Periodical credit is a loan facility for working capital. It is a short period loan and the period can be extended.
Loan withdrawal uses the promissory note with particular maximum time period up to the credit facility due date. The promissory note maximum period is 180 days and should not be exceeding the Credit Agreement.
Loan disbursement and payment will be adjusted at the Customer’s request, as noted on the promissory note.
- Suitable for working capital needs that is seasonal and can be paid off when the season ends.
- The Bank and the Customer can control the loan based on the loan time period that has been analysed according to the capital needs until the Customer gets the revenue to pay the facility.
- The Customer may apply a request for facility extension if necessary.
- When the payment of basic funds or interests is late, it will affect the Customer’s credit quality as recorded in Bank Indonesia.
- When the Customer fails to pay the basic funds including the interest, then:
- It will affect the Customer’s credit quality that is recorded in Bank Indonesia.
- The Customer will be penalized.
- If the payment happens in advance, then the Customer will be penalized.
- The risk of interest rate increment following current market mechanism.
REQUIREMENTS AND PROCEDURES
- The requirements will be written on the Credit Application Form.
- Withdrawal procedure will use the promissory note as the medium.
- Interest payment will be based on disbursement date for each month.
- When the promissory note is due dated then full repayment of the tray debt should be done, including the interest.
- If the due date of interest and/or the due date of the promissory note and/or the due date facility falls on Saturday/Sunday/Holiday, then the interest and/or basic fund payment will be debited on the last working day.
- For information/complain about Periodic Credit Bank Danamon, the Customer may visit the nearest branch or call Hello Danamon at 1-500-090. The procedure of complains referring to the offering letter that has been presented to the Customer before the Letter of Credit is signed.
- Individual documents: ID, NPWP, KK, Certificate of Marriage (if married)
- Institutional documents: Certificate of Business, Letter of Acceptance from Judiciary Minister, Certificate of Company.
- Other documents: SIUP, last 3 months checking account, last cash flow report.
- Provision Fee
- Interest Fee
- Notary Fee
- Insurance Fee
- Administration Fee
- Appraisal Fee
- Fine Fee (if there is a late payment of the instalment)
- Penalty Fee (if there is an advance repayment before the due date, in a part or whole funds)
- Fire insurance, and;
- Life insurance.