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?
Criteria for Trusted Online Money Loans
Based on the experience of observing this business, here are a number of important criteria about trusted online money loans.
# 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.
This is a list of online loans at OJK. You can check on the list.
# 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 at the beginning or not when applying for online money loans without guarantees and conditions
# 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.
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.
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