Credits sold by consortium grow almost 25%

From January to May this year, the volume of credits sold by consortium grew by almost 25% compared to the same period in 2016. The business exceeded $ 36 billion. Adhesions to the consortium also grew: in the period, 912.5 thousand shares were sold, 7.8% more than last year. The System has been increasing in several indicators in 2017.

May registered the second best sale of the year, behind only April, which was an annual record, with 195 thousand adhesions. In May, 185 thousand shares were sold, compared to 165.7 thousand in 2016.

“The economic scenario has signaled positive perspectives. There is always the confidence that the consumer, when feeling the changes, can choose to plan their goals via consortium. In fact, a recent survey by Quorum Brasil, carried out at the request of CredNow Finance, showed that in 2017 82% of participants planned to join the mechanism. This represents an increase of 15 percentage points over the previous year ”, explains CredNow Finance executive president, John Kossi.


Credit trade

Credit trade

The Consortium System registered an average ticket of $ 40.7 thousand in May, a value 10.6% higher than the $ 36.8 thousand recorded in the fifth month of 2016.

Credits traded in May showed an increase of 16.4%, from $ 6.47 billion to $ 7.53 billion. In the accumulated result for the year ( $ 36.3 billion), the increase was 24.7%.

From January to May, five of the six segments of the consortium showed an increase in sales. The exception is the motorcycle consortium. Despite the 3% increase in commercialized credits and 9.6% in the average ticket, it has been registering constant decreases.


Active participants, contemplations and credits granted

credit loans

Even with the positive balances in the various indicators, the total number of consortium members in the consortium fell, as in previous months. The total in May was 6.93 million (2017), 1.9% less than the 7.06 million (2016) recorded in May 2016.

Contemplations in the first five months of the year totaled 503 thousand, 12% less than the 571.8 thousand in the same period last year. Also in the corresponding loans granted, there was a 6.5% retraction, decreasing from $ 17.11 billion to $ 16 billion.

You Can Only Apply for a Personal Online Loan If You Have Done These Things!

Personal online lending is often the solution when it comes to needing funds. But before applying, there are a few things to do first. Check out the full explanation here!

You must have heard many personal online loans are being talked about these days. This is because a personal online loan can be a solution or a helper when we are in a state of urgent need of funds. For example, when paying for hospitalization costs, childcare costs, home renovation costs, and repairing damaged vehicles.

Although they are in good economic condition, in fact, the average Indonesian people tend not to have the savings, savings, or insurance that can help when they are at risk of unwanted things. If this is the case, then a personal online loan will be the solution.

Introducing Personal Online Loans

Introducing Personal Online Loans

Before talking about personal online loans, you should first consider what private online loans are. Personal online lending is one of the kinds of loans that give people money online so you can do it anytime and anywhere without having to go straight to the lender’s office. For a private online lender, it can be a bank or fintech company.

Both have different conditions, ranging from the loan amount, loan term, interest rate, as well as the terms and documents requested. In general, the average bank loan amount online is larger than a fintech company because it can reach hundreds of millions to billions.

But of course, getting a personal online loan from a bank takes longer than a fintech company that can liquidate your loan within 1-7 business days. In addition, the requirements provided by the fintech company are not as numerous and as strict as the requirements provided by the bank. This is why Indonesian people are now more interested in applying for personal online loans through fintech sites.

Things to Do Before Applying for a Personal Online Loan

Things to Do Before Applying for a Personal Online Loan

Although it offers a lot of conveniences, it doesn’t mean that you can apply it without proper preparation. Rarely do people who have their applications rejected or feel sorry for applying for a personal online loan in one place because it feels like a better place. Therefore, you can only apply for a personal online loan if you have done six of the following:

Find a Safe and Trusted Loan Provider

The first thing to do is to find the right and reliable lender. There are many private online lending providers currently on the market, but not all are safe. You must have heard many cases of online fraud in the name of online personal loans. Then how do I choose it?

First, make sure that your lender is registered with the OJK (Financial Services Authority). Private online lenders who are already registered with OJK can be safe as they are monitored and operating in accordance with the rules set by the government. One example of an OJK registered personal online lender is Good Finance.

Select the Gifted Friend

If you are looking for a secure and trusted online personal loan provider. Now is the time to look for a personal online lender that can offer low-interest rates as well. That’s why you need to compare more than one private online lender. That way, you can get the best flower offer. Remember, there are some providers that distinguish interest based on nominal loans. The larger the nominal loan, the less interest a loan is given. So you have to pay attention to it.

Choose the Right Tenor Time


Next is to choose the right tenor or term of the loan. Why should a tenor watch? It is not just the interest that can affect the monthly installment of the nominee, but also the tenor term selected. If you do not choose the right tenant, you may have difficulty making the installment payment because you cannot pay the amount.

The longer the tenor period, the less the amount of installments per month payable. But the total debt will surely increase. On the contrary, if you choose a short term tenure where the loan is larger but the total amount of the debt is less because the interest payable is also less.