The era of the COVID-19 pandemic that has lasted since 2020 has increased digital transactions. Not only shopping at online stores, now many are using other digital payment means. Not surprisingly, financial technology (fintech) applications are increasingly mushrooming. For those who are in need of a loan, fintech applications also offer loans.
Even though it seems easier, many are worried about getting caught in an illegal online loan. Moreover, there has been a lot of news about victims of illegal loans who are often terrorized and harassed because it is difficult to repay loans. Apart from being humiliated on social media, terror was also experienced by the borrower’s family and friends, resulting in the loss of everything. Online Loans
No need to be afraid, there are many ways to avoid illegal online loans
Online loan services have attracted the interest of many people. Besides being relatively easier, we don’t need to bother going to the location where the loan is given. All transactions can be directly done digitally, either via PC or mobile. Online Loans.
Unfortunately, there are many irresponsible people who later co-found illegal loans. However, there is no need to be afraid. There are many ways to avoid their traps. Here are tips to avoid illegal online loans:
1.Use a fintech application that is officially registered with OJK Online loans
To be safe, first check the list of online loans that have been authorize by the OJK (Financial Services Authority). The online loan services that are already on this list are guarantee to be safe. You can immediately report to OJK if you feel that you have been harm by the loan that you have chosen to use. Even without reporting, this loan has been directly monitor by OJK. Online Loans.
If the fintech is not on the OJK list, you should not use its services. There is no clear guarantee of consumer protection if one day you feel aggrieved.
2. Check the legality and digital track record of the loan in question
Make sure the identity of the owner and the address of the loan service office are clear. In addition, also check their digital track record. You can do this by reading the reviews of the relevant pinjol users. The number of positive reviews about the pinjol can be an indicator of security when using it.
3. You should not apply for a loan that is too large
The offer of a large loan the easy way is very tempting, especially if you happen to need a lot of money. Before confirming, you should first check the applicable requirements. Do not let you have trouble paying back at a later date.
In fact, as much as possible avoid loans whose nominal is too large. Choose the one that suits your abilities.
4.Be careful of the possibility of personal data being stolen
Every time you open any digital account, you need to fill out a bio-data registration. However, beware of biodata that requires a photo of your ID card, NPWP, and ATM card. What’s more, many fintechs also ask for personal selfie-style photos by holding an ID card.
The above method can later be misuse by parties in the digital realm. Don’t forget to double check with OJK if you still have doubts.
5.Check the terms, conditions and policies of online loans
While it may seem long and tedious, checking the terms, conditions and policies before hitting the ‘register’ button is essential. Be wary if the request data has absolutely nothing to do with the use of the online loan application.
If you are still in doubt, you can take a screenshot on the loan registration column and ask the OJK. From there, you can find out about the safety of using the pinjol.
Well, here are five tips to avoid illegal online loans. Using fintech for a variety of digital transactions is actually practical, especially in the pandemic era. However, you should remain vigilant and make careful selections to keep your finances and personal data safe.