Calculate online loan installment: what is the simulation for?

The calculation of the loan installment or the calculation of the personal or finalized loan installment are tools that allow you to make simulations on the loans. 

Is it better to calculate the personal loan installment of Across Lender, Spin Lender, Capital Lender or the independent one?

Is it better to calculate the personal loan installment of Agos, Bnl, Compass or the independent one?

Numerous banks, especially online, and various financial ones, offer calculators on their sites that can be used for free to make simulations.

The use of the installment calculator for a loan highlights important data in the choice of loans (auto, personal, restructuring, etc.), which are:

  • The instalment;
  • the rate applied.

Both items depend on the duration or the number of installments chosen. The result obtained, as much as you use an independent installment calculator and a calculator made available by the company that provides the financing, must be the same.

Having said that in most cases there may be discrepancies in the calculation of incidental expenses.  

Calculate loan installment: from a practical point of view what are the concrete differences?

Calculate loan installment: from a practical point of view what are the concrete differences?

If you use the loan installment calculation for example of Across Lender (see also Across Lender toll free number ), you must indicate only the desired amount and then choose the installment or duration you prefer.

This also happens because this type of service is functional for initiating a request for a quote, and then possibly for continuing with a formal request for funding.

If you use an independent financing calculation you must also enter the tan and the Taeg if you want a complete data on the total cost that you will have to bear, in addition to typing the figure and the duration of the preferred amortization plan.

Calculate loan installment: how is sustainability and feasibility assessed?

Calculate loan installment: how is sustainability and feasibility assessed?

It is necessary to make a clarification immediately:

No software or tool that acts as an online calculator can guarantee a feasibility judgment that translates into certainty of the granting of the loan, not even those that are used as a pre-estimate.

Instead they can be useful to make an assessment on the sustainability of the installments. In this regard, there are more useful sites, because they are designed for this very reason.

Take out a loan during the trial period.

Anyone who has found a new job after a short or long period of unemployment has finally solved their biggest problem. Entry into a new company usually begins with a trial period of a few months, but those who do not do too clumsily during this time will be rewarded with a permanent position.

However, should important purchases fall due during the trial period that have to be financed by a loan, consumers quickly reach their limits. Banks usually only rarely grant loans for the replacement of a household appliance or the urgent repair of your own car to consumers who are not in permanent employment.

Permanent job as a criterion for lending

An important criterion when granting a loan is that the potential borrower is able to transfer the repayments due to the bank throughout the agreed loan term – the bank receives the certainty that the consumer is constantly liquid through the permanent position of the applicant. However, if you apply for a loan from the bank during the probationary period, you cannot guarantee that the bank will actually take on a permanent position for you – the bank therefore often lacks the necessary security and is very likely to reject the application.

Second permanent borrower increases the likelihood of lending

Second permanent borrower increases the likelihood of lending

However, there is still a possibility for consumers to get a loan from the bank even during the trial period: If the loan application is made together with a consumer who is in permanent employment, the probability of acceptance usually increases significantly. The second borrower is liable with his salary in the same way as the first borrower during the probationary period and therefore also reduces the risk of lending to the bank.

Another way to convince the bank to issue a consumer loan despite the trial period is to provide additional collateral: Consumers who have property or life insurance, for example, should indicate this when applying for a loan, in order to also increase the likelihood that the Bank agrees to the financing request.

Let’s Loan: Online Loans and KTA Quick Liquid!

Need a loan to pay rent? buy an air conditioner? pay school fees? buy a motorcycle? Need a loan in an emergency? shopping needs? Need cash right away? your needs can be fulfilled by the Lending Money Loan application.

Loan Ryt is an application (mobile Apps) that provides quick and easy cash loans to consumers. This application operates in Indonesia, to make it easier for users to borrow money faster. The loan process only takes a minimum of 1 minute to transfer money to a bank account automatically.

With short-term loan applications, anywhere and anytime, Ryt Loan can meet your needs. We offer unsecured loans to you by applying for money loans online to make it easier and faster, so you don’t need to borrow money from friends or family. This application can facilitate your life.

 

Loan Application General Features

Loan Application General Features

  • Anytime and anywhere
    Want to borrow money anytime? You can directly apply for a cash loan through our online application. It only takes 1 minute to apply for a loan, it’s easier to borrow money
  • Borrowing money is easier and faster
    It only takes 1 minute to complete the loan application and within a minimum of 1 minute the money will be sent
  • Easy requirements
    If you are an Indonesian citizen and aged> = 18 years, then you can apply for a cash loan in this application

 

How to Apply Online Loans Through a Loan Application

Online Loans Through a Loan Application

  1. Download the Loan Ryt application
  2. Fill in the loan application form
  3. Submit / submit your cash loan

 

Loan Submission Requirements

Loan Submission Requirements

  • Indonesian Citizen (WNI)
  • ≥ 18 years old

 

Documents Required for Loan Submission

  • Personal information
  • Job information
  • Emergency contact
  • Account number
  • Upload a private photo

 

Additional information

online loans

  • Amount of loan: USD 600,000 – USD 1,000,000
  • Loan tenure minimum: 60 days
  • Maximum loan tenure: 60 days
  • Interest rate: 2% / day
  • Estimated disbursement time: 1 day
  • Approval rate: 89%
  • Late fees: 1% (1 week late) and 2% (after 1 week past) of the loan amount
  • Loan confirmation time: directly from the system
  • How to collect loans: Via Phone, SMS, & Door to Door
  • Service / payment 

Paylater or Credit Card, Which is More Profitable?

At present, applying for credit is much easier than before. Especially with the presence of this one-credit feature innovation that makes credit transactions much easier. The credit limit or unsecured loan feature is Pay later.

Pay later is a solution for you who want to take credit installments without the need to have a credit card. Well, if you have previously failed in applying for credit, you can try Pay later. Because many people then switch to using Pay later after the credit application is rejected by the Bank.

Even now people are actively using Pay later, actually, the difference is that credit cards are physical, and Pay later is an application. But both have the same function as unsecured money loans for people who apply for credit.

Credit Cards VS Pay later, Which Offers Lower Interest

Credit Cards VS Pay later, Which Offers Lower Interest

Credit cards and pay later certainly have different interest rates. Bank Indonesia provides a maximum credit card interest requirement of 2.25%, and the Bank may not apply interest rates far above the 2.25% rate.

In addition to several credit cards, you are given a 0% interest facility on the installments you take. There is only a condition, that is if you buy goods at a merchant that has cooperated with the Bank for an installment program with 0% interest.

In addition to that on a credit card, you can also continue to use the 0% interest facility as long as the credit card installments that you pay before maturity or when they are due. If you pay after the due date, then you will be given a total interest of 2.25% and penalties for the late payment of credit card installments.

Meanwhile, for pay, later interest, specifically for E-Money Pay later applying an interest of 2.9% per month, Pay later Traveloka which is from 2.14% to 4.78% per month, Pay later is an interest of 25 thousand per month, and Good Credit interest 0 percent up to 2.95 percent per month.

Pay later also has 0% interest, such as credit cards, only for the condition that the installments must be paid in installments for 1 month.

Longer Credit Card or Pay later Tenor Installments?

Longer Credit Card or Pay later Tenor Installments?

Speaking of tenor installments, there must be people who want the installments to be given a longer time, but there are also people who want a tenor or a short time so they can quickly repay a debt to the Bank.

But in fact, even though the tenor is long, you will still be charged an interest fee that will automatically increase your loan installments. But there are also those who choose a short tenor so they can quickly pay credit installments and the fees are not too large with interest costs. Credit card installments generally start from 6 months, 3 months, up to 12 months. There are also up to 18-24 months.

In contrast to credit cards, the pay later tenor gives a maximum time of 12 months. Ana can also get tenors faster for Pay later such as 1 month, 3 months, or 6 months at Pay later.

More Credit Card or Pay later Fees?

More Credit Card or Pay later Fees?

Well, this is the most important for you who want to apply, whether credit card / Pay later. How much does it cost and more for a credit card or Pay later? Next, we will explain the details.

For credit cards, you will be charged an annual fee that you must pay regularly every year. And the amount of this fee varies by each bank. As an example of the type of credit card several banks below with the amount of annual fees.