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Applying for a loan from the bank

How to apply for a loan from a good and correct bank for easy approval? This information is needed for those of you who want to take out a loan from a bank for the first time for specific needs. This method is usually used when it is difficult to borrow money from friends or relatives for personal reasons.
Financial institutions like banks are ready to help their customers when they need a loan. Despite this, there are still some prerequisites or processes that need to be performed first. For those who are doing the procedure for the first time, it can be quite difficult.

But stay calm because the following information may help you. Read carefully how to apply for a loan from a bank so that it can be easily approved it can benefit your financial situation.

How to apply for a loan from the bank

Meeting the requirements and following the process of borrowing from a bank is not difficult. All can be easily passed as long as you carefully ensure all kinds of needs.
For someone who has never done a credit process before, this can be a burden in itself. Not being familiar with this process is normal. That is the job of the cashier or the person in charge of guiding you through this process.

To have a more mature preparation and knowledge, consider some of the ways that can help you apply for a loan from the following bank.

1. Observe the requirements

Banks use requirements to ensure that the party lending money is authorized to process it or not. If you do not meet the submitted requirements, you have not followed the correct loan application steps.
Certainly, every bank has conditions that are adapted to the respective policies. But in general, some of these documents need to be secured before applying for a loan or loan from the bank. The document has the following form:

ID copy
Copy of income or payslip
Photocopy of the tax identification number
Photocopy savings book
Accompanying title documents (if required) such as BPKB or land and building certificates
Preparing these various documents can speed up the process of applying for your loan. The problem that often occurs is when you are in a hurry to prepare the above things. When you are in the bank, there are still forgotten documents that complicate the process.

2. Check creditworthiness

When applying for a personal loan or personal loan, an unsecured loan (KTA), or a home ownership loan (KPR), the BI check of creditworthiness must be considered.

Customers who wish to borrow money are given a score based on their past collection records. The scores are divided into several categories, namely:

Rating 1: Ongoing credit, because the customer always meets his payment obligations every month with the installments plus interest until repayment, without ever being in arrears.

Grade 2: TPF Credit or Special Mention Credit, meaning the customer is 1-90 days in arrears on credit installments.

Score 3: Long-Term Loan, this score is achieved when the customer is 91-120 days in arrears on loan installments.

Score 4: Doubtful Credit, meaning the customer is 121-180 days in arrears on credit payments.

Score 5: Bad Credit, this score indicates that the customer is more than 180 days behind on credit payments.

For those who have previously taken out a loan and wish to do so again, you must check this score again online at the SLIK application page or by visiting the OJK office directly.

Then those of you who have never taken out a loan or applied for any form of credit don’t need this information.

3. Determine the loan amount

Knowing how much money you want to borrow from the bank can make this process easier. Normally, the bank will assess your ability to make loan payments. If your monthly income is only 7 million per month then it is difficult to get a 700 million loan.
You can get more information about this from the bank, but first, realistically determine how much credit you need.

4. Choose a loan term

The term is a loan term determined according to the agreement between the debtor (borrower) and the creditor (the party lending money). A long term can make your monthly payments easier.
Banks usually offer their customers long terms. In order not to be mistaken, calculate how much your expenses will cost in a month. Pay attention to how much money can be put aside to pay off this loan installment.

Don’t let anyone pick a tenor who can weigh on your installment payments. This lowers your credit score, making it more difficult to apply for another loan later.

5. Get to know the different forms of credit

There are different types of bank loans. If you need credit to buy a home, then there’s a mortgage. Then there are loans for business capital or personal loans. Determine what type of loan is needed so you don’t make a mistake later. You can also learn various things about these loans so that you can better understand the terms and installment programs.

You can easily apply for a loan from an approved bank. The above tips are very useful if you can apply them well.

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