Borrowing money from banks does not appear to be a complicated matter at this time because with the intense competition between banks, all facilities regarding terms and processes have been given to prospective borrowers to be able to obtain loans. There are many needs that must be fulfilled, but sometimes the income we have is not able to pay for everything we want.
However, even though it is considered instant and can get quite a large amount of money compared to borrowing from relatives, this bank loan also has several advantages and disadvantages that should be considered.
advantages:
- The process of disbursing the funds needed is quite fast, so the problem of lack of funds that you are facing is quickly resolved easily
- The interest set in the bank is standardized according to the tenor taken during the loan period
- The desired item can be obtained quickly even though before getting a loan there were not enough funds
- If you want to open a new business, then this loan can help to make your dreams come true
- The requirements submitted by the bank to the borrower are quite clear, easy and the process of disbursing funds is fast
- The repayment of borrowed funds is predictable and does not depend on business fluctuations