Bad Loan Risk in Online Loans Rises to 4.54 Percent, Dominated by Young Age Group
JAKARTA, KOMPAS.com — The Financial Services Authority (OJK) records that productive financing in the online lending (pinjol) industry continues to show a growth trend up to March 2026, although its portion relative to total financing is still in the process of increasing.
The Executive Head of Supervision for Financing Institutions, Venture Capital, and Other Financial Institutions (PVML) OJK, Agusman, stated that the outstanding productive financing in the pinjol industry as of March 2026 recorded significant annual growth.
“Outstanding productive financing in the Pinjol industry as of March 2026 grew 23.40 percent year-on-year (yoy) to Rp34.66 trillion,” Agusman said in a written response during the OJK Monthly Commissioners’ Meeting on Thursday (7/5/2026).
Nevertheless, Agusman emphasised that the increase in outstanding value has not yet been fully accompanied by a rise in the portion of productive financing relative to the total pinjol industry financing.
“This growth trend indicates that the development of productive financing continues, although the portion of outstanding productive financing relative to total outstanding pinjol industry financing is still in the process of increasing,” he said.
OJK previously targeted the portion of productive financing in the pinjol industry to reach 40 to 50 percent by the end of 2026.
However, amid various challenges such as economic dynamics, limitations in business feasibility data, and supporting infrastructure, achieving this target still requires sustained efforts.
Agusman said that optimising the portion of productive financing will continue to be driven through several strategies focused on strengthening the quality of financing disbursement.
“Going forward, the optimisation of the portion of productive financing will continue to be encouraged, among others, through strengthening disbursement capacity and improving the quality of credit analysis, so that the portion of productive financing can increase gradually while still upholding prudence principles and consumer protection,” Agusman stated.
On the other hand, OJK is also monitoring the increase in bad credit risk in the pinjol industry, reflected in the rise in the default rate over 90 days (TWP90).
Based on data as of March 2026, the TWP90 in the pinjol industry experienced an increase compared to the same period the previous year.
In fact, in February 2026, TWP90 was recorded at 4.54 percent, higher than February 2025 which was 2.78 percent.