Indonesia - Guidance To Apply Student Loan

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Procedure

Student/education/tuition fee loan - Banks:

1. The borrower must gather all documents they will need to present or submit to the bank to apply for a loan.
2. Complete an application, make sure that you have provided all the required information in the form. Most forms can be downloaded from the bank's website.
3. Submitting an application:
   1. In person: Most loan applications are done in person, with the applicant or his/her guardian going to the bank, you may set up an appointment with the bank by giving them a ring. Submit the completed application form along with other required documents. Note: Banks may ask you to submit additional documents aside from the ones listed on the 'Required documents' section. It will be better if you can get in touch with the bank's representative/lending officer/customer service by phone first before you go to bank's branch. They can give you a checklist of required documents, answer some of your queries and direct you to the nearest branch of the bank in your area.
   2. Online: To save you some time, you may also check if you can start your loan application online. Some banks will ask applicants to complete a preliminary application to be submitted electronically, with some of the required documents sent via email. After reviewing the application, a lending officer will contact you to discuss your application.
   3. By Phone: Some banks makes it easier for borrowers to apply for a loan by having the borrower call the bank's customer's service number. You may be asked by the bank to complete an application form which you will then fax to them. Note: It will be better to call the bank first to confirm the fax number and call them back again after to check if your application came through the fax machine.
4. Once your application is approved, the bank will ask you to sign the loan agreement. Note: Read the loan agreement carefully before you sign, take note of the interest rate, grace period, when you will start repaying the loan and any penalties in case of default.
5. Some banks will disburse the loan amount by depositing it to your bank account.

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Required Documents

Some of the documents that a bank might ask applicants to submit or present:

• Completed Application Form
• Copy of Personal Identity Card (KTP)
• Copy of NPWP
• Proof of Income Document
• Copy of Bank Statement (For self employed applicants.)

Note: The bank may ask you to present additional documents, check the bank's website first before going to their branch office to apply for a loan.

Office Locations & Contacts

Please list down the office locations that can be approached for applying. External links can also be used specifying office locations.

Eligibility

Some banks requires applicants to be 21-55 years of age.

Fees

Some banks charges borrowers an administration fee that can cost around 3% of loan amount.

Percentage may vary per bank.

Validity

Some banks offers loans with repayment period of 12,24,36 months.

Documents to Use

Please attach documents that can be used by people. e.g. links

Sample Documents

Please attach sample completed documents that would help other people.

Processing Time

It will take about 10 days for some banks to process your application.

Related Videos

Videos explaining the procedure or to fill the applications. 
Attach videos using the following tag <&video type="website">video ID|width|height<&/video&> from external websites.
Please remove the "&" inside the tags during implementation.
Website = allocine, blip, dailymotion, facebook, gametrailers, googlevideo, html5, metacafe, myspace, revver, 
sevenload, viddler, vimeo, youku, youtube
width = 560, height = 340, Video ID = Can be obtained from the URL of webpage where the video is displayed.
e.g In the following url "http://www.youtube.com/watch?v=Y0US7oR_t3M" Video ID is "Y0US7oR_t3M". 
	

Instructions

Before applying for a loan:

• Make sure that you can present and submit all the required documents that the bank is asking for.
• Take note of the interest rate, conditions, and repayment scheme that the bank is offering. Look into several banks and do some research regarding the banks application process.
• You might also need to consider the bank's customer service before you apply for a loan, since student/education/tuition fee loans are usually long term, it will make transactions easier and can spare you from a lot of headache in the future if your bank has good and accommodating bank representatives or loan officers.
• Loan amount: You may not need to accept the entire amount of the loan the bank is offering you. Remember that what you are getting is not a grant but a loan, meaning you will need to pay back everything plus interest sometime in the future.

Required Information

A list which displays the kind of information which is required to complete the procedure.
e.g.
1. Date of Birth.
2. City or County of Birth.

Need for the Document

Some banks in Indonesia offers education/study loans that can help cover school related expenses like tuition fees, travel, accommodation and daily expenses.

Here is a guide that can help students apply for student/education finance in Indonesia.

Information which might help

Enter other informations which might help

Other uses of the Document/Certificate

Please explain what are other uses of obtaining this document/certificate.
e.g. Birth Certificate can be used as proof of identity.

External Links

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Others

More information which might help people.