In this day and age, banks are not the only financial institutions that provide loans to the public. You can try the best online loans to get fresh funds as needed.
Online loans provided by fintech companies aka financial technology have started to become part of the financial industry in Indonesia since 2016. One type of fintech company that is well known is Person to Person (P2P) because the providers of loan funds are investors who want to develop their capital.
Parent Pinters want to try this modern alternative funding? Read the information to the end!
Advantages of Online Loans Compared to Banks
There are several advantages offered by the best and fastest online loan platform compared to banks, namely:
First, the requirements for applying for an online loan are relatively easier because it does not require prospective borrowers to have a credit card and BI checking requirements. Credit history has often been the reason for rejection of loan applications by banks.
Second, the loan disbursement process is also shorter, starting from 24 hours to 3 days. Parent Pinters can compare with the bank disbursement period which can be 2 weeks.
Because it can be done via a smartphone application, the loan application process is also more practical and easier. You do not need to visit the branch office directly.
Tips for Choosing the Best Loan
So that you don't fall victim to fake loan companies that harm you, first look at some tips for choosing the best online loan 2021 below!
1. Fintech Company Officially Registered with OJK
Make sure to only choose fintech partners who have been legally registered with the Financial Services Authority. This means that in their business operations, fintech companies are supervised by the OJK (Financial Services Authority) which ensures that all consumer protection rules and regulations are carried out properly.
To get a list of official fintech companies, Parent Pinters can access the AFPI (Indonesian Joint Funding Fintech Association) website which oversees all fintechs that have official permits.
2. Provide Customer Service
Choose a fintech with customer service that is easy to contact at any time via telephone, smartphone, email, to your office address. That way you will immediately get help if you encounter a problem. Fake fintech generally do not have customer service.
3. Secure Websites and Apps
OJK requires the best low-interest online loan companies to provide websites that are guaranteed to be secure. This is done by taking several security measures on the site and database to ensure the protection of customer data.
The system used by the company must pass the information technology ISO certification from the authorized institution and pass the audit.
4. Fintech companies have clear addresses
Don't be immediately tempted by the lure of light interest and fast disbursement offered by a fintech company. Do an in-depth check, especially regarding the office address.
All fintechs that are legally registered with the OJK have physical offices whose addresses can be traced easily.
5. Looking for Information Regarding Required Data
Parent Pinters need to know loanplususa.com that fintech companies are only allowed to access three points, namely location, camera, and microphone (location, microphone, and camera).
Legal and trusted fintech companies under the supervision of OJK will not publish their customer data.
6. Looking for Information About Loan Interest Expense
Everyone certainly wants to partner with a low-interest online loan company. You should not be rash in applying for a loan before knowing the amount of interest that is your obligation.
According to OJK regulations, fintech companies are only allowed to charge a maximum interest of 0.8% per day. If the amount of loan interest is accumulated, it is also prohibited to reach more than 100% of the loan value.
