Are you in need of funds but an online loan is rejected? It must be really painful isn't it, my Financial Friend? So that you don't feel pain the umpteenth time, follow the anti-fail tips discussed in the following article. Some of the reasons for the rejection of loan applications, namely incomplete documents, loans exceeding the limit, different borrower and account names, places of residence out of reach, and customers who cannot be contacted. In order not to be rejected, you must read and understand the terms, fill in your personal data clearly, pay attention to your credit history, determine a reasonable loan nominal, don't have problems with credit cards. My Financial friends, the presence of online loans or loans in the community seems to be a breath of fresh air. Because borrowing is considered to be an alternative as well as a solution to get funds quickly and easily when experiencing urgent or urgent financial constraints. It is not surprising that this condition has sparked the emergence of many other lending platforms that continue to increase. While on the lender side (lenders), there are already 630,003 entities or an increase of 156.83% yoy, and the number of borrowers (loan recipients) is 22,327,795 entities, up 267.17% yoy. Pinjol, also known as fintech peer to peer lending, is a form of innovation in the financial sector that utilizes technology to facilitate the process of borrowing and borrowing money. Because, through lending, it is possible for lenders and loan recipients to carry out lending and borrowing transactions without having to meet in person.
But this condition is beyond prediction.
But through a system that has been provided by fintech lending providers, it can be in the form of an application or website. This convenience is what attracts people to take advantage of loan services. Moreover, the requirements needed are fairly easy, namely salary slips and ID cards only. In contrast to the credit application process that we know so far, it is quite complicated with many requirements. Eits, make no mistake. Even though the conditions are easy, your loan application may still be rejected by the company, you know. The reasons are various, but most of the Pinjol do not provide details about the refusal because it is their policy. Moreover, each loan company has different criteria and requirements, so the reasons for refusal can also be different. A little story about my colleague's experience, let's say his name is Dika. At that time he needed money urgently for work needs. Because a laptop that is used everyday for work suddenly shuts down, aka totally dead. Indeed, the laptop has been accompanying Dika's career for a long time. But this condition is beyond prediction. Moreover, Dika is pursuing a work deadline that must be completed in the next few days.
But unfortunately, the application was rejected.
Dika plans to repair the laptop and at the same time wants to buy a new laptop because in terms of work it is already demanding to upgrade his laptop. Finally, he decided to borrow money from the lending platform because Dika himself did not have an ideal emergency fund. For the first time, Dika also tried to apply for an online loan by following the specified conditions. Dika's loan amount is Rp. 7 million, the result is that he calculates the range of costs needed to repair and buy a new laptop. But unfortunately, the application was rejected. Not wanting to give up, Dika tried to apply to several other lending platforms, and the result was the same. Dika was confused, then tried to ask several colleagues who had applied for a loan.
Investigating, it turns out that Dika's loan amount exceeds the nominal limit (limit) that the loan company can provide. A nominal that is greater than the limit will make the company reject the application. Now, for limit setting, the company basically adjusts it to the customer's financial capacity through the salary or credit history in question. Moreover, for borrowing does have a limit that tends to be smaller than banks or other financial institutions. Have you experienced something similar? So that you don't repeat the same mistakes, first find out some of the reasons for the refusal of loan applications on loan, let's go. Friend Finansialku, apart from the same reasons as Dika, there are several other reasons why online loans are often rejected. This is because this data is used by the company or the lending platform to avoid possible losses in the return process. Uploaded documents such as ID cards and salary slips must be clearly visible. If the document is incomplete and inaccurate, or the photo is sketchy, usually the company will provide information in the form of an official SMS or email for correction. A good company will check in detail the document, as well as check whether you are eligible for a loan.
39;s account are correct, but the online loan is still rejected, why?
The second reason is the same as what happened to Dika. The nominal limit or limit of each company is different, adjusted to the customer's financial capacity through the salary or credit history in question. For example, a limit that only reaches Rp. 5 million, but you apply for Rp. 6 million, then it is very likely that your application will be rejected. So try to observe the company's limit and apply below or maximum at the specified limit. Also Read: Simple Ways to Apply for a Trusted Online Loan, Anti-Fraud! The third reason is also quite often experienced because the borrower's name is different from the name on the account number listed. Usually this happens to married couples, or fellow borrowers. Even though they have a relationship, this difference will actually make the company may reject it because it is feared that there will be the use of fake or fraudulent data. So make sure all related identities are used according to the name of the party concerned so that the online loan is approved. If the documents are complete, the loan is within the limit, the name of the borrower and the recipient's account are correct, but the online loan is still rejected, why? It could be because you live outside the service range.
FYI, not all online loan companies have access to services throughout Indonesia. Usually limited to certain areas. So, study in depth the profile of the company that will be submitted and know the extent of its coverage area. This reason could be the possibility of an online loan being rejected, namely the number or email listed by the prospective customer cannot be contacted. This may occur due to an error when entering personal data. After going through several submission processes, the company will contact to confirm and ensure that the applicant's data is correct. If it cannot be contacted, then the application will obviously be canceled automatically. My Financial friends, these are some of the factors that can cause online loans to always be rejected. Relax, Finansialku will share tips so that the online loan you apply for can be approved. After knowing some of the reasons for the rejection of online loan applications, of course you have to learn from experience, yes. Don't let you be rejected for the umpteenth time, it will hurt, especially if the money is really needed. As already stated, each company or lending platform generally has a different policy. Therefore, before you apply for an online loan, read, understand, and follow the applicable provisions. So that you can fulfill all the requirements and the borrowing process has been successfully approved by the company. Also Read: Must Note! These are the Online Loans Registered at the Latest OJK! This online loan does rely on data that is inputted or uploaded by prospective borrowers online. Unfortunately, because of the rush, not a few prospective borrowers or debtors miss the required documents or attach documents that are not clear. Usually, online loan companies require you to send photos of documents such as new photos of ID cards and others. It is not recommended to send documents in the form of scans or photocopies.