Indonesian Public Fond of Using Online Loans, Debt Reaches Rp101 Trillion

The Financial Services Authority (OJK) has recorded significant growth in Indonesia’s digital financing industry up to March 2026. Outstanding online loans or pinjol continue to rise, surpassing hundreds of trillions of rupiah.

This was revealed by the Executive Head of Supervision for Financing Institutions, Venture Capital Companies, Microfinance Institutions, and Other Financial Service Institutions at the OJK, Agusman. He stated that the distribution of online loans or pindar still records high annual growth.

“Outstanding financing in the online loan or pindar industry in March 2026 grew 26.25% year-on-year to Rp101.03 trillion,” said Agusman on Tuesday, 5 May 2026.

Looking at this achievement, the total online loan debt in Indonesia shows fairly aggressive expansion over the past year, in line with the increasing financing needs of the public through digital platforms.

Despite the high growth, OJK notes that the non-performing loan risk in the online loan sector remains at a level that needs to be watched. The delinquency rate over 90 days or TWP90 is recorded at 4.52% in aggregate up to March 2026.

This figure indicates that financing growth is still accompanied by challenges in credit quality that are not yet fully stable. In addition to online loans, OJK also recorded the performance of the financing or multifinance industry.

In March 2026, financing in this industry grew 0.61% annually to Rp514.09 trillion. Agusman explained that this growth was mainly supported by multi-purpose financing, which increased 6.51% annually.

On the other hand, venture capital financing experienced a contraction. OJK recorded a 0.95% annual decline with a financing value of Rp16.57 trillion in March 2026.

In contrast, the pawnshop industry recorded much higher growth. Financing distribution rose 60.27% annually to Rp153.49 trillion.

“The largest financing was distributed in the form of pawn products, amounting to Rp127.99 trillion or equivalent to 83.33% of the total financing distributed by the industry,” Agusman concluded.

Overall, OJK data shows that Indonesia’s financing industry is still growing with an uneven pattern. Online loans and pawnshops record strong growth, while multifinance grows limitedly and venture capital experiences contraction. On the other hand, credit risk in the online loan sector remains a primary concern as financing distribution increases.