How to Borrow Money at Shopee, Interest, and Payment Method

Samudranesia.id – Now Shopee offers financial services in the form of facilities that allow you to borrow money at Shopee, this facility is called Shopee Pinjam.

So, you can apply for a money loan easily and with low interest. In fact, you can choose the time period when you will return the loan funds. The tenors offered are around 2, 3, 6 and 12 months.

You just have to decide for yourself, how much money you want to borrow and when to return it. Everything can be arranged according to your needs. But before that, try to read the advantages and disadvantages of borrowing money at Shopee, before you make the loan application process.

Advantages and Disadvantages of Borrowing Money at Shopee

Before you borrow money at Shopee, it’s a good idea to find out first what are the advantages and disadvantages of taking a loan at Shopee.

So, you can anticipate all the risks that could later occur. The following are the advantages when you borrow money at Shopee:

1. The application activation process for one loan account is quite fast
2. The process of disbursing funds is fast, because it only takes about 30 minutes to 2 working days, then the loan funds will enter your account.
3. There is an administrative fee for borrowing money at Shopee, the fee is quite cheap, around RP. 10,000
4. The interest given if you borrow money at Shopee is quite light, which is around 1 to 3%
5. A loan application can be made more than once. But with a note, your loan limit is still left.
6. Shopee offers a fairly large loan limit, around Rp. 5,000,000

And, the disadvantages of applying for a loan at Shopee that you need to consider are:

1. Shopee provides short loan terms, which are around 2, 3, 6 and 12 months.
2. Shopee has limitations for applying for a loan account. Because, not all users or buyers can enjoy this loan.
3. The penalty set is quite large if you are late to return the loan money. So make sure you are always on time to pay.

From the advantages and disadvantages of borrowing money at Shopee, it is hoped that this can be a consideration for you before proceeding with the loan process further.

Don’t just apply for a loan, without knowing the advantages and disadvantages, because it is quite risky and even becomes a loss for you.

How to Borrow Money on Shopee

Borrowing money at Shopee is actually quite easy, but you have to be careful so you don’t take the wrong steps, because the sequence of borrowing money is quite a lot.

Before proceeding with the process of borrowing money, first prepare the necessary conditions, such as:

1. ID card
2. Bank account and make sure it’s still active
3. Two mobile phone numbers, this is done if there is an emergency you can still be contacted using the other mobile number.

Make sure the personal data entered is your original personal data, not taking other people’s data. Of course this is not allowed, because it harms other people and you can be caught in a criminal act in the form of fraud.

In addition, you must be aware of yourself before making an online loan, don’t make the mistake of borrowing money with large funds, even though you may not necessarily be able to pay.

Apply for a loan wisely and according to your needs.

Here are the steps to make a money loan at Shopee:

• Open your Shopee account. Then click the account profile, then select Shopee Borrow

• Once on the Shopee Borrow page, click the “Activate Now” button. This is done to activate Shopee borrow in your account.
• Enter your mobile number to get the OTP code number for verification. Enter the verification code then click “Continue”.
• Fill in your personal data in the form of an emergency number in the column provided.
• Then click the “Start Face Verification” button. Point the camera at your face, make sure you are in a bright light, so that your face can be seen clearly.
• Wait a few moments until the loan Shopee account activation process is approved.
• Reopen the Shopee Borrow page, then click the “Apply” button

• Select the loan amount you want to borrow and also select “Loan Duration”
• Select the bank account you want to use to receive loan funds, make sure the account number is the same as the one in Shopee pay later. Then click “Continue”.
• After that, the details of the loan that you submitted earlier will appear. Double-check the nominal, term and interest to be paid, lest there be any wrong data.
• If all of your data is correct, click “Apply Now”. Then enter the Shopeepay PIN.
• Wait for a maximum of 2 working days, the money loan application will be processed, if the money loan application is approved by Shopee, then you will get a notification that the loan funds have entered your account.

But you need to know, that not everyone can borrow money at Shopee. The reason is that some Shopee users do not find the Shopee borrow menu in their shopee application or account.

The reason is that not all Shopee accounts are provided with facilities by Shopee to apply for a loan.

In fact, until now there has been no solution to this problem. The only action that can be taken is to maximize the use of the Shopee application and update to the new version.

Who knows if the Shopee application has been updated, you will immediately be given the opportunity to apply for a loan.

How to Refund Borrowed Money on Shopee

After you get and enjoy loan funds from Shopee, don’t forget to pay back the money plus the interest.

Don’t be late to pay, if you are late the fine you receive will accumulate over time, of course this will make it more difficult for you to return the loan funds.

Therefore, if you are on paycheck or have extra money, set aside your money to pay for loan funds. And here is how to return borrowed money at Shopee:

• Open the Shopee app, then go to your profile
• Click “Shopee Borrow”, then press the “Pay” button

• There is a nominal payment column, enter the amount that matches your loan bill.
• Choose a payment method, for example you use Mobile banking or ATM, then click “Pay Loans”
• Wait a few moments until your bill payment process is complete. If so, a successful payment notification will appear.

Conclusion

Earning money in a fast way is certainly a fun thing. But don’t let your eyes darken either. You use borrowed money for fun and buy lots of things not because need is a problem.

It’s a good idea to use borrowed funds to buy items that are urgently needed or are in an emergency. This is certainly more useful if you borrow money at Shopee.

Good luck with applying for a loan. Make sure you use the money wisely and don’t be late to pay bills.