Brilio.net - Finance is a very vital part of everyday life. Understanding how to manage finances well and responsibly will help someone make better decisions regarding savings and loans. One of them is understanding financial issues in terms of savings and loans at the bank. As a financial institution, banks are a means for people to manage finances such as saving, withdrawing and borrowing money when they want to have business capital.
Apart from that, economic difficulties can also be overcome by borrowing money from the bank. This is important to understand because sometimes you need additional funds to overcome difficult economic conditions. However, borrowing money from a bank also requires a good understanding of personal finances so you don't fall into long-term debt problems.
Savings and loans are an integral part of everyday life. By understanding how to borrow money wisely, a person can maintain financial stability and avoid unwanted financial problems. Therefore, a good understanding of economics and finance is very important when it comes to savings and loans.
So, for those of you who might be confused and looking for how to borrow money from the bank, here brilio.net will tell you how. Summarized from various sources on Wednesday (7/2), read in full!
Types of money loans at banks
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Before you know how to borrow money from a bank, it's a good idea to first understand the types of loans from banks. There are several types of money loans that can be obtained at banks, including:
1. Secured Loans (collateral)
This loan requires collateral in the form of assets such as a house, vehicle or land. The interest rate and tenor are usually lower than unsecured loans.
2. Unsecured Credit (KTA)
This loan does not require collateral and can be used for any purpose. The interest rates and tenors tend to be higher than secured loans.
The difference in interest rates and tenors between secured loans and KTA lies in the interest rate. Secured loans have lower interest and longer tenors. Meanwhile KTA has a higher interest rate and shorter tenor.
It is important to note that the tenor is the time period for completing the installments that must be fulfilled before the maturity date. Meanwhile, interest is a service fee for the use of money or capital, which is paid at a certain time based on provisions or agreements. Generally interest is expressed as a percentage of the principal capital.
By understanding the types of money loans at banks, it can help someone to choose a loan that suits their needs and ability to repay it.
How to borrow money at the bank
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So, if you already understand the types of loans at the bank, let's find out the steps to borrow money at the bank. Here are the steps to borrow money from the bank:
1. Determine the desired loan amount and term.
2. Choose a bank that suits your needs and abilities.
3. Submit a loan application to the bank in accordance with the established procedures.
General requirements for borrowing money from a bank include:
- Prove the ability to repay the loan
- Have collateral (in the form of assets/collateral)
- Have valid personal identity
To prepare the required documents, you need to prepare:
- Valid KTP
- Income statement or pay slip
- Business certificate (if self-employed)
- Asset/collateral documents that will be used as collateral (guarantee).
By fulfilling the requirements and preparing the required documents, you can borrow money from the bank according to your abilities and needs.
Tips for borrowing money from the bank to make it easy
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1. Bank research
Before borrowing money, find out which bank offers the easiest and fastest interest rates and loan terms. Compare several banks to get the best choice.
2. Prepare documents
Make sure you have the documents required by the bank, such as KTP, NPWP, pay slip, or property documents as collateral. Preparing documents will speed up the loan application process.
3. Understand your needs
Before applying for a loan, clearly determine your needs and how much money you want to borrow. This helps banks to process loans more quickly.
4. Don't borrow too much
Make sure the loan amount you apply for is in accordance with your financial capabilities. Don't borrow too much money so as not to burden your finances in the future.
5. Communication with the bank
If you have questions or need further information, don't hesitate to ask the bank officer for details. Being open and honest with bank officers will help make the loan application process easier and faster.