What are bank loan products in Indonesia? Do Personal Payday loans include examples of loan products? Bank Rakyat Indonesia (Personal Payday ) often cooperates with the government to provide banking products that can help the middle and lower classes of society. One example is a variety of loan products that attract and facilitate society. Here are various bank loan products in Indonesia, and Good Finance has centered case studies on Personal Payday loan product.
Get to know Personal Payday Loan Products and their Terms
The loan products offered by Personal Payday are indeed diverse, but before you apply for a loan, you should first know the various types of loans and terms in the process of lending and borrowing money at Personal Payday . The general terms used in Personal Payday loan products are:
- Creditors are banks or financial institutions that provide loans
- A debtor is a customer who can apply for borrowing money or obtaining credit.
- Tenor is the installment period that must be paid.
- Installments are the amount of money to be paid in each period.
- Interest is the compensation paid in the form of a percentage of the loan amount in lieu of borrowing money.
- Flat interest is the interest value that takes into account the total debt from the value of the loan proposed evenly.
- Effective interest is the interest value that takes into account the remaining loan (the remaining installments that will be paid will decrease each year).
- Floating is the amount of interest that varies depending on market conditions.
- Fixed is a fixed amount of interest from the beginning to a certain period of time.
- Maturity is a time determined by the bank where the customer is required to pay the installments on time according to that date.
- Penalty is a fee that must be paid by the debtor if it repays the loan faster than the agreed time.
Once you get to know the general terms in a Personal Payday loan, you can now find out and get to know various types of loans from Personal Payday . Good Finance will describe various bank loan products in Indonesia, and focus case studies on Personal Payday loan products.
Personal Payday Business Credit (KUR) Personal Payday
Personal Payday KUR is a type of Personal Payday loan product for micro, small and medium enterprises with a productive and feasible business with a mild interest rate, namely an effective interest rate of 9% per year. Low interest rates can be obtained due to subsidies from the government so that even though many other banks offer similar products, people prefer KUR Personal Payday . There are 3 types of KUR available, namely:
- Retail KUR. Working Capital Credit and or Investment to debtors who have a productive and feasible business with a ceiling of less than Rp25 million to Rp.500 million per debtor.
- KUR Mikro. Working Capital Credit and or Investment with a ceiling of up to IDR 25 million per debtor.
- KUR TKI. Loans given to finance the travel needs of prospective migrant workers to the placement country with a ceiling of up to IDR 25 million.
Personal Payday Micro Loans
Personal Payday Micro Loans is a type of loan from Personal Payday that is general in all economic sectors, both for individuals or medium and lower business entities. KUPEDES is basically almost similar to KUR, and is made as a substitute for KUR after all KUR funds have been disbursed.
The main purpose of KUPEDES itself is to support the financing needs of all types of businesses in meeting working capital and investment needs and supporting other funding needs such as tuition fees, home improvement, and so on. The submission procedure is quite simple because the proposed collateral does not require a certificate, installments can be adjusted according to needs, free of provision fees, and there is a bonus if you pay installments on time.
The uniqueness of KUPEDES credit is that you can apply for a loan even though your business does not have legality provided you include a business certificate from the village head or local village head. Therefore, KUPEDES is an alternative solution if you are constrained in submitting KUR Mikro or KUR Retail.
Retail: Commercial and Medium Loans
The types of business loans offered by Personal Payday for commercial and medium retail are divided into 6 types, namely:
- Working capital credit. Credit facilities to finance business operations such as procurement of raw materials and production processes with competitive interest rates.
- Supply Chain Financing (SCF). Credit to meet supply chain capital needs and become a solution for corporate customers to gain flexibility in establishing Terms of Payment without sacrificing cash flow of Supplier (Vendor) or Buyer (Distributor).
- Investment Credit. Credit facilities to finance capital goods or company fixed assets such as machine needs in the medium or long term.
- Credit Franchise. Credit facilities for individual individuals or business entities that will start a franchise business and require investment funds to support their business.
- Collateral Credit Cash. Credit facilities where all collateral or collateral are demand deposits or deposits and are often referred to as fully cash collateral .
- Bank guarantee. Guaranteed certainty for project owners on work contract agreements that aim to support the smooth running of projects for the owners of Micro, Small and Medium Enterprises (MSMEs).