Islamic loans are now increasingly attractive to be used as a method of borrowing money. Not wanting to be outdone by other financial institutions, Islamic financial institutions also have credit products in the form of unsecured loans . Do not be afraid or have any thoughts if the application for this loan will be difficult or complicated. The requirements for applying for loans in Islamic financial institutions are relatively the same as conventional banks.
Unsecured loan application
So on that basis, applying for Unsecured loan or Islamic loans to Islamic financial institutions or also often referred to as Unsecured Sharia Loans is quite interesting to consider if you currently need fast funds. But it helps you make a comparison in advance with the Unsecured loan from conventional banks so you can find out exactly what the difference is.
If it is said to be different, it is certainly different, because Unsecured loans in conventional banks will apply interest as a form of service or reward for having lent a number of funds that you need right within the mutually agreed period. The benefit will be calculated through a percentage, the amount of which will depend on the value of the loan and the term of the loan you agreed on.
Unlike the case with Unsecured loans originating from Islamic financial institutions or banks with sharia headings that do not recognize interest in Islamic loans. Then what is used as a substitute for flowers here? This is applied to the Unsecured loan on the basis of sharia is packaged in the form of profit sharing because it adheres to a partnership system. What’s more there is one additional condition that you must meet before the funds you need are disbursed from Islamic financial institutions or Islamic banks. Ie, the money that you are looking for will go to things that are lawful, such as trading capital for example. Therefore, you as a prospective customer are obliged to state that the use of the Unsecured loan and its use must be used for halal matters.
The benefits of this Islamic loan also include multipurpose financing in it
This means that prospective customers can also apply for Unsecured loan for various purposes outside of business needs, such as going on Umrah or going on pilgrimage as well as to obtain goods that are outside of motorized vehicles, such as buildings, land, and also precious metals. In addition, you can use this Sharia Unsecured loan for business purposes.
Talking about the process, it is not difficult and long-winded in getting this Islamic loan. At present there are already quite a number of Islamic financial institutions entitled sharia and also the emergence of Islamic banks that offer loan facilities to their customers without collateral. The amount of ceiling that is offered is quite varied which you can choose based on your needs. Some Islamic banks are even ready to disburse Unsecured loan facilities with a value of more than Rp 100 million. Of course you should not be immediately interested in agreeing to the offer. Keep prioritizing your selective principles and your needs, so you can maximize the benefits of the product for your initial goals and needs. It is a must for you to compare this one syariah-based loan product from one Islamic bank with another Islamic bank or other financial institution.
Then what are the benefits of using this Islamic loan?
- Halal: Certainly making a loan of funds in Islamic banks or similar institutions is guaranteed halal quality. This is a response from some people who feel sensitive or are reluctant to borrow at conventional banks because in their loans the interest system is prohibited in Islam. If you are one of them, then lending funds in Islamic banks can be the right solution.
- The same facilities as conventional banks: The facilities offered by Islamic banks or Islamic institutions are no less attractive and also complete compared to conventional banks. It can be said that almost all Islamic banks in Indonesia have facilities that make it easier for customers to transact. For example, you will find convenience in paying installments, internet banking features, and so on.