Online loan services, which for several years have been very popular among the people, do have advantages over conventional loans. For example, the registration process is faster and easier.
But behind the convenience and speed offered, you must be more careful in choosing an online loan service. Because at this time there is a boom in the sale of personal data by irresponsible parties. These individuals sell the data through websites or social media at prices varying from hundreds of thousands to millions of rupiah.
People who usually buy stolen data are certain to be used for negative things such as fraud that extorts victims to make a lot of profit. After the action was successful, the fraudster ran away with the money from the fraud. There have been many cases like this that happened, very disturbing and detrimental to the community.
Don’t get carried away with the fast process, you also have to find out the credibility and security that the company has. Therefore, it is important to recognize a secure loan application. How the heck?
Registered at OJK
The government already has institutions that control and supervise finance companies, namely Bank Indonesia (BI) and the Financial Services Authority (OJK). So that people can safely borrow from finance companies that have been registered by the OJK. But unfortunately, there are still many fintech companies that have not been registered with the OJK.
During 2018-2019, at least 1,230 Fintech Peer-To-Peer Lending entities are known to be unregistered or have business licenses from the Financial Services Authority (OJK). Potential to harm the community in accordance with POJK Number 77 / POJK.01 / 2016.
Therefore, do not just apply for a loan before checking the list of loan companies on the OJK official website. Lite Lending is an online lending institution that is officially registered with OJK, so that its security is guaranteed.
Read the Terms and Conditions
You also need to more carefully and thoroughly consider the terms and conditions of fintech applications that have been downloaded, because there are some online loan cases that provide bonuses or additional limits when granting access to many applications on your smartphone. If it is outside the fairness that has been determined by the FSA, then the access agreement should be denied for the sake of no misuse of user data or application data that is on your smartphone.
Choose Loans with Low and Transparent Interest
Transparency of interest and service fees are also very important. Because there are many cases of online loans with unlimited interest and penalties or 1% interest per day, you should avoid these online loans because they don’t make sense.
Many online loans also lure low interest but do not provide information about admin fees or other fees that can be hidden behind it. This has caused many victims to be in debt because the bills swell unnaturally.
Lite Lending, is an online loan application that offers low interest rates and displays all costs transparently. Interest is charged from 2.95% to 4% per month, with administrative costs at the beginning of the disbursement of funds. All loan simulations, including interest and additional fees charged, will be displayed transparently in the application before you agree to the loan agreement. So, there are no hidden costs.
If we are more clever in choosing an online loan which gives more convenience, comfort and security, a lot of benefits can be obtained.