Talking about loan problems, then you are certainly familiar with the term fintech. The development of the financial services industry using a technology base in Indonesia is currently making it easier for people to carry out various types of financial transaction activities, such as saving, transferring or making loans online which are increasingly in demand today.
In the past, most of the sources of loan funds were done through loans from friends or banks, nowadays many people rely more on using fintech companies. Of the various types of fintech that are already available, there is one that is quite popular in many communities, namely Payday Loans Online.
What are Payday Loans Online?
Payday Loans Online are usually known as salary loans, namely a number of loans here given by the debtor in a relatively short period of time. These loans are generally of small value. In addition, this type of loan will generally be given to help you cover sudden costs before payday comes.
This loan is included in the type of loan that does not require collateral, so it is only natural that the nominal loan offered is not too large. The range is from one million to 3 million rupiah. As for the period until it is finally paid off, which is between 16 to 50 days.
Payday Loans Online are quite numerous and popular because the loan money submitted can be obtained in just a matter of hours or at most one day. But it is important to note, because the loan is not included in a loan that uses collateral, the applicable interest is indeed slightly higher.
Payday Loans Online itself offers daily interest starting from 0.5% even up to 180% every year. When the creditor agrees to make a cash loan, it means that the service provider believes that you as a prospective debtor can make a return in accordance with the agreed time.
If the payment history by the borrower is fairly good, then Payday Loans Online may increase the loan amount when the borrower makes an application at a later time. Payday Loans Online do tend to be in demand because getting a loan only takes a very fast time, besides that the requirements are fairly easy.
While the loan that you will take can be repaid until later your salary comes out. The loan will provide convenience in registering online. After here you submit an application using the Payday Loans Online website, then later you will get information about whether your application was accepted or not.
Shortly after completing the form filling process, a notification will be sent to your account in just a short time. With the application or loan process done online, of course it will be easier because here you don’t need to directly visit the service provider’s office. To get a Payday Loans Online loan is relatively easy, considering the conditions that you must meet are not too complicated. The most important requirement here is a stable source of income, where the income you have must be consistent and verifiable. In addition, this loan process does not require collateral or collateral.