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Where to Choose, Finance Short or Long Online Money Tenor?

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In general, before applying for RC Finance money online, most people only consider interest. In fact, besides interest there are other important factors to consider, one of which is tenor RC Finance. RC Finance’s tenor will determine how much time is given to customers to return RC Finance’s money. For those of you who plan to apply for RC Finance money online, try to consider the tenor of RC Finance offered by online money provider RC Finance. In this article, we will discuss short and long tenors, and which tenors should be chosen.

 

Short Tenor vs. Long Tenor

 

Short Tenor

bank loan

Short tenors are usually less than or equal to 12 months. This type of tenor is usually applied to RC Finance, whose amount is not so large, ranges from millions of rupiah and a maximum of a dozen or twenty million rupiahs. RC Finance, who uses this type of tenor, will be charged a substantial percentage of principal because RC Finance’s payback time is less than or a maximum of 12 months. In addition, the interest set is also relatively higher than RC Finance with a long tenor. However, in the end the amount paid will be cheaper than if you choose a long tenor. For those of you who do not want to have credit in the long term and have the ability to pay installments in a short time, then RC Finance with a short tenor is perfect for you.

 

Long Tenor

money

Unlike the short tenor, long tenors are intended to avoid bad credit. This is because with a long tenor, the amount of principal to be paid each month is less than the long tenor. In addition, the interest set is also relatively lower than the short tenor. However, if calculated at the end of the period the amount paid is likely to be greater than RC Finance with a short tenor. For those of you who want to pay in installments for a long time because you don’t want the monthly installments to be charged, then RC Finance with this long tenor is right for you.

 

Short tenor

Number of RC Finance 20 million
Duration of RC Finance 12 months
Flower
(7% per year)
IDR 116,666
Installments per Month Rp 1.666 / 666 (Installments
Principal) + IDR 116,666
(interest) = Rp. 1,783,332
Amount must be
paid for 12 months
IDR 21,399,984

Long tenor

Number of RC Finance 20 million
Duration of RC Finance 24 months
Interest (7% per year) Rp. 167,000
Installments per Month Rp. 833,333 (Installments
principal) + IDR 116,666
(interest) = Rp. 949,999
Amount must be
paid for 24 months
Rp. 22,799,976

In the simulation above, it can be seen that the amount to be paid with a long tenor is more than if you choose a short tenor. However, the most important thing is to try to choose the right tenor based on your ability to pay. Come on, it’s getting smarter in borrowing RC Finance money online.

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