Requirements for Indonesian and foreign citizens to make loans without collateral
What documents must be prepared when applying for a loan without collateral?
1. Photocopy of Identity Card
2. Proof of Income
3. Photo Copy of Credit Card
4. Photocopy of the Taabung Account
5. Photocopy of Professional License
6. Taxpayer Identification Number
7. Photocopy of Deed of Business Establishment
Can foreigners apply for loans without collateral?
Foreign Citizens (WNA) can still apply, but only limited to unsecured loan products issued by banks only. So foreigners cannot apply for loan products without collateral from BPR, P2P Lending, or other financial institutions. P2P Lending here includes all product lists contained in the fast loan category page at Cermati.
Please note, all the assessment and approval processes for prospective foreign customers are carried out by the Bank concerned. This assessment and approval also depends on the policies of the respective banks.
What is the limit for loan funds that can be obtained from loans without collateral?
In loan products without collateral, the loan limit obtained can vary in number. In general, banks will provide cash loans of a maximum of IDR 200-300 million in accordance with the terms and conditions of each bank.
Does the amount of income affect the limit of unsecured loans that can be obtained?
Yes, because the bank will further calculate the loan applicant's repayment capacity. The greater your income, the bigger the loan you can get from the bank. In addition to the amount of income, the loan amount given is also influenced by the credit card limit owned by the credit applicant. The loan size given can usually be 4 to 5 times the credit card limit you have. The bank will also usually approve your unsecured loan application if the amount of unsecured loan installments per month does not exceed 40-60% of your total income.
Is There a Minimum Credit Card Limit that Must Be Fulfilled in order to Apply for a Loan?
Yes, usually the bank determines the credit card limit of the prospective borrower at a minimum of 1/4 of the loan amount that you want to submit or in general it is rounded up to Rp. 6 million per month.
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