Money loans the right solution online vs conventional
The changes in the current era have created many emerging solutions for money loans in different regions. In fact, it’s not uncommon for loan offers to appear via SMS sent to your phone number. The offer also offers a variety of interest rates from the lowest to the highest.
In difficult times, you will often find a way to borrow money, albeit through close friends to a lending service company. This method, according to you, can help in the hope of returning it as soon as you get a replacement. Although it doesn’t bloom, it’s possible that your good relationship has been damaged.
Not only when you need money for your personality, when you want to open a new business or business, of course you need money and capital in the beginning. When this happens, you’re unlikely to borrow it from a friend because of the large amount that’s large enough. Then you will look for a large amount of borrowing.
Money becomes something that sustains life
Money is still often a problem for the community because of the many needs that need to be met. Then people will make great efforts to earn income to support their lives. Therefore, there is often the saying that money is the solution to many things.
But actually getting money by borrowing can be harmful if you can’t give it back right away. So now there are several loans that can be paid out quickly. The right solution money loans are even protected by large companies. At the moment there are at least two ways of borrowing that can be used, namely online and conventional.
Advantages and disadvantages of any lending method
Conventional loans are still used today, although many online loans have emerged. In the age of advanced technology, awareness is needed in development. The differences between each of these ways of borrowing will be explained based on their pros and cons.
To make a loan, the right solution, there are of course advantages and disadvantages of both that you need to know before you borrow. Conventional or manual loans mean coming directly to the place to make a loan.
You meet customer service or people serving in the place. Next, you will be asked about the amount of the loan needed and fill in the details according to the needs of the company. Later, your data will be linked to an identity card to indicate whether you can get a loan or not.
Usually, companies that offer conventional loan services are BANKS. The advantage of conventional money loans is the clear inauguration of the company and the absence of the need to use tools to provide loans. But what is missing is that many eventually switch to online loans.
The disadvantage of this conventional loan is the advantage of online loans. One of them is a quick process, so youdon’t have to spend time waiting in line on site. The time you use is not wasted. This benefit is especially felt when there is a sudden need.
Therefore, online loans are often referred to as money loans the right solution compared to conventional methods. Apart from the fact that it is a quick process and can be done anywhere, online loans also have advantages in terms of very simple requirements. You need to prepare some photos of your ID.
How to make online and conventional money loans
Even though the two methods have their own drawbacks and advantages, but you still need to adjust the needs you can. However, since you can currently borrow more easily online, it never hurts to try a few steps to borrow money online, as below.
- Choose a trusted application
The first important step you need to do is to choose a trusted online lending application. Not all applications already have official permission and fall under the OJK. Therefore, make sure that the application or company where you borrow already has an official OJK logo.
- Download on smartphone
In addition, when you have chosen, you are required to download the application on your smartphone. As a loan, the right solution is to ensure that the interest rate of the loan in that place is also low, so that you have no trouble paying it.
- Enter your identity
The third step if the application is already installed, open the application and fill in your details or identity. Make sure everything is filled in correctly and completely. This is intended to prevent possible errors that can occur and be rejected by the company instead.
Once you’ve finished filling out the identity and have been confirmed by the application developer, make the loan with the amount you specified and the time for a full refund. In this step, it is very important to pay attention to it and not underestimate it.
- Confirmation from the company that made the application
If you are sure of the amount and time of the loan, you will be asked to complete the steps and wait for confirmation from the company. Some companies take a little longer to confirm due to the large number of requests.
However, some companies can send a response to the request to borrow the money you’re sending within hours and even minutes.
Considering the Use of Loans as the Right Solution
Before you perform the above steps to borrow money, there are several considerations that you should pay attention to when making a loan, the right solution using an application on your smartphone or conventionally. The considerations are as follows.
First of all, in addition to the purpose for borrowing, you need to take into account the payment plan that you need to create. Try to compare the income you get with the time of payment of the loan. Both online and conventional means must take this into account in equal measure.
Usually, at the beginning of the loan money is the right solution you need to report profit and loss, cash flow statement, to be able to analyze the work and business situation you are currently living as a form of guarantee for the company.
- Loan amount
Secondly, there is the amount of the loans. It’s not because of the ease of borrowing that you end up getting and not carefully considering the nominal of your loan. You can borrow the right amount and do not have to exaggerate, because it will be even heavier for you when returning it.
- Onderpand of garantie
The last of the money loans is the right solution that is no less important to consider collateral or collateral. A conventional BANK or an online loan requires collateral or collateral as evidence. You should not underestimate this because there are often rejections due to not complying with the guarantees you give.
However, not a few can also provide unsecured loans because of the small amount of loans. Usually, the loan guarantee requested must be in line with the loan nominally to avoid the possibility of the borrower of the funds being paid late or not at all.
When you borrow both conventionally and online, you need to make sure that everything is safe and doesn’t make mistakes. That’s why it’s a good idea to find the best information about the right loan solution you choose.