 levels of credit collectibility quality, as follows:
- Quality 1 current status, where the debtor pays timely debt or current credit
- Quality 2 status in Special Attention (DPK), where debtors are in arrears for 1-90 days.
- Quality 3 status of Substandard Credit, where debtors are in arrears 91-120 days.
- Quality 4 Doubtful status, where debtors are in arrears for 121-180 days.
- Quality 5 Loss status, where the debtor delays more than 180 days.
The better your credit collectibility status is, the more likely HC is to be approved by the bank.
Then, How to Borrow Money at the Bank?
Not a few people are lazy to borrow money at the bank because the way to borrow money at the bank is considered complicated. Well, after understanding the credit products mentioned above, the following will discuss how to borrow money in the bank that you need to pay attention to.
The most basic way to borrow money from the bank that you need to know is to find out the requirements requested by the bank
You need to remember, each bank sets different conditions, so it is better before borrowing money in a bank try to find the required document information either through the website, bank call center , etc. This will save you time when borrowing money at the bank because all requirements have been prepared.
Complete the requirements set
As mentioned above, each bank sets different conditions, but there are 2 conditions that are definitely set by the bank, namely:
- You are an Indonesian citizen
- At least 21 years old
In addition to the two things mentioned above, the bank will also require the following:
- Photocopy of KTP (Identity Card)
- Photocopy of KK (Family Card)
- Photocopy of Savings Book or Checking Account
- Photocopy of NPWP (Taxpayer Identification Number)
- Photocopy of Salary Slip (some set a minimum amount of salary allowed to borrow money at the bank)
- Photocopy of Marriage Certificate
- Certificate of domicile
- Collateral / collateral delivery documents (for KMG products only)
Submit HC by coming to the Bank directly or online
You can do the HC bank submission in 2 ways, namely by visiting the bank directly or online. If you have time to submit directly, you can go directly to the nearest bank and you will be directed to a customer service that will help your HC submission. However, if you feel the way to borrow money in the bank directly takes a lot of time, you should submit it online through the financial aggregator .
In addition, if you are frustrated, how to borrow money in a bank, there are non-bank financial institutions that you can make an option. The non-bank financial institution that has recently been mentioned is HC online. Borrowing money from an online HC provider is basically similar to borrowing money from a bank, but the terms and methods of borrowing are easier than borrowing money at the bank.