The increasing online lending application in Indonesia has also opened the door for easy fraud. Good Friend as a user needs to be alert and cautious in using trusted online applications.

During 2018 alone, It has blocked more than 700 illegal online lending services that have proven to harm its users by delaying strangling interest, distributing its users’ data or by abusive billing.

Even though it looks great and looks scary, there are still many trusted online loan applications that can make Smart Talks take advantage!

Services are registered with OJK

All you need to do as a user of a smart online loan application is to check if the online loan application to use is already registered with the OJK.

Determining whether an online loan application is to be used is a must before using the online loan service.

Light conditions

Trusted online lending applications are usually easy, rather than frustrating to their users.

The requirements set by trusted online loan applications tend to be light.

For example, for account signup, online lending applications require only simple documents such as a government-issued ID, NPP or payslip.

There are even trusted online loan applications that require only a government ID for the registration process.

In order to get a loan, Good Dude doesn’t need to lend any guarantees. This is called the Credit Unless Credit system.

Fair and transparent loans

Good online lending applications focus on helping their users by providing loans when they have an urgent need.

Therefore, trusted online lending applications usually delay the lending of their lenders to their users.

In addition, the loans provided will be listed on the submission page. So the borrower knows how much they will have to pay.

In addition to interest, it’s only natural that some trusted online loan applications also have service fees. These fees are also included on the landing page so the borrower can find out in advance before filing.

Clear loan terms

Trusted online lending applications also explicitly provide information about loan terms, terms of service and privacy policies.

These conditions are like a contract between the service provider and Good Friend as the borrower.

Therefore Good Dudes need to understand the various conditions mentioned by online lending applications and not use services that they find to be detrimental.

It’s like contacting a cell phone for billing, outside of the emergency contacts already listed.

Positive reviews

Consumers typically have their own sentiments on the online loan application services that they regularly post on the Google Play Store comments column and on the associated social media pages.

This user review may be helpful information before Good Friend before using his service.

Trusted online loan applications can easily be recognized by rating on the Google Play Store. In addition, if many users provide positive reviews about the online loan application service, it is possible that the online loan service is reliable.

Have several channels to contact

One of the criteria of a reliable online loan application is the ease of access to communication with its service manager.

Online lending applications generally provide call centers as a means of communication between users and Customer Service. So far, the call center available for most new fintech companies is available during business hours and days.

In addition to call centers, online lending applications typically also have various social media accounts that can be used as a means of communication.

The process is fast and easy

Reliable online lending applications also offer an easy process, from registration, application to repayment.

The speed of the process also determines whether the online loan application is reliable or not.

High-quality online loan applications do not take too long in each process. Up to 24 hours for account verification, loan approval, or disbursement of the loan.

The APRC, or annual percentage rate of charge, is the most important indicator of the cost of a loan. It gives a percentage of the total amount owed by the client within one year and thus allows the loan to be assessed for profitability.

What is the formula for calculating the APRC on consumer credit and what does the term cover?

In the case of bank and non-bank loans, it is difficult to compare individual offers on the basis of interest rates only. By signing the contract, the client undertakes to pay many other bank charges:

• for concluding the contract
• account maintenance
• for credit management
• for the first increased installment
• for transfers of funds
• etc.

When concluding a consumer loan it is very important to know the APRC, which includes both interest rates and other additional charges.

The formula for calculating the APRC

The annual percentage rate of charge can be calculated using the following formula :

Where:

• S is the total present value of cash flows
• A k is the sum of all cash flows
• t k is the time elapsed since granting the loan (expressed in years)
• X is the annual percentage rate of charge

In this equation, we look for X (APR) such that S (total present value of cash flows) is zero.

How to calculate APR – example

Calculating the above equation would be a lengthy process. Therefore it is better to use a calculator for calculating the APR, which will greatly facilitate the work. It is possible to find out the APR easily and quickly in a well-arranged APR calculator on the Good Finance’s website.

Here are some examples for calculating the APRC:

The first two examples are ordinary bank loans, example number 3 is a non-bank microloan.

APR calculation – example 1:

• Loan amount: 100 000 USD
• Interest rate: 11%
• Number of installments: 36
• Loan fee: USD 1,000
• Monthly payment: 3 274 USD

The annual percentage rate of charge, in this case, will be 12.4%.

APR calculation – example 2:

• Loan amount: 150 000 USD
• Interest rate: 9,9%
• Number of installments: 60
• Monthly payment: 3 180 USD

The annual percentage rate of charge, in this case, will be 10.4%.

APR calculation – example 3:

• Loan amount: USD 9,000
• Interest rate: 69%
• Number of installments: 9
• Monthly installment: USD 1,000

The annual percentage rate of charge, in this case, will be 97.4%.

Under the Consumer Credit Act, each lender is obliged to inform the APRC of the annual amount. This is the most important parameter that a loan applicant should follow when deciding between individual offers of banking or non-banking companies, as it indicates the actual price the client will pay for the loan as a result.

Loans and Loans – Termination, Replacement, Debt Restructuring, Borrowers, Lenders, Replacement, Debt Restructuring Learn more about terminating debt restructuring loans and related problems with loan settlement and early repayment. Getting a loan for a premature rescheduling despite poor credit rating or unfavorable Credit bureau that it is financially scarce, has certainly experienced everyone. When a loan for a construction loan expires, the borrower has the opportunity to reschedule the loan. There are many different ways to reschedule a loan. The earmarked loans are usually given on more favorable terms, so that in this case a precise examination of the savings is required.

Loan application to the house bank is unnecessary 

What causes you problems with home loans Premature debt restructuring? Would you like a loan to finance necessary repairs or purchases such as mobile phones, holidays or cars? How to easily get a cheap loan and at the same time avoid getting into one of the many costly housing loan loans shows you how to reschedule early.

However, it is not for everyone, relatives or friends to request a “home loan early rescheduling”. A loan application to the house bank is unnecessary because of the poor creditworthiness or a Credit bureau entry. With many options you can also have a loan with miserable credit and no Credit bureau credit report.

First and foremost, the client turns to reputable financial intermediaries who, despite their negative creditworthiness or lack of creditworthiness, obtain loans in close cooperation with international financial institutions. The intermediary essentially helps to find a suitable loan with a major bank in Germany or abroad.

Due to the intensive relations with smaller, smaller banks, which are maintained by many intermediaries, we have good prospects of achieving more favorable conditions for mortgage lending. Unlike large credit institutions, where the loan approval process is almost exclusively computerized, every case is reviewed case by case. In contrast, for existing banks a loan application for home loans a premature debt rescheduling is usually inconclusive from the outset.

There are no experienced trainers on issues such as the early rescheduling of home loans. For home loans Early debt restructuring, a respected intermediary will always pick up on your concerns. The popularity of the internet among consumers to lend money from foreign banks is increasing, which means that the domestic financial institution is losing less and less weight.

Therefore, an inadequate credit rating or a negative entry in the Credit bureau with the topic of mortgage lending early debt rescheduling plays only a minor role. Online loans are brokered, which are usually issued by Swiss banks. It is obvious that this particular group of people has a particularly difficult time to reschedule home loans.

Repayment amounts of the loan

Private individuals who need a loan because they are in financial distress often have a hard time. Bad creditworthiness or indebtedness substantially reduces the chances of financing. It is a loan from a Swiss financial service provider. This is particularly advantageous when it comes to mortgage lending.

Of course, it is also not possible to get a loan without a credit check and various securities and income statements from Swiss financial institutions. However, if you have a sufficiently secured credit rating and the entry into the Credit bureau is the only financing problem, the Swiss loan offers a real possibility for home loans Early debt restructuring. What to consider in home loans Early debt restructuring?

As a borrower, make sure that the monthly installments of the repayment amounts of the loan are not too high. In addition, the loan should be as variable as possible. In all these things, one can rightly speak of a favorable financing option, for example, in home loans and answering questions: Early rescheduling. Make sure, however, that your loan as self-employed person, pensioner, pupil, student, unemployed person, employee or apprentice is in the way:

Anyone aiming for early rescheduling with regard to the housing loan issue should as a rule measure the expenses incurred as precisely as possible from the outset. If possible, the required amount should not exceed the planned limit. The top priority for a planned project is to correctly assess the financial position and then calculate the loan amount.

In particular, this does not concern the award of home loans. For example, the accurate recording of your own expenses every week is a valuable help: Every day again, how much time has been spent on what is recorded. This has the advantage that it can be estimated on the one hand, where there is still savings potential and on the other hand, the correct loan rate can be estimated relatively precisely.

It is important to be honest, careful and correct with all the information about your creditworthiness and your own financial condition – especially when it comes to home loans, early debt restructuring, and accurate, meticulous and absolute honesty with all the information about your creditworthiness and your own financial condition is. Only in this way can a precise and serious reflection of one’s own financial resources be drawn, which can always have an advantageous effect on the chance of an express loan or an instant loan.

Credit cards are a form of cash replacement payment card issued by a bank to facilitate customers’ transactions. Most people will be very happy when you first receive your credit card, as it will help you with certain needs.

When you get a credit card the various plans to use it begin to come to mind. But, of course, it’s not far from shopping, eating out at a restaurant, or buying something you’ve always been craving. Things like this come to mind and make it fun. Getting a credit card for the first time seems like a daunting struggle and ends with fun even with a few friends or co-workers.

Even if a credit card has a lot of facilities, you should use it wisely. If you misuse it, you may fall into a deep debt gap. Worse yet, it can result in total bankruptcy so your financial situation is ruined, of course, you don’t want that to happen.

For that, you have to be smart about using a credit card. What are some things to keep in mind before applying for a credit card?

Credit Cards and How to Use It Wisely

Before you apply for a credit card, it’s a good idea to know how to keep your credit card charge low and don’t forget to use it. Here’s how to use your credit card wisely, including:

First, you need to set a monthly shopping buffet, this one should be available for you to have a benchmark for financial security. For example, earning $ 10 million, you can set aside $ 4 million to save, and then the remaining 6 million you can spend on shopping, including by using a credit card.

Credit card shopping should also be limited. In this case, the bank has helped to set a limit. But you should also set your own limit below the bank limit. To learn more about using credit cards for shopping.

Understand the Terms and Conditions

Understanding the terms and conditions is the most overlooked. While the terms and conditions need to be read and understood carefully in order to avoid any misunderstandings in the future. Many cases in the field of credit card owners have scratched the surface of writing letters to the mass media because they feel the burden of “stealth fees” on interest rates. Whereas the calculation of interest is in accordance with the terms of the bank.

Also, make sure we know the additional costs you have to pay, such as late fees, withdrawal fees, and other costs. That way, you can think twice before using a credit card for the extra expense.

As Possible as Full Payments

While you have the option of paying a minimum of 10 percent of your total bill, make a full payment every month. This is useful for maintaining cash flow or cash flow in your account.

The minimum payment will lead to a larger charge next month. Because there are flowers that can be counted too big. It would be dangerous to pay the minimum amount each month. This means that we are in danger of losing ourselves by continuing to accumulate debt.

Pay your bills

Most credit card users just pay the bill once they get a letter from the bank. They should check the charges first. Knowing that there is a transaction fee that you don’t make but charge in your bill.

By being careful, you are making sure you do not fall victim to credit card abuse by others, especially internal banks. If you have any peculiarities in your charges, contact your bank immediately that day for a complaint.

Don’t Leave Outstanding Balance Unpaid

Outstanding balance comes up when you don’t pay the full bill in a month. Next month, an outstanding balance will appear. If you don’t pay in full that month, this debt will swell in the next month.

If you can’t pay this month’s bill, try paying it off the following month. Because the outstanding balance of interest can grow beyond the limit if left unpaid for long.