How to make online loans liquid instantly without hassle
Currently, it is easier for people to get loans with the existence of online loan services. Submissions that can be done online, easy requirements and the absence of collateral are advantages of online loans. People who need fast funds can apply for loans easily in the money loan application.
However, behind the convenience and speed, often the loans submitted by consumers fail or even have to wait days until the loan is approved. Actually there are various reasons that cause your loan to be disapproved or the approval process is slow. Here are 7 factors that cause slow defrosting and their solutions:
1. The data and documents you provide are incomplete or not original
Usually online loan will ask consumers to upload data and documents such as ID cards, NPWP, salary slips and so on. If you provide false and incomplete data and documents, your loan application will automatically fail.
Solution:
Before borrowing find out what data and documents are needed. Because the loan application is made through an online application, you will be asked to upload documents in photo or scan format.
Make sure that the photo of the document is clear and not blurry. Even though the data you have provided is correct and complete, if the photo of the document is blurry and cannot be read, the submission has the potential to fail.
Have an ID card
Because an ID card is a mandatory document, make sure you already have an ID card. The ID that must be used is the electronic ID card or e-KTP.
If the KTP you sent is not an e-KTP, it is likely that the loan application will fail. Why do you need an e-KTP? Because with e-KTP loan service providers can access your complete personal data.
Have NPWP
TIN is also a document that you must have. Your TIN will show that you are a worker who pays taxes on time. Having a TIN will increase the trust of 24-hour online loan companies in you.
The TIN is also data related to your credit history because all loan application activities will be recorded on the TIN.
2. Bad credit history data
Credit history is one of the important factors that determine whether your loan application is rejected or accepted. Nearly 50% of the rejected loans were caused by the customer having a bad credit history.
What is a credit history? Credit history is a track record of loans you've ever done, either at a bank or other loan service providers.
If in your previous loan history you like to be in arrears on loan repayments or even don't pay, you will automatically see that your credit history data will be bad.
Solution:
In order for your loan to be approved and disbursed quickly, before applying, you must ensure that your credit history is clean. This means that you do not have arrears of unpaid installments, you should pay off your loan first so that your credit history is clean and your online loan application can be approved.
The credit history referred to here is all the types of loans that you have, such as vehicle loan installments, multipurpose loans, unsecured loans at banks and others.
Online loan service providers will not trust you if you still have a lot of arrears that have not been paid off. If the other installments can't be paid off, how will you be able to pay the online loan installments. This also minimizes the risk of customers failing to pay.
So if you feel that you have provided complete and correct data and documents but the loan was not approved, it could be the reason because your loan history is bad.
3. Does not meet the requirements
There are several requirements that are regulated by online loan services as customer criteria. Generally the required requirements are:
- Indonesian citizens
- 21 to 55 years old
- Have proof of original identity in the form of e-KTP
- Have a job or income
If you do not meet the requirements above, your loan will not automatically be approved.
Solution:
Make sure when you apply for a loan you meet the required criteria. That's why you will be asked to send a photo of your TIN which is useful to ensure that you already have a job and an income.
4. Your domicile is outside the service area
Generally, not all regions in Indonesia have been served by online loan service providers. So if you are outside the automatic service area, your loan application will fail.
Solution:
Make sure before applying for a domicile loan you enter the area served by the online loan application used.
Unreachable phone number
Online loan refusals can also occur because the phone number you provide cannot be contacted. Usually the service provider will verify through your phone number or the emergency contact number you provided. This is done so that the loan provider contact is to confirm your data.
Solution:
Make sure you provide an active phone number so you can be contacted at any time. You are also required to fill in emergency contact data clearly and correctly because there are several loan service providers who will also confirm via emergency contacts.
6. Apply for a loan according to your ability to pay
Even though the loan application provides high loan products, for example, you can borrow up to 10 million, it doesn't mean you can apply for a loan as high as possible.
Because the loan service provider will analyze your ability to pay off the loan debt. The ability to pay off debt will be seen from your work and monthly income.If your income is still relatively small but you apply for a loan that is too large, it is likely that your loan will be rejected. Borrowers really care about their potential customers. They will calculate whether your monthly income after being deducted by living expenses and daily needs is still enough to pay the loan installments. This is done to anticipate the risk of consumers failing to pay.
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