A1AppStudio – When applying for a loan you would have to go through the stage of credit scoring first. The goal is that the filing you can be approved. Unfortunately, there are still many who have yet to understand what the hell is that credit scoring.
Yes, credit scoring is the process of assessment of the profile of the borrower which is done by the lender. Whether the borrower is worthy of funding or not.
Well, so the loan you received let’s first understand about credit scoring and how to tips to make the submission you are approved.
What is credit scoring?
Credit scoring or credit scoring is a system which is applied by a financial institution or bank to assess the creditworthiness of borrowers who apply for a loan.
In this process, the profile of a potential borrower will be reviewed or analyzed, starting from the basic profile as the data themselves, age, employment status, position, tenure, salary, marital status, burden borne by the family, the job of a spouse (husband/wife) and others.
Such information will then be verified with a number of requirements documents that must be attached by the prospective borrower.
After that, the lender will analyze the transaction history of the borrower, such as obedience pay the mortgage, how often in arrears, does it still have a load of credit, how much credit you’ve ever owned, and others.
The results of the analysis that will then be determined whether you deserve a loan or not, how the amount of the approved loan, how the amount of interest, and how long the term of the loan.
As an illustration, you can see the distribution of tags in the system credit score, Bank Indonesia BI checking here:
- Score 1 -> Credit Smoothly. The borrower’s obligations installment perfectly.
- Score 2 -> Credit to the Special Attention (DPK). Installment borrowers recorded having arrears between 1-90 days.
- Score 3 -> Credit Is Not Smooth. Installment borrowers recorded having arrears between 91-120 days
- Score 4 -> Credit A Doubt. Installment borrowers recorded having arrears between 121-180 days.
- Score 5 -> Bad Credit. Installment borrowers recorded jammed and delinquent more than 180 days.
Tips to loan approved
Here are a few to loan you can qualify for credit scoring that can get the loan the cost of education.
- To Meet All Requirements
There are several requirements that you must meet, among others.
Minimum age of 21 years and maximum 60 years at the end of the installment.
The status of CITIZENS and domiciled in Indonesia, is obliged to have an ID card.
The borrower can on behalf of yourself or the family in the families.
Already registered as students at an educational institution.
Submission of the loan could not exceed the bills of educational institutions.
Borrowers are already working and have an income of at least 3 million.
The job of the borrower can be permanent employees, contract employees* employees, employees of state enterprises, CIVIL servants, entrepreneurs, and freelance.
Eligible documents, namely: ID, Selfie KTP, KK, Account statement (last 3 months)/Salary Slip, proof of learners, bills of educational institutions, payment to the educational institution, a letter of the profession, the photo business & SIUP/TDP if the borrower is a self-employed (a loan of 10 million and above), TIN (loans 30 million and above), etc.
Make sure all of the above requirements you have to fulfill.
- Eligible Income
Related terms of income, you will not be problematic if you already have a minimum income of 3 million. However, if your income is too tight, the credit limit granted will usually be small.
Well, there are several ways that the profile of your worth can rise, the related problem of income, including the following:
You can use a system of joint income. So you ask the amount of your income with your partner (husband/wife).
You don’t have a partner? Additional income from an online business or side job you can ask as a support main income.
If you under the terms and can not meet the above ways, you can ask for one of the families in one household with a profile corresponding to become a guarantor.
The terms of this income into great consideration as it relates to the ability to pay the loan. That the application for a loan easy approved, show that you have the capacity to repay the loan.
- Profile of the Borrower Clean
The history of credit or borrowing is one of the things that is so important consideration to determine the approval of the loan application.
Well, related to it, this can’t be addressed in a short time. Pinters can be more easily got the approval if the history of the loan is positive.
Therefore, be sure to obey meet the obligation to pay the credit as this will affect the credit application the next. If Pinters still have a load of credit, get rid of everything. After it’s paid off, try to apply for a loan to Pintek.
- Able to Pay 20% of the Bill
So the burden of credit is not too large and as a proof that the Pinters have the ability to pay, you can pay 20% of the total bill before the disbursement of funds from the Pintek.
Just calm down, the entire bill will be repaid with a loan from the Pintek. You will pay load installment 1 month after thawing.