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Criteria for Trusted Online Money Loans

the recent flood of money loan offers has made many confused. How do you find a trusted online

money loan? Online loan officially registered with OJK. In the past year, Indonesia"s financial world

has been flooded with the phenomenon of online loans. Driven by the P2P Fintech company which is

expected to replace loan moneylenders who have been the choice for people who have difficulty

getting loans without guarantees and conditions.


Its growth is amazing because 2 years ago we barely heard about fintech personal loans online. At

present no fewer than 40 online loan companies are registered with OJK. That number has not yet

taken into account online loan applications that have not been registered with the FSA. It is suspected

that the number that has not been registered reaches more than 200 applications.


On the one hand, the offer of this product is a solution. For example, money loans with only ID

conditions, which are expected to facilitate the community, can be realized. Which previously was very

difficult, for example, borrowing 20 million without collateral. But, in the condition of the many online

company offers, the question arises where are online money loans trusted? How to choose a trusted

online money loan?


# 1 OJK Registered Online Loan

This is the main condition. OJK stipulates that all online money loans must be registered with OJK.

Why is a trusted online money loan must be registered with the OJK? First, online loan companies

must have clear legality. Not stupid! Although the promise of an online money loan is immediately

liquid, but if the company does not have clear legality, it has not been registered with the FSA, it

should not be used. The risk is too big. Not only because the place of borrowing money is easy, it is

chosen, but also make sure the legality. Because this is related to consumer protection as well.


Second, by being registered with OJK, customers have consumer protection because online loan

companies must comply with the rules, ethics and behavior set by the regulator. We have heard about

direct online loans without collateral that do improper billing methods which people complain about

and become viral on social media. These inappropriate methods can be minimized and minimized if

they are registered because there are a number of provisions and ethics about debt collection in

appropriate and dignified ways.


By being registered with the OJK, online fintech companies must at least follow the provisions of the

OJK that prohibit and will take firm action and ethics of improper collection to customers. There is

legality protection for consumers for arbitrary behavior.


# 2 Customer Service Clear and Easy to Contact

It should be ensured that a trusted online money loan has clear and easy to contact customer service.

This is important because if a problem occurs the customer can quickly contact the online loan

provider. Even though it is done online, contact centers are a must-have thing. In OJK provisions,

online credit providers must provide services to resolve customer complaints.

What needs to be considered is that some private cash loan providers only provide contact via email

or chatbot but do not provide telephone numbers to be able to speak directly. We recommend that you

have a fixed line telephone number because it will be easier to contact.


# 3 Transparent

Is that transparent? The existence of Fintech technology makes the transaction process more

transparent than when the submission process is still manual and face to face. With the application of

online unsecured loans, prospective customers should be able to know clearly and transparently up

front, before the loan is approved, about how much interest, maturity and other related costs.


By being transparent, customers should be able to understand the discount - a deduction of fees


charged when applying for an online loan without collateral. Everything was clear from the start. One

example is a "calculator" on the front page before customers apply for an online loan. In the calculator,

the customer is able to know clearly how much the loan can be submitted, how much the cost or

interest and how long the tenor and the maturity date.


Trusted Online Loans, Keep in mind that fast online money lending places have various types of fees.

Admin fees, service fees and late fees are the types of fees that are commonly applied. The problem

is that there are loans without conditions and guarantees that the cost components are not

transparent. These things need to be confirmed and clearly seen. Whether the cost deduction is clear


# 4 Easy to Check Loan Status

Speed ​​is a very important thing. Because it needs a loan of money immediately without

collateral. It must be the borrower"s hope that the online loan is immediately liquid. Can a loan

guarantee without a process 1 day. This is one example of a trusted online loan that gives the

borrower the flexibility to check the loan status.


Online money loans are trusted fast. However, in fact not all online loans are fast. Money lending

decisions without guaranteed full fast processing are indeed in the hands of online application

companies. The most important thing is that the borrower can see the submission status. Is the status

still in process, rejected or approved. In addition, the ease of knowing loan status shows the

seriousness of a trusted online money loan company in serving customers.


# 5 Keep their promises

Unconditional online loan companies are promises often spoken in advertisements and promotions.

But, is it true without conditions? Is it really possible to borrow 10 million without collateral or borrow 5

million fast. Is it true that you borrow 5 million without collateral. The promises that need to be found

out are the truth. How can the loan fund without immediate liquid guarantee be truly realized?

OJK Unregistered Online Loans. Of course, which is no less important and urgent, is to determine

online loans that are not registered with OJK. First, the OJK Investment Alert Task Force has

suspended 231 Fintech Peer-To-Peer Lending activities. Online loans that are known to be not

registered with the OJK are terminated.

Second, a very strict prevention and handling of Fintech online loans is not registered with the OJK,

with the steps of the OJK as follows.


Announce illegal Fintech Peer-To-Peer Lending to the public. Submit website blocking and application

regularly to the Ministry of Communication and Information of the Republic of Indonesia.

Deciding financial access from illegal FintechPeer-To-Peer Lending. He conveyed an appeal to the

banks to reject the opening of an account without OJK recommendations and confirm to the OJK for

existing accounts that were allegedly used for illegal Fintech Peer-To-Peer Lending activities.


Asking Bank Indonesia to ban the Fintech Payment System to facilitate illegal Fintech Peer-To-Peer

Lending. Submitting information reports to the National Police Bareskrim for law enforcement

processes. Increased role of the Indonesian Joint Funding Fintech Association (AFPI) for handling

illegal Fintech Peer-To-Peer Lending. Education and socialization to the community on an ongoing

basis to use legal Fintech.


Conclusion. For those who need a money loan now, loan money without collateral and any conditions

is one of the solutions offered by the Fintech company. The amount is currently quite a lot as a place

to borrow money other than the bank. The problem is, not all fast money loans without these

conditions can be trusted. We deliver 5 criteria for trusted online money loans.