INDONESIA CONSUMER LOAN INDONESIA PERSONAL LOAN
In Indonesia, a personal loan is defined by a funding facility that is granted through Indonesian banks and is dedicated the personal financial needs of an Indonesian consumer to fund his personal projects.
In Indonesia, a personal loans is not easy to get because it is not secured like a mortgage, and Indonesian personal loans depend on the bank, on the borrower income, and his credit rating or bank history as the better the credit score is and higher the borrower credit reputation is, the more money he will be able to borrow.
Indonesia, the personal loan is a general purpose loan that a borrower can use at his or her discretion for several objectives like consolidating debt or paying for expenses.
In Indonesia, personal loans are granted by several lenders including Indonesian banks under different terms and conditions and it is therefor advisable to always compare several personal loan offers prior taking a final decision.
In Indonesia, the private loan projection is just reflecting the rise in consumer behaviour which has made possible that private consumption in now accounting for more than 50% of the Indonesian GDP.
In Indonesia, they are two sorts of personal loans: fixed Instalment Loan and overdraft and this type of lending doesn’t require any collateral or security. Borrower doesn’t need to justify the purpose of the loan and its justification.