Official Online Loans – With the current situation, there are lots of official online loan applications or usually called loans which are very easy to access by the public easily and for free.
However, what you should know is that not all online loan applications are legal, credible and safe when used.
Therefore, for those of you who plan to apply for an online loan, there are several important things that you must know is to check with the service provider first.
This requires permission from the Financial Services Authority (OJK) which is the official state institution that provides supervision of the activities of various financial services in Indonesia.
One of the requirements to be able to get a business license from the OJK is so strict that it is highly recommended so that you are more protected from various kinds of potential fraud and being trapped in illegal loan services and suffocating interest rates.
Then how do we know if the online loan service is the best and has been registered with the OJK.
The following are some ways that can be done to check whether the online loan service has been registered with the OJK.
How to Check Online Loan Status at OJK
The main threat from using this loan application service is that it comes from services that are illegal and not registered with the OJK.
This results in not having conformity with what OJK regulations have issued which have high interest and short repayment tenors so that they can suffocate its users.
Therefore, before you decide to make an online loan, you must first check the OJK registered status or not.
The OJK will be tasked with regulating, supervising, and investigating all financial activities in Indonesia. Here’s how to check the status at OJK:
Check directly on the OJK website
The first way you can do to ensure an official OJK online loan is by checking directly on the OJK website.
On the main page click on the menu Public Choose news and activity options then click publication.
On the following page you can search for publication news “Registered and Licensed Fintech Operators at OJK”, on this page will provide information on the list of online loans registered with the latest OJK.
Contact OJK directly
Not only can it be passed on the publication page which can be accessed through the official website provided by OJK.
How to check the OJK online loan can contact the contact provided by the OJK and ask directly. The official OJK contact is at (021) 2960 0000, or via email.
Check via Whatsapp
The way to check the next illegal loan application is via Whatsapp message, OJK has provided an official hotline that can be contacted to prove the legality of the loan.
Here is the official way to check via Whatsapp:
You can chat Whatsapp on the number 081157157157. In the chat column you type the name of the pinjol that will be checked.
For example, “uang.com”, then send the message. Then the bot will do a search, whether the loan is registered or not with the OJK.
Features of Illegal Online Loans
The rise of online loan applications today makes irresponsible people take advantage of them to make losses to others.
These are the characteristics of illegal online loans, based on the appeal of the investment alert task force:
- Offering loans through private communication channels, be it SMS or instant messages privately without having the consent of the consumers.
- Does not have official permission from OJK.
- Does not have an office address and his identity is not clear.
- Giving loans is so easy.
- Information on interest and penalties is not transparent.
- Has unlimited interest.
- The fines are getting bigger and bigger every day.
- Billing it has no time limit.
- Access all the data in the cellphone.
- Providing threats of violent terror, defamation, insults, distributing private photos and videos belonging to its users.
- Does not have a service for complaints.
Before you decide to use an online loan to fintech peer-to-peer First, understand the following:
- Choose an official online loan that has been registered with the OJK.
- Do not borrow more than the limit and adjust it to your needs and abilities.
- Make loans with productive interests.
- First understand the costs, benefits, interest, fines, timeframe, and also the risks before borrowing in an online loan application.
Advantages and Disadvantages of Online Loans
This online loan has advantages that other credit service providers do not have so that it is in demand by the public.
Advantages From Online Loans
To be clear, the following are the advantages of this online loan:
Submission is easy and practical
One of the main reasons why this pinjol is popular in the community is the process of applying for it is very easy and so practical.
The submission process is done online and there is no survey and interview process that has to come to the branch office.
You only need to use a smartphone and an internet connection, you can apply for an online loan and it can be transferred directly to the intended account number.
Funds can be disbursed instantly
Funds from this online loan can be disbursed instantly, even it only takes a matter of minutes after the application is approved.
This makes borrowing as one of the most appropriate alternatives which makes it a solution in order to solve very urgent financial problems.
Simple and easy terms
If we are going to make a conventional loan, of course, it will require conditions that are not easy, especially you have to give one of the assets that you have to be used as collateral.
This will be inversely proportional to if you apply for an official online loan that only requires a few files such as an ID card, NPWP and also a payslip.
There are several trusted online loans that ask you to prepare a number of documents that serve as support, so that you can make the application process smoother.
Disadvantages of Online Loans
This online loan also has drawbacks that prospective users must know, including:
Applying the daily interest system
If conventional credit and KTA will provide loan interest calculated monthly, it is not uncommon for several low-interest online loan applications to in fact provide interest on a daily basis to their customers.
If you take a short payback period, this daily interest won’t feel burdensome, but if it’s for a long time and for months and you forget the calculations, this will only burden customers more.
Limited lending platform
Its users will be given a limited limit. If conventional credit provides a limit of up to tens or even hundreds of millions in this online loan, users can only be given a limit of hundreds of thousands or tens of millions.
This is done so that the borrower can minimize the risk of loss when his lineage cannot pay it off.
The tenor in repayment is much shorter
In addition to having a very limited platform, online loans also have a much shorter tenor.
On average, these online loan service providers will only give leeway to creditors to be able to pay off bills that have a period of no more than six months.
You always need to remember if you are going to make an online loan, the longer the tenor you want, the higher the interest you will get.
Try to have the right tenor so that the installments from the loan are more accessible financially and the interest expense you have is not too much and the bills you get don’t get bigger.
It is wise to use online loans by adjusting your needs and your ability to pay them.
The thing that you must always remember when applying for an official online loan is that you don’t apply for an online loan so you can only meet short-term needs and it’s not important because it will definitely harm you in the future.
Take advantage of the advantages of these online loans to better be able to overcome various very urgent financial problems.
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