Getting a loan application refusal when you are hit by an urgent financial problem is often heartbreaking. However, this cannot be entirely blamed on the lender. As the party who lends money, the lender will first find out the profile of the prospective borrower and his ability to pay off the installments.
If it is considered to have a stable financial condition and is considered capable of returning loan funds smoothly, then the creditor will not think twice about lending the money. Conversely, if the debtor turns out to have problems with loan activities that have previously been submitted, the creditor is certainly reluctant to take risks.
Yes, this is what some people often don't realize when they decide to apply for a loan, including using a fast online loan service that is identical to light and simple terms. Although informationally you only need to fulfill several conditions, such as attaching an ID card, NPWP, and salary slip, in fact there are other provisions that may not be written.
Then, how to guarantee that an online loan application will be accepted and approved? Well, for those of you who are confused about why online loan applications are always rejected by fintech , first consider the following 4 anti-failure tips .
1. Make sure all the terms and conditions for applying for an online loan have been fulfilled
The first tip that guarantees that an online loan application will be accepted is to meet all the terms and conditions imposed by the service provider. Actually, these tips are not difficult to do. Moreover, online loans are known as loan products with very light and easy submission requirements.
Unfortunately, because of pressing financial problems, not a few people feel rushed when applying for an online loan . As a result, some terms and conditions escape attention so that they forget to be fulfilled.
It should be understood that you must fulfill all the required documents and fill in the data on the application form accurately. The reason is, these two things have a crucial influence on the verification process which will determine whether you are eligible for a loan or not. The more complete the documents you attach, including supporting files, the greater the potential for your loan application to be approved.
2. Check Your Credit Score and Loan History or Credit Card
The lender will definitely first see the credit score of the prospective customer and the history of the loan that has been done before. The goal is to determine whether the customer is eligible for a loan and will return the loan funds or not.
Logically, how can the lender approve the loan application if the prospective customer is often late in paying the installments? Moreover, if it is in arrears, the borrower is certainly worried that his loan activities will end up in the same way. Therefore, so that online loan applications are definitely approved, make it a habit to be disciplined in paying any credit installments you currently have and no loans are in arrears.
3. Adjust the Proposed Loan Fund with Financial Condition
No less important, online loans usually have a minimum income requirement to be submitted. In addition to the age and domicile requirements, this minimum salary requirement must also be met before registering for an online loan . Depending on the policy of each service, this salary requirement varies greatly.
This is why you are required to attach a payslip and an internet banking account as required documents when applying for an online loan . If you don't meet the minimum income requirements, don't be surprised if your credit application is rejected. On the other hand, if your income far exceeds the minimum requirement, you may be given a higher credit limit or limit .
4. Submit a Legal and Trusted P2P Lending Fintech
Finally, apply for an online loan from a trusted, legal, and OJK-registered fintech P2P lending company . Why is this important to do? Because the selection of this service has a major influence on your security and convenience in carrying out online loan activities in the future, including in terms of interest, late fees, to billing methods.
In addition, when compared to applying for credit at a bank or cooperative, P2P lending fintech has easy submission requirements and has an instant verification process. You can use the loan funds obtained from these services freely to meet any needs without exception.
However, keep managing online loan funds to meet urgent needs, cannot be delayed, and can increase productivity. If it is only used to meet consumer needs whose benefits are not clear, it is clear that online loans will only be a plunger for your finances.
