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A Guide in Choosing a Safe and Fraud-Free Online Loan

Apr 26, 2021
4 Minutes

The online loans phenomenon has become a solution for people who are in need of quick cash to pay for their needs. You no longer need to queue in a bank or wait for months to disburse your cash loan. Nevertheless, finding a safe online loan is actually quite difficult, especially if you’re not careful. To help you avoid frauds under the guise of online loans, here is a complete guide in choosing a safe and practical online loan!

Choose One That is Registered and Licensed by OJK
It’s actually not that hard to find out whether or not an online loan platform is registered and licensed by OJK. This is because legal, registered, and licensed fintech will definitely insert the OJK logo on their website and application, as well as putting the statement “registered and licensed by OJK” or at the very least “registered and monitored by OJK” on their application description in App Store or Google Play.

Furthermore, OJK always updates their list of legal fintechs on their website. So, you can check them again if you’re still unsure. Remember, a safe online loan is one that officially has the license and monitoring from OJK!

Transparent Interest Rate and Fees
One of the most irresistible traps from illegal loans is the display of low-interest rates without any fine. All safe and legal online loans must submit to the rules from OJK. This means that there is some information regarding interest rates and fees that must be uncovered to the clients. 

Before choosing a loan, find out about the administration fee, interest rate conditions, tenure that you can take, late charge, as well as other fines like accelerated loan payment. Therefore, you are aware of which online loan suits your financial state. Also, do a loan simulation before registering. 

Read The Complete Terms
Even though online loans are safe without collateral, there are still requirements that clients need to fulfill before the application is accepted. Don’t see these terms as hurdles, but rather a sign that this loan is legal and safe. 

Online loan terms or requirements are far easier than conventional loans. Simply upload a photo of your KTP and other documents, such as NPWP, salary slip, or other proof of income. Learn about the terms so your online loan application runs smoothly and can be disbursed immediately. 

A Facility to Easily Check Loan Status
Since we’re talking about a safe online loan, there’s no doubt that it offers facilities to help clients control their loans. Fintech usually has a website and mobile application that are accessible to clients. Check if the fintech where you put your online loan in has a facility to check the loan status.

Make sure that this includes information like loan amount, tenure, due date, and loan interest. Not just as a reminder, but also as proof that your loan is not manipulated by an irresponsible party. 

An Agreement Contract and Customer Service
Yes, it’s practical and 100% online, but they’re still needs to be an agreement contract that binds you as the client and the fintech as the lender. Read this contract carefully, from the interest rate, tenure, to the fines. Check again to see if your personal data are written correctly.

Don’t hesitate to ask the customer service if there is any discrepancy regarding the information within the agreement contract. That’s why it’s important to choose an online loan that is safe and has responsive customer service contact info. 

Official Mobile Application and Website
As mentioned above, a safe online loan is a loan from fintech that has OJK logo on their website and mobile application. Make sure that the application is user-friendly and secure, which means that it doesn’t ask for access to personal data inside your phone. 

Then, check whether or not the website is locked. If you can see a lock icon on the left side on the website address, it means that the website is secure and does not steal personal information illegally. 

That is the complete guide in choosing a safe online loan. Avoid frauds that offer online loans without collateral by choosing PermataKTA. Registered and licensed by OJK, you can get a cash loan up to Rp300 million with an interest rate starting from 0.88%. The application process is fast and easy, 100% online via PermataMobile X. Make all your plans come true with trusted online loans from PermataKTA!

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