This is the reason people choose Personal Loan products
Unsecured Credit is one of the loan products that is quite attractive to customers, the reason being that the loan application is fairly easy.
When applying for a Personal Loan, customers are not required to prepare assets for collateral for the loan. That means, Personal Loan products are an easy solution when you are in desperate need of money.
Because of the easy process, Personal Loans are a loan product that is widely used today. Because, you only need to prepare your identity card, credit card, and proof of permanent income as a condition.
Because of the convenience provided, the reasons for people applying for Personal Loans are very diverse. Not only for the needs produkti course you know, many are asking loan just to meet the needs of consumptive. Do you want to know what reasons are commonly used by customers in applying for Personal Loans?
9 Reasons That People Often Use to Submit a Personal Loan
There are 9 reasons that people often use to apply for Personal Loans. We discuss one by one.
# 1 Personal Loan As Business Capital
Debt is not always a negative thought, you know, as long as the debt is used for things that are useful and full of calculations, it would be productive debt. One of them you can use debt for business capital.
Thus, if the debt is managed properly it will actually develop the business that you are living. And of course, you become profitable because of debt. But remember, the debt still has to be paid!
Although the process is easy, it is not advisable also know to capitalize the business just by using loans loan. Preferably, the use of loan is only for additional capital. Because if all capital comes from a loan, it will be difficult to return the borrowed funds. Unless you are smart in managing it. All back again how you run the business.
# 2 Personal Loans for Buying Goods
The second reason people apply for Personal Loans is usually to fulfill the desire to own goods. The types of goods are diverse, can be vehicles, electronics, can also be used to meet his fashion needs.
Even though Bob Sadino once gave the saying “Stand in accordance with the contents of your wallet”. What can we do about it? That is man, always wants to fulfill his desires, not his needs.
Most people use Personal Loans to buy motorized vehicles, although the interest is much higher than Motor Vehicle Loans (KKB), loan is in great demand because it does not need a down payment.
# 3 Personal Loans for Home Improvement
Many also know that applying for loans to renovate houses loan. Well, if this goes into productive debt or consumer debt?
The answer depends, if the purpose of renovating the house is to increase the selling value, maybe this Personal Loan becomes productive. In addition to adding to the selling value, there are also those who really want to improve the house because the condition of the house is demanding to be renovated. A shortcut to being able to immediately realize the renovation project is to borrow. Loans that are suitable for home renovation are loan.
The process of submitting a loan is concise and fast so the reason why this loan is suitable when you need a home renovation. If your intention is to increase the sale value of the house when it is sold, you need to calculate it first. You can calculate whether you still have profits from the total price of the house when you bought it and the number of renovation loans.
# 4 Personal Loans to Buy Houses
Owning your own home as you wish might be everyone’s dream, but nowadays house prices are no longer cheap, especially in big cities.
With the existence of Personal Loan products this makes it easy to realize this dream. Nevertheless buying a house with a Personal Loan is quite risky, you know.
The loan tenor is quite short. In addition, the Personal Loan ceiling is much smaller. If it is not careful, this will actually burden the borrower.
Similar – similar to the second point. When compared, mortgages (mortgage) usually apply a fairly long tenor, namely 15 to 20 years. However, you must pay a deposit in advance.
Meanwhile, the loan tenor is only around 3 years but does not need a down payment.
If you earn under Rp10 million, you should choose a mortgage. For those of you who earn up to tens of millions can take loan. With a Personal Loan note, it is used to build a house.
So, you need to buy the land first. Thus the loan amount is not too large.
Other ways can also be used for Personal Loans for down payments on home mortgages. Please consider carefully before you make a decision.
# 5 Personal Loans for Marriage Fees
There are also those who propose Personal Loans for married capital. This is not recommended, why? Because after marriage you should think about the cost of living and other household needs, not even busy thinking about debt.
The solution if the wedding time is still long, you can work harder and can invest to increase the cost of marriage. Oh yes, now you know you can count the wedding fund in Applications Amelia Sedley.
# 6 Personal Loans for Education Funds
Using loan as part of your education fund, you will be very burdened. This is not recommended.
Remember, besides paying loan installments, you also have to pay other bills such as paying tuition fees, buying books, uniforms, and much more.
Therefore, education funds for children need to be prepared as early as possible. One trick is to prepare funds before the child enters a certain level of education.
Calculating education funds can also be simulated using the Amelia Sedley Application.
# 7 Personal Loans for Holiday Funds
Sometimes undergoing such a routine just makes you feel tired, if it’s tired, it’s a holiday.
But your savings are not enough for a vacation to the desired place. Now here are many people who use Personal Loans for vacation funds.
Actually it’s not wise, if loan is used for holidays. Because later after the holiday is over you will be burdened with the loan installments that you borrow.
# 8 Personal Loans to Fund Disasters
Nobody knows when disaster comes, and no one wants it. Because the process is fast, making Personal Loan products immediately glimpsed during natural disasters.
It’s not wrong if you use a Personal Loan to finance disaster, for example your parents are experiencing pain and require surgery, you can rely on loan for parental safety.
Although actually a disaster problem such as accident, fire, illness and so on, you can overcome it if you have an emergency fund.
# 9 Personal Loans to Pay Debt
There is one song created by Bang Haji Rhoma Irama entitled ‘Dig the Hole Close to the Hole’. Yes, this phenomenon is very much found in society.
The name of the debt especially to the bank, there must be an agreed upon maturity. If passed from the date of payment yes definitely will be charged by the bank, not least also know that until visited by debt collectors.
Personal Loans can be a temporary solution, only temporary because you still have to pay loan installments and the following month’s installments to the bank. The fall actually becomes double-debt and debt.
The solution, start fixing your finances. Try to be productive and not too consumptive.
Look for additional money and investment
Look for extra money by investing, and certainly start planning your finances early.
If your plan and financial management are good, you are less likely to apply for a Personal Loan, because the savings and emergency funds that you prepare can cover all your needs.
Do you have the same reason if you apply for a Personal Loan to a bank? Please give your comment in the column below, thank you.