Taking a loan to buy goods or finance other needs is a common step. However, among the many loan products offered by banking institutions, individual loans without collateral or better known as Unsecured Loans (KTA) are considered as one of the best.
In contrast to other loan application procedures, unsecured loans only require customers to answer a number of basic questions and even credit applications can be approved by the bank in a short amount of time. In general, banks as creditors only need 15 to 30 minutes to get approval to withdraw money even though some banks still need more time, starting from 24 hours to 5 working days.
According to a survey conducted, although unsecured personal loans or KTA are very effective, it turns out that many customers actually lose more money and are trapped in a larger forest circle. This of course resulted in the emergence of various serious problems relating to finance and personal life.
Well, here are 7 common mistakes that are often made by people when applying for loans without collateral. The following mistakes may seem simple, but if they are not properly addressed, they can create more serious problems.
Getting a loan means you have agreed to commit, so consider carefully. Carefully consider the purpose of your loan application to the bank. Don’t force yourself to borrow money from the bank just for something that might not be too important. Give a priority scale to any pressing needs that require an injection of funds from unsecured personal loans.
Don’t Have a Long-Term Plan
Applying for a loan without being based on a plan can lead you to serious problems. When you borrow from a bank it is important to always consider your financial condition in the long run as a result of your obligation to pay installments. Make sure that your income every month is enough to pay off debt and enough to meet the needs of you and your family everyday and do not forget to save. Never take the forest if it will only destroy your life. Therefore, consider carefully about the future, especially about how you will pay installments and where you get to pay these installments.
Document Not Complete
Every customer is required to prove to the bank that he is able to repay the loan on time. One of the things that provides this ability is the completeness of the document. When you submit incomplete documents, your credit application will be hampered. This can be used by banks as an indication that you are a type of person who is ‘poorly prepared’ and is considered a risky debtor. Therefore, prepare all documents properly before you go to the bank to apply for credit.
Every customer is required to fill out a loan form honestly. Try to be honest because the bank can reject your application if it is coming that you are dishonest. If there are indeed things that you are reluctant to disclose, then consult with the bank clerk whether you are allowed to not disclose it.
Borrowing for Others
Not a few people apply for unsecured individual loans with their names but the money is used by others. This is a very dangerous step because after all the name registered with the bank is responsible for returning the loan. If in the future, the person who uses the money leaves and does not pay off the loan, the bank will collect the name.
Every credit application must be based on a contract. Behind the contract is a small writing. Read the information contained there carefully and carefully before you sign it.
Forgot to Comparison
If you don’t try to compare one bank to another, you will most likely find a bank that has high interest rates. Therefore, don’t forget to first compare several different banks for unsecured personal loan products so that you find the lowest interest loan.