2. Why Choose KFund?
First, As a P2P Lending platform, KFund has been officially registered and supervised by the Financial Services Authority (OJK) in accordance with Regulation Number 77 / POJK.01 / 2016 regarding Technology-Based Lending and Borrowing Services (peer-to-peer lending).
Second, investing through KFund means participating in contributing to creating changes in the people's economy by lending venture capital to micro entrepreneurs, small entrepreneurs so they can get better income for better welfare
Third, the distribution of investor funds to borrowers is done by using credit scoring and risk mitigation to filter out potential borrowers who are eligible to be funded. Our Lending Team, has quite a long experience (3 to 13 years) in Banking, especially in the Micro Credit Segment and loans for Employees, both in BUMN Banks and Private Banks
Fourth, the investment value at KFUND is very affordable, with a minimum of IDR 1,000,000 (One Million Rupiah) only. This allows potential funders from various walks of life to invest easily, practically and safely through our platform.
Fifth, investors / lenders will get higher returns from Installments deposited by the Borrower, compared to the average of conventional investment instruments such as deposits or savings in banks.
3. What is the borrower's credit score?
Credit scores are a technology developed by KFUND to select prospective borrowers. For prospective borrowers that we recommend for you to finance, we will categorize them in two Grade categories namely Grade A1 (Low Risk) and Grade A2 (Risks higher than Grade A1).
We apply returns according to the level of risk Where the returns received by investors (lenders) are also influenced by the credit scores of the borrowers (borrowers) being financed. Thus, in line with the risk level above, the return received by the Fund for prospective Borrowers in the Grade A2 category will also be greater than for borrowers for category A1
4. What is the Credit Limit at KFUND?
Credit Limit that we offer is Rp 1 million SD Rp 25 million, with a period of 1 month of SD 3 months, and 6 months SD 24 months
5. What are the General Requirements of the Borrower?
Indonesian citizen and has a KTP
Minimum age of 21 years, or 18 years for those who are married, while the maximum age at the time of the loan is 60 years for business loans, and 56 years for non-business loans
For Business Loans, the business has been running for at least 6 months in the same location and the same type of business
For prospective borrowers with employee background, have become employees at least 24 months in the agency / company where they work at this time. Where is the payroll system through Payrol Bank or transfer into a bank account.
6. What are the General Conditions of Funding?
Indonesian citizen and has a KTP
Minimum age of 21 years, or 18 years for those who are married
7. Are there any fees charged to get this service?
Yes, you as a Borrower or Lender will be charged our Services, this fee you only pay one time in advance, before the loan disbursement. The amount of the fee is in accordance with the provisions currently in force at KFUND. In general, the Amount of Service Fees charged to Lenders is smaller than those charged to Borrowers (about 50% of the Service Fees charged to Borrowers). This is because of the risks borne by Lenders
8. Are there any Pinalty fees, if the Recipient of the Financing Earns Early?
We highly appreciate borrowers who do early repayment (accelerated repayment). For accelerated repayment is not charged a penalty fee, it only requires you to continue to pay the return in the month. It is a manifestation of your commitment and us to the lenders (investors)
The refund process for the lenders will be done gradually at the latest within 3 (three) working days
9. Is there an Incentive Program for Borrowers who pay installments on time / before the due date and the exact number of installments each month?
We highly appreciate the always disciplined borrowers pay the amount on time and exactly the number of each month until it is paid off. The incentive that we provide is a Cash Back of 50% of service fees that borrowers pay at the beginning of disbursed loans, with the following conditions:
Loan period of at least 6 months to 24 months
Never in arrears at all, even if only one day late from the due date Installment / maturity of the loan.
The amount of installments deposited must be at least in accordance with the number of monthly installments, not to be less than Rp. 1 (one Rupiah) or included in the underpayment category.
Not valid for Early Repayment
10. What If the Financing Recipient is Late in Paying Installments / repayments?
These conditions are part of the risk of funding that we will surely face. Before agreeing to a SMES to be a financing recipient, we first ensure "eligibility" based on system scoring and risk mitigation that we deem necessary, thereby minimizing the risk of having a late return on financing funds.
We will endeavour to charge borrowers late to pay installments by our desk Collector team. Apablla is felt to use the Field Collector services, then this billing service fee will be taken from a portion of the value successfully billed
11. Is There Insurance for the Borrower and the Loans?
We require Life Insurance for each Borrower who gets a Loan, and this Premium fee is paid by the Borrower.
For Loan Insurance (Credit Insurance), it is only required to prospective Debtors with Grade A2 Category, and the cost of this insurance premium is fully (100%) paid by the Prospective Borrower.
Whereas Loan Insurance with Grade A1 category, is only subject to requests from prospective lenders, and this insurance premium is paid under a joint responsibility scheme between 50% Lenders and 50% Borrowers, a total of 100%
The amount of the premium fee and the sum insured of this insurance is in accordance with the provisions of our partner insurance company. And will be paid, if the Borrower meets the requirements set by the Insurance Company.
12. What happens if the recipient of the financing fails and is unable to pay?
We have a scheme of risk guarantee allocation through life insurance and loan insurance that is used in the case of payment failure in accordance with the terms of the company policy and the insurance company's partners. Insurance such as beneficiary dies or attempts to fail due to things included in force majeure conditions, such as natural disasters, etc. According to the provisions agreed before disbursement of loans.
For category A1 borrowers Grade, it is not obligated to pay premium for loan insurance (credit insurance), however we recommend to use this loan insurance facility.
The value of coverage following the provisions of the insurance party, which will be notified to you before the loan disbursement process
13. Do Lenders and Fund Recipients Have a Legally Binding Agreement?
The financing lenders and recipients have agreements with the company electronically binding legally, where the KFund is also included in the agreement as an intermediary. The agreement you will read and learn when registering as a user and start financing or to apply for a loan
