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Archive for June 28th, 2011

A reader asks, what the pros and cons and take a no fax payday loans which currently offered by banks to bloom. At first glance this question can be answered easily that as long as possible, we should borrow without collateral.

We all know has a credit with collateral constraints on one’s own collateral and market value.Someone who has only a collateral worth 20 million may not be able to obtain a loan greater than that figure, and those who have no fixed assets do not ever expect this credit.

In addition, loans with collateral carries the risk if borrowers can not repay the loan because the collateral will be sold forcibly by the bank to cover the losses.

Not so with credit without collateral that seemed available to everyone, whether they have the property fixed or not. unsecured loans also do not contain the risk in the eyes of the borrower in the absence of fixed assets to be auctioned debtor bank. View credit without collateral is always more profitable is not entirely correct. Not to misjudge this product, try to look at it from the bank.

If in the eyes of borrowers without collateral loans are relatively risky, in the eyes of lenders loans without collateral is very risky. Unless the government aid programs and philanthropy bank action to the weak economy and micro-businesses, it should have no bank willing to lend without security and bonding required.

The illustrations are, without collateral, to obtain a spread or net interest margin is the difference between lending rates and deposit rates by 6%, banks must be willing to face the possibility of 100% of the funds are not returned. Almost no other business the risk loss as high as this.Conceded money up to 100% this does not happen if the banks holding collateral. This is the main reason banks require collateral or guarantee for credit disalurkannya.

Realizing the magnitude of the risk of credit without collateral, it is reasonable to set a high interest bank loan for this, according to the credo of high risk, high return. One example of unsecured loans that are around us without the requirement of what is credit card debt. Did you notice if the flowers reach 3.5% -4% per month and dozens of percent credit logjam? Compared with others such as mortgage interest working capital loans, investment loans, mortgages, KPA, and motor vehicle loans from the same bank, the interest rate for this three to four times that.

Not to incriminate their clients, the maximum amount of unsecured credit that can be taken an employee is generally not more than 9 months net salary. Future installments and the amount of monthly installment is also restricted to a maximum of 5 years of no more than a third installment of the net salary.

In essence, such as credit card debt that rely on goodwill of the holder, credit without collateral is also based on the confidence of your bank and the institution where you work.

Tip from me, an additional premium for unsecured lending rates were too big. If you have access to loans with collateral, take out a loan without collateral is not smart.