Although they have often heard the word multipurpose credit, in fact there are still many people who fail to understand the financial products. Sounds similar to unsecured loans but the truth is very different.
Gibbi, whose name is multipurpose credit certainly needs assets as collateral. But not only just guarantee it, then the loan can be disbursed. There is also a survey and appraisal process before lenders agree to disburse funds.
Now, among the many assets that can be guaranteed,
- No need to process appraisal
Like the one described above, applying for a multipurpose loan will pass the survey and appraisal process. For example you want to pledge home documents, banks or financial institutions will do an appraisal to find out the value of collateral.
I need more funds, while BPKB is unemployed. Yes why not
Now if you guarantee the BPKB of the vehicle, you will only go through the survey process. Usually the maximum age of a vehicle that is allowed is 5 years. The value of loans that can be liquid is 80% of the market value of the vehicle.
This appraisal is also not free. There are fees that must be paid by the customer. The amount depends on the agreement with the bank / financial institution.
- Faster process
The multipurpose credit process is classified as faster compared to unsecured loans which can take 1-2 weeks. The average multipurpose credit process takes 3-5 business days. Especially if there is no appraisal process, it can be faster.
- The vehicle remains in the hands of the customer
You don’t need to worry. During the loan process, the vehicle remains in the hands of the customer. So only BPKB is in the hands of creditors. That way your productivity won’t be interrupted.
Don’t just choose a credit institution.
- Secure papers
There are times when we like to be careless in storing securities. It is not possible even disappear. Not to mention if for example moving house or being affected by disaster. During the multipurpose loan period, the securities we guarantee will be kept safe.
- Lower interest
Many banks and credit institutions offer multipurpose loans at lower rates than other products. For example, BFI Multifinance offers 1% interest per month. Lower than interest on credit cards that can be above 2% right?
- No need for a credit card
Just because we don’t have a credit card,
We fail to apply for credit without collateral. Not so the story with multipurpose credit. As long as you have assets that are pledged as collateral, a credit card will not be needed. No need to bother anymore.
Whatever form of credit, everything must be managed well. Even if you need to apply for credit for consumptive needs, make sure the installments do not interfere with finances. With a fairly long period of time (can be 1-5 years), you certainly need a commitment to pay off the loan.