The online cooperative is currently in talks. In fact, what is the difference between online cooperatives and online loans in general? Check out the complete difference here!

Applying for a loan in a time of need is inevitable because the risks of life are unpredictable. There are so many lenders we can choose from. But among those many, there are two that are currently the subject of public discussion, namely unsecured online cooperatives and certainly unsecured online loans.

There are two similarities between the lack of collateral or asset guarantees you need to provide and the way in which they use online methods to make them more sophisticated and easy to use. Unsecured online loans are usually managed by fintech companies. You can submit it through the official website or download the app on the PlayStore or AppStore. While these online cooperative applications are not guaranteed, they can only be submitted through the official website.

Early Settlement Fee


Unsecured online cooperative loans are in fact not much different from cooperatives in general as they are managed by organizations or groups of people for the benefit of their members. The basic principle of unsecured online cooperatives is the family economy.

Although they do not require collateral and can be filed separately, they are still different financial products so they must have a plus. In order for you to decide which one is better and more profitable for you, it’s a good idea to have plus-minus from both.

Plus Minimum Online Cooperative Loan Without Securities

Plus Minimum Online Cooperative Loan Without Securities

  • The process is simple and fast

Unsecured online cooperative loans are very easy to apply because these types of loans are managed by institutions, associations, or organizations so there is no bureaucratic complexity. In addition, the dilution process is also very fast. If you meet the requirements, the loan amount can be in your hands in just one day.

  • Must be a Cooperative Member

Since the main purpose of a cooperative is to enrich its members, then it is guaranteed that this online cooperative loan is only for its members. To apply for a cooperative online loan without a guarantee you must be a member for at least 1 year.

But there are some cooperatives that lend to non-members as well. Of course, to obtain the loan, you will be asked for additional document requirements.

Unlike banks that set interest rates on the market so the range is always uncertain every month, these unsecured online cooperative loans have a fixed interest rate as well as a fixed interest rate using the flat rate calculation system. The interest provided by online cooperatives can be light because the interest rate has been determined by the results of all members’ agreement.

Suppose from consensus, interest rates on online cooperative loans are 3% per annum, whereas when you apply for a loan of $ 10 million over a ten year period (24 months), interest rates will remain the same for the first and second years because the system uses interest calculations. fixed ( flat-rate ), not floating rate.

  • Limited Loan Plans

Unfortunately, the lending platform provided by these online cooperatives is limited. In contrast to loans from banks that can reach hundreds of millions. This is because the source of unsecured online cooperative loan funds comes from the members’ dues. In addition to the members’ dues, the funds also come from interest and the result of joint activities.

  • The Terms Provided are quite complicated

Although the process is easy to do and the cash flow is fast, the terms provided are quite complex compared to online unsecured loans. Typically the terms provided are photocopies of IDs, IDs (Taxpayer Identification Number), payslip or proof of income, Family Card (KK), and electricity or PDAM accounts.

If you want to apply for a cooperative online loan without any guarantee of venture capital, then you need to provide additional terms for a business proposal that can convince the co-manager. So don’t even make the proposal yes Dude!

E-Money Plus Online Loan Without Secure

E-Money Plus Online Loan Without Secure

  • Fast and Easy Process

The process of unsecured online cooperative lending is fast, but unsecured online lending is also very fast. Especially if you file it through a secure and trusted Oliver Twist because it is registered with the OJK (Financial Services Authority) and is under government supervision. If the requirements are met and the documents provided are complete, the filing and disbursement process takes only 1-3 business days.

  • Larger Loans Nominated

For a loan planner provided by an unsecured online loan it is not as high as a bank without credit. But compared to unsecured online cooperative loans, it’s definitely a bigger number. An unsecured online loan can offer up to $ 20 million in loan terms with a tenor of up to 160 days.

The disadvantage of unsecured online loans is that interest rates are on average much higher than interest rates on unsecured online cooperative loans. These high-quality flowers are actually comparable to requirements that are easy to fill, easy to apply, and even a plush floor.

  • Possible Reject

Please note that not all online loan applications can be accepted or approved. This can be due to many factors. Starting from the huge queue of incoming loans, incomplete or unreadable documents, and more. Therefore, if you have a refusal to apply for an unsecured online loan, you should not be discouraged because you can try again.