OJK Shares 4 Tips for Applying for Loans on the Pinjol Application

iwanrj.com – Jakarta – The Financial Services Authority (OJK), provides tips to the public when applying for loans in online loan applications (Pinjol), so that people do not borrow money excessively and have difficulty paying off debt bills.

According to OJK Financial Technology Supervision Director, Tris Yulianta online loan application or Peer-to-peer Lending (P2P), can be an option for the public and MSMEs that are not touched by banking or unbanked.

“Many of our people use P2P Lendingespecially the people who unbanked or those who have difficulty applying for loans to banks,” said Tris Yulianta at the Halalbihalal event with the media in Jakarta on Friday (05/05/2023).

It’s just that not a few people are not careful when they want to apply for a loan using a loan. This is of course very unfortunate so Tris Yulianta provides some tips when wanting to apply for a loan in the loan application.

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4 Tips for Applying for Loans on the Pinjol Application

There are at least 4 tips before applying for a loan in the loan application, based on the narrative from Tris Yulianta from the OJK.

1. Don’t apply for loans in illegal loan applications

First of all, before applying for a loan, be sure to check the name of the application on the official OJK website. The aim is to ascertain whether the application is registered with the OJK or not.

“There are still many illegal loan applications even though we have banned them. In fact, starting this month, we have been working with Google so that if an illegal loan application appears on the Play Store, it goes straight to it take down,” continued Tris.

Especially for illegal loan applications, Tris also asked the public to report to the OJK if they find an application fintech illegal.

2. Apply for a Loan for Productive Needs

Tips before borrowing in the next loan application are to use funds for productive needs, for example for business. The reason is because if you borrow money for productive needs such as for business and to support work, users can pay their debts on time.

“By borrowing money for productive needs, people can pay it on time and in the short term,” said Tris.

3. Don’t Borrow Excessive Money

When borrowing money in fintech applications, make sure not to apply for large loans. People have to think about the amount of their monthly bills because the bigger the loan, the bigger the bill.

The maximum amount of monthly bills is 30% of total income, so that people’s finances can be maintained.

“Borrow according to ability, and do calculations in detail before applying for a loan,” Tris suggested.

4. Read the Loan Agreement Carefully

Tips before applying for a loan in the last loan application are to read the loan agreement carefully, so that you really know the rules and consequences when applying for a loan in the application.

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This is information about some tips before applying for a loan in the loan application from the OJK, and hopefully it can be a guide for you. [NM/HBS]