The human need for cash does indeed make them tempted to make direct online liquid loans which are now rife on the Internet. There are even some online loan services that only have a KTP without other supporting documents as applied by banks.
If you apply for a loan at a bank, you must prepare other documents such as KTP, salary slip, NPWP and credit card so that your application can be processed. That’s what makes many people who need emergency funds choose to apply for direct online loans without a second thought.
Even though the process is easy and not complicated, but you must be prepared to come up short to replace it. That is of course different if you apply for a loan at a bank, one of which is the KTA (Unsecured Loans)
Therefore, let’s find out the difference between direct liquid loans online and KTA so that you don’t regret it in the following days:
Direct online loans are liquid
Conditions for applying for a loan
- Prepare your KTP
- Latest photo of yourself
- Salary slip
- Account number
- Fill in the application form
If approved, the loan will go directly to your account within 24 working days.
Liquid direct online loans usually provide a loan ceiling starting from USD. 1 million – USD. 3 million with a tenor of 10-30 days.
The process is very fast and not complicated, but already know how much money you have to return? Come on, we count.
You need USD. 3 million for the cost of repairing your vehicle. You apply for a direct online loan liquid at one of the service providers on the internet, here’s the calculation:
- Loans: USD. 3,000,000
- Loan duration: 30 days
- Service fee (interest): USD 1,043,547
That means the amount you have to pay in the next month is the total loan + service fee / interest, which is USD . 4,043,547 .
For a 30-day loan, you have to pay 34.78 percent interest. Wow! Very big flower isn’t it?
Loans with KTA
KTA usually provides a larger loan amount starting from USD 5 million. Each bank has a different interest rate.
Let’s count how much must be paid if you borrow USD. 5 million.
- Total loan: USD 5,000,000
- Loan tenure: 12 months
- Interest per year: 10.5 percent (0.875 percent per month)
The amount you have to pay,
- Annual interest value: 10.5 percent x USD 5 million = USD 525 thousand
- Value of interest per month: USD 525 thousand: 12 = USD 43,750
- Installments per month: (loan principal: 12) + monthly interest rate = (USD 5 million: 12) + USD 43,750 = USD 460,416
This means that the total amount you have to pay is the principal loan + the annual interest rate of USD 5 million + USD 525 thousand = USD 5,525,000
You can see the difference in interest between these two loans per month. If the direct online loan is liquid you have to pay interest of up to 34.78 percent while the KTA has only 0.875 percent interest.
Online direct liquid loans are easy and not complicated. But you need to know that the debt is around 30-40 percent of income. If your salary is USD 5 million per month and you have to pay a debt of USD 4,043,547 in one month, then what about the other living expenses?
Therefore, before deciding to make a loan you should think carefully so as not to complicate you. May be useful!