Quick Easy Payday Loans Bad Credit -Hudsonberkshireexperience.Com Uncategorized Unsecured Loans (KTA), Do You Know The 5 Fees Other Than Interest Yet?

Unsecured Loans (KTA), Do You Know The 5 Fees Other Than Interest Yet?

 

Unsecured Loans (KTA) is one of the solutions that most people choose when pressed for needs.

Well, before you apply for a KTA loan at the bank. You should also consider other costs besides the interest to be borne.

Therefore it is recommended that you stay alert and not be careless. Moreover, this is a matter of debt to the bank. You don’t want it if you end up in court because you can’t pay debts.

The reason is a number of cases where when they were going to make installment payments in the last year, it turned out that the calculation of the remaining debt was different from the bank.

After searching, it turns out there are other costs of the KTA that have been missed from the count. You can’t complicate it because it’s clearly written in the KTA information data.

If that’s the case, you’re the one who lost? Therefore, before deciding to sign a contract with a bank, you should know first some of the costs other than interest from the following Unsecured Loans:

1. Provision / administrative costs

1. Provision / administrative costs

 

Provision or administrative fees are generally directly deducted from the loan ceiling when your KTA application is received by the bank.

Each bank has a different administrative fee. But usually ranges from 1 percent to 4 percent of the ceiling .

Example:

  • Ceiling: $ 10 million
  • Provision fee: 3 percent

So the amount of KTA funds the customer will receive is $ 9.7 million.

But you need to know if there are banks that offer small KTA interest rates, but in fact the costs of the provision are large. Therefore, beware of the cost of this one yes.

2. Insurance costs

2. Insurance costs

 

For unsecured credit insurance costs are optional, may or may not be taken. If the customer picks up and dies, the heir will not be asked to continue the installments until they are paid off.

However, if not taken and the customer dies, the heir is obliged to pay off the loan.

Although you have to spend more money for insurance costs, but most importantly you do not charge debt to your family when you die.

And if a family member takes a KTA loan, you should see the contract whether he uses insurance or not. So if there is an unwanted event, you already know what to do.

3. Annual fees

3. Annual fees

 

Other Unsecured Credit Costs that you will bear are annual fees. Usually this fee is charged per year based on the loan period.

The amount of annual fees of each bank also varies. There are even banks that do not set annual fees to their customers.

However, annual fees set by banks generally range from 1 percent to 2 percent of the loan ceiling for the first year. And in the following year the nominal is fixed, for example $ 50 thousand.

Example:

  • Ceiling: $ 10 million
  • Annual fee: 2% in the first year and IDR 50 thousand for the second year and so on
  • Payment period: 2 years

So the annual fee in the first year is $ 10 million x 2 percent = $ 200 thousand plus the amount of installments in the 12th month.

Whereas in the following year you are only required to pay a yearly fee of USD 50,000.

4. Late fee

Don’t be surprised to see your KTA bill explode this month because the previous month was late paying.

The amount of the late fee is usually determined by a certain nominal, for example $ 100,000.

Because it is recommended that you always pay on time and not be late so as to avoid the costs are not mandatory but still make this sneaky.

5. The cost of accelerating repayment

5. The cost of accelerating repayment

 

Suddenly we can get a windfall from the office and remember that there is still 2 months of KTA debt left. Instead of spending money to spend, you also intend to pay off the remaining debt.

Well, if you want to pay off the installments prematurely, the bank will usually provide a penalty fee that ranges from 5-6 percent of the remaining bill.

Example:

  • Ceiling: $ 10 million
  • Penalty fee: 5 percent
  • Remaining 2 months debt: IDR 3 million

Then, you have to pay $ 3,150,000, ie the remaining debt x penalty fee ($ 3 million x 5 percent).

Here it is, some costs that you must pay attention to when deciding to take KTA. Although small, but still the name of the cost will add to your burden.

In addition, it is wise to determine the KTA from which bank you take. Do not be pressured because of the need to actually make you owe debt. 

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