What Is Tensor? These Are The Types That A Debtor Candidate Should KNOW

Credit tenor illustration (Unsplash/Tierra Mallorca)

YOGYAKARTA - The tenor is the content that must be known in the world of credit and investment. The tenor will send by the lending agency to every debtor who applies for credit. The goal is to find out the debtor's ability to pay installments or installments.

Currently, there are many financial institutions that provide credit services. The conditions given for borrowing are also easier. Of course, this service is an opportunity for people who want to open a business or business. To avoid mistakes or losses, the creditor applies a tenor or deadline to debtors

With the tenor, creditors are more secure in lending money. Meanwhile, discharge is a responsibility on time and is more manageable in credit.

Tenor is the term of credit made by debtors. Debtors are required to pay installments or installments according to the agreed period with the creditors. The duration or period of the tenor given by creditors is religious according to the capabilities and needs.

Types in the tenor period are very of the type of credit or financing. Debtors can choose the type of tenor according to their ability to pay installments. The tenor is also the benchmark in determining the amount of interest rate that must be borne by the debtor.

The tenor is generally divided into two types, namely a long tenor and a short tenor. The distribution of this tenor is based on the time period. Here are two types of tenors that creditors can choose from.

The long tenor is a credit tenor with a longer installment period, which can be 3 to 30 years. The application of long tenors is usually on financing or credit that has a large principal debt.

In the long term, the nominal financing is usually up to billions of rupiah. Examples of long tenors are applied in mortgage financing, vehicle credit installments, car asset guarantees, and house certificates.

The short term period is the shorter period of financing, which is one month to three years. The short term period is usually used for types of credit and financing whose value is not too high. This tenor is usually applied in electronic device credit financing (PHONEs, laptops, etc.), guarantees for motorcycle BPKB, to online loans.

There are three types of tenors based on financing, namely housing loans (KPR) tenor, Unsecured Credit (KTA), and Loans with Guarantee. The following is the explanation of each type of tenor.

KPR is a type of financing specifically intended for debtors who want to own a house with an installment payment system. Many mortgage credit services are needed for those who want to have home assets quickly and small capital.

There are several types of tenors in mortgage credit. The type of tenor that can be chosen depends on the ability of each debtor, it can start from 5 months to 25 years. KPR generally offers two types of interest rates, namely fixed interest rates and floating rates.

KTA is a credit whose requirements are quite easy and the disbursement process is fast. This type of credit is in great demand by various people because of the excess. However, this type of credit has a higher interest rate than the KPR. In addition, the tenor offered by KTA is shorter than the KPR, usually 1 to 5 years.

Loans With Guarantee are also a type of credit that is in great demand by various groups. Debtors need to submit guarantees to be able to use this credit service, it can be in the form of a Vehicle BPKB and Home Certificate. Meanwhile, the tenor offered is in the range of 1 to 5 years.

That is the explanation of tenors and types of tenors based on their time period and financing. Before deciding on credit or credit, debtors must understand the provisions of each type.

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