This Is Why Cooperative Loans Are Still Attracted Until Now!

Usually cooperatives are very attached to a financial institution in the past, the users of this cooperative are also usually among the elderly. Including for cooperative loans. The cooperative itself is a non-bank financial institution that has a legal entity. All of this is stated in Law Number 17 of 2012. In general, cooperatives are established by the community and managed by their members. Each member has a contribution to the development of the cooperative. Why is it that cooperatives are said to be better than some other financial services? This is the reason!


The Advantages of Cooperatives Compared to Other Financial Services

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  • Relatively Affordable Interest

Some existing cooperatives generally apply interest rates that are not much different from loans in banks. The Ministry of Cooperatives and SMEs sets cooperative loan interest rates at around 7% per year. The interest rate is also the same as the People’s Business Credit interest or commonly known as KUR.

  • Easier Submission Requirements

Talking about loan requirements, of course through cooperative loans, the submission requirements are easier than if applying at the bank. Other facilities, if you have joined the cooperative first, the process and requirements will be easier.

  • Get Remaining Business Results (SHU) Every Year

SHU is the Remaining Results of Business, SHU will usually be distributed in accordance with the agreement that was made at the beginning of the agreement. Usually this SHU will be distributed every year. Well, if you become a member of a cooperative, then you can enjoy Remaining Business Results (SHU) every year.

In addition to these advantages, official and legal cooperatives are those who have activities in accordance with applicable regulations such as:


Legal Cooperative Activities to Run

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Savings and loan cooperatives have rules and conditions that are regulated in the Act. Some cooperative activities that are legal and can be carried out by cooperatives include:

  • Collecting funds from members
  • Distribute loans to members
  • Placing funds in secondary cooperatives

Then what is secondary cooperative? Secondary cooperatives are cooperatives with members as cooperatives. This secondary cooperative has activities that are not much different from the activities of cooperatives in general. The difference is that secondary cooperatives do not allow lending to individuals. The rest is the same as savings and loan cooperatives in general.

After talking about the advantages and activities commonly carried out by cooperatives, it’s time to discuss what are the requirements needed to become a member and can apply for a cooperative loan.


Requirements to Become a Cooperative Member

Requirements to Become a Cooperative Member

Being a member of a cooperative requires several conditions, but one thing to note is that the conditions for being a member of a cooperative are different in each cooperative. Therefore these are some general conditions for being a member of a cooperative:

  • Indonesian Citizen (WNI)
  • Membership as an individual, not as a business entity
  • Agree to cooperative rules, starting from the budget to the obligation to pay whether it is mandatory savings or principal savings

When they become members of a cooperative, the members are usually required to pay principal savings. For this principal savings usually paid only once. According to each month, members have the obligation to pay mandatory deposits. Then, there are also some cooperatives that make voluntary deposits that are similar to savings with a predetermined nominal and frequency.

The cooperative also provides loans that are usually carried out by the cooperative’s management at banks or other financial institutions. This cooperative loan is useful for the immediate needs of its members.


How to Apply for a Cooperative Loan?


  • Become a Member of the Cooperative

The first is certainly joining a cooperative member, before applying for a loan. By becoming a member of a cooperative, applying for a loan becomes easier and the process will be made easier. After applying for a loan normally, it will be given a form to apply for a complete loan with the necessary requirements.

  • Submit a Cooperative Loan with Recommendations

If there are friends or relatives who are members of the cooperative it would be easier to get a cooperative loan, because they can help recommend the proposed loan. Make sure you have good financial records to make it easier to approve.

  • Complete Administrative Data

Finally, complete administrative data, such as the completed submission form, a photocopy of the KTP if married, usually a photocopy of the spouse’s KTP is attached. Then some other documents such as family cards, salary slips and others. If you have completed everything, just waiting for the results.

Do you understand things about cooperative loans? Now you can consider a cooperative as a place to save and make a loan application.

Government Loans -not a problem for civil servants

Finding a suitable loan is usually not a problem for civil servants. Not only do they have a very secure income, they also have a good credit rating. The only exception are those officials who have negative information about the creation. However, this is likely to be an absolute minority. In the vast majority of cases, officials can even choose which loan or loan they would prefer.

Official loans

Official loans

Official loans are offered by numerous banks, savings banks or insurance companies. In contrast to a normal installment or consumer loan, a loan for civil servants has some special features. It would be important to remember that not only a loan contract but also life insurance must be taken out. In addition, the terms are very long and the interest rates are very low. Many civil servant loans extend over a period of 10 to 20 years.

In this context, it should not be left unmentioned that only the premiums for life insurance have to be paid during the term and that no repayments are made. The entire loan amount is only settled at the end of the term. The sole purpose of this is the amounts of money saved as part of the life insurance. It is not uncommon for capital life insurance to generate greater profits during the term. If the loan and/or insurance contract provides for it, the official will be involved.

Installment, consumer and overdraft facilities

Installment, consumer and overdraft facilities

If the official wishes, he can take out not only a loan for civil servants, but also a normal installment or consumer loan. The same applies to a car or real estate loan, which is often granted at particularly favorable terms. An overdraft facility in the checking account is a matter of course for most civil servants. The amount is determined individually and is usually three times the monthly income.

An overdraft facility has the great advantage that it can be used in whole or in part at any time and can also be repaid flexibly. If no specific purpose is stated, a loan for civil servants is freely available. The repayment modalities are agreed individually and recorded in a loan agreement.

Fast SMS loan free of charge


Do you prefer a quick loan and do not like unnecessary paperwork? Believe that it is not you, but many other clients want to have a loan settled almost immediately and without stretching. Fortunately, the current lending has improved a lot and you can handle many loans quickly and in a matter of minutes.

Quick loan is also an SMS loan , where you get up to 5,000 dollars!

Quick loans for low amounts

Quick loans for low amounts

SMS loans are provided quickly, just send a text message and let’s run while you get a response on settlement or rejection. However, for SMS loans, you cannot expect to receive higher amounts. Specifically, the SMS loan is given in amounts from 1,000 to 5,000 dollars. But don’t expect to reach the maximum immediately as a new client.

If you are renting for the very first time, you can get a maximum of 1,000 dollars. Will you properly return the installment with the set fees on time? Then nothing prevents you from borrowing a second loan, when you can now borrow 2,000 dollars. Subsequently, it will be 3,000 dollars. The amount will increase after each refund until you reach a maximum of 5,000 dollars!

SMS loan for anything

SMS loan for anything

The loan can be used for anything you need. This is a non-purpose loan where the reason for borrowing money is not required. The loan is intended for natural persons with permanent residence in the the country. The first loan requires a maturity of up to fifteen days.

The second and every other loan has a maturity of 22 days. Do you find the payback period very short? An extension can be requested. The grace period is possible for another two weeks, but expect to pay an additional fee for each week started. From the second loan you will have a free maturity week.

You can get the loan free of charge in advance. No guarantors or pledges are required. Interest represents pre-determined fees – you pay 250 for every 1,000 dollars borrowed. The loan can be arranged by phone and via SMS messages, from anywhere in the the country. You can also fill out an online application.

Variable Rate Loan

Is there a variable rate loan? What do you have to consider with this variant? You can usually take out a real estate loan without fixed interest rates. With this variant – a loan with a variable interest rate – the interest is adjusted at regular intervals to the current interest level. In general, this form of real estate financing is not recommended for every real estate buyer or building owner.

What is special about a loan with a variable interest rate?

What is special about a loan with a variable interest rate?

In general, a variable rate loan means that the interest rates on these loans are fluctuating and therefore adjusted regularly – often quarterly. It depends on how the interest rate markets develop. What is the benefit of a floating rate loan? No fixed interest rate is agreed for a loan with a variable interest rate, ie the loan can be terminated at any time with observance of the notice period and can therefore be repaid in full. It is the ideal solution if you only need a short-term loan, for example for interim financing.

What Are Other Benefits Of A Variable Rate Loan?

What Are Other Benefits Of A Variable Rate Loan?

The borrower can clearly benefit from the interest rate development. As soon as the interest rate falls, the interest burden on the loan will also decrease. One risk that the borrower has to accept is that mortgage interest rates can rise just as well, which increases the interest burden again. And that is precisely why loans with a variable interest rate are only suitable for those who are financially well secured and who passionately borrow and speculate with their money, so are willing to take a risk and are familiar with interest rate markets. to record. But if that’s not the case, you shouldn’t take out a floating rate loan because it can’t really estimate the risk and cost involved.

Because, as explained in detail, the dangers that arise in connection with the loan and the variable interest rate are very great. A well-known and warning example is the US mortgage crisis. In this real estate crisis, more than a million Americans took out variable-rate loans, but after a huge rise in interest rates, they could no longer pay the suddenly high rates. As a result of this crisis, many of those affected have lost all of their property and assets. So you should borrow very well beforehand whether this form of loan is the right one for you or whether you should take a safer option.