When you are availing services from Halomoney at that time several offers available for taking loan. In Indonesia, mainly two types of personal loans available. First is installment loan and second one is overdraft. Some consider personal loan for different tasks such as; home renovation, education, wedding and so on. Most interesting thing related to this particular type of loan is, users are not required to submit any type of asset as collateral security. Another benefit of choosing way of personal loan is interest rate is fixed in it. There is not any type of variations or fluctuation in rates of interest.

Types of personal loan

There are various options available or provided by financial institutions for users. The rate of interest and repayment policy differentiates them. These things also become reason for changing the decision of users. Some people are comfortable with paying fewer installments and some are paying attention to rate of interest. If you are looking for option in which you need to pay fewer installments at low rate of interest and not finding a good deal then visit Halomoney. It search offer as per your need among hundreds of option available in Indonesia. Now I’m going to explain types of personal loan;

Fixed installment loan: In this particular type of loan the rate of interest and amount of installment never change. Users are required to pay a fixed amount per month for a specific time period. Some banks provide option to clients regarding choosing the time period for repayment of loan.

Overdraft: In this type of personal loan interest rate remains unchanged but amount of installment change every month. These changes take place due to change in remaining amount of loan. The interest is calculated on the basis of amount remaining after paying the installment of last month.