Welcome to IT People Blog. For those of you who need emergency funds and can be disbursed in a short time, without many conditions and bother leaving the house, you can apply for an online loan to several digital-based financial institutions such as banks to fintech (financial technology) aka borrowing but you have to be careful because nowadays there are more illegal loans than legal
Of course, this illegal loan has a series of adverse effects on the borrower, ranging from non-transparent interest, short tenor, collecting even though it is not yet due in a rough collection, to borrowing outside the authority (for example, borrowing 1 million but transferring 2 million).
In this post, I will share tips for choosing an online loan (even though this includes usury) at least to reduce the drama of online loan victims who feel aggrieved until someone runs away and even ends up getting caught in a fake loan game.
1. Make sure the loan is officially registered with OJK
Before deciding to borrow online and send privacy data to fintechs, make sure the company is officially registered and supervised by the OJK (Financial Services Authority) to facilitate transparency of regulations, regulations and consumer protection in accordance with applicable legal provisions.
Don’t believe the OJK logo on the loan application because it could be that the loan has been kicked out of the OJK legal loan list because of a violation or an illegal application that has the OJK logo installed, download the latest list of OJK licensed fintech lending providers here
Or contact OJK contact 157. Via WhatsApp at number 081157157157, or telephone at 157 and you can also email to [email protected]
2. Customer complaint service is available
I think every professional company must provide customer service or customer service, some illegal online loans do not provide customer service or do not provide any response to incoming complaints, therefore before borrowing maybe you should try to communicate with a complaint service
Also make sure the loan company you borrow from has an official phone number, a clear office address and a professional email (not gmail or yahoo)
3. Website can be accessed
OJK itself requires registered legal fintechs to have websites and applications that are guaranteed to be secure with proof of ownership of ISO certification and pass a system audit to protect customer personal data so that it is not misused by illegal loans.
Maybe you need to do an online scan with an application like Antivirus or Antivirus Online to scan the website to make sure there are no malicious scripts in it
Examples of online virus scanner websites: virustotal.com, f-secure.com
Read also: Sholawat Jibril ATM machine withdrawal
4. The company location address is clear
The company’s phone number and email address must be officially registered, besides that the location of the address must also be validated because most of these illegal fintech loans only ride a room in a building or maybe a boarding house hehe
OJK requires all registered loans to have a physical office address that can be easily traced, if the address is fake (long-winded) it should be avoided so as not to fall into loan traps which will complicate your life
5. Find the access rights of the pinjol
When we install the pinjol application, in fact the application is only officially given permission to access 3 features including camera, mic and cellphone location
So, legal lending companies will not ask for access to contacts or photo galleries because regulations from the OJK prohibit taking and publishing the personal data of prospective borrowers. This application permission can be seen in the application manager settings on each Android smartphone or when you first install the application
While the illegal loan application will backup all contact data and customer gallery contents to their server, it’s scary
6. Understand the loan interest expense
Most lending companies, both legal and illegal, usually lack transparency in terms of tenors and loan interest charges, so both are equally stifling, especially for borrowers who just apply without knowing the amount of interest that must be paid.
According to OJK’s own rules, borrowing companies can charge a maximum loan fee of 0.8% per day and the accumulated interest must not exceed 100% of the total loan, while illegal lending out there as we know charge suffocating interest up to 300% of the total loan.
Those are some tips from me on how to choose a financial institution to apply for an online loan so that in the future there will be no drama forced to sell inheritance or get stuck because you are stuck with fake online loans.
Even if you see an ad that says light interest to fast disbursement in minutes, don’t believe it, it’s all a hoax. Learn more about the rules and terms of service thoroughly
Instead of getting entangled in online loans, it’s better from a long time ago you have been disciplined in saving, you can invest in mutual fund products or time deposits, but also make sure the financial institution where you save your savings is safe and reliable. That is all and thank you