Online Lending Trend Increases During Ramadan, Influenced by FOMO?
REPUBLIKA.CO.ID, JAKARTA – Online lending (pinjol) disbursement has been recorded to increase during Ramadan. Data from the Financial Services Authority (OJK) shows that the trend of increasing pinjol has occurred for two consecutive years, namely in Ramadan 2024 and 2025, with disbursement still dominated by consumer financing.
An economics expert from IPB University, Dr. Ranti Wiliasih, said that the phenomenon of the increasing popularity of pinjol during Ramadan tends to be influenced by FOMO (fear of missing out), the desire to follow trends, and the tendency to imitate other people’s lifestyles. According to her, Ramadan, which is synonymous with increased consumption, often encourages people to increase their spending. Unfortunately, not all of this increase is matched by adequate financial capacity.
“Most pinjol is used for consumptive needs, not productive ones, so it has the potential to cause financial problems in the future,” she said in a written statement, quoted on Friday (27/2/2026).
Ranti said that loans for consumptive needs should be avoided. Loans should only be considered in urgent conditions, such as medical needs, disasters, or calamities.
She explained that pinjol, which was initially considered a quick solution, could actually become a new source of problems when borrowers are unable to repay their obligations on time. Moreover, other, more urgent life needs often arise during the repayment period.
“The problem gets worse when interest rates increase, so the debt becomes even bigger,” said Ranti.
In addition to the burden of interest, another risk that needs to be watched out for is unethical collection practices, such as defamation, spreading personal data, and even harassment of borrowers and their families. This condition not only has an impact on finances but also on mental health.
Ranti also reminded the importance of adjusting spending to individual financial capabilities. “Don’t be ashamed if our lifestyle is different from others. In fact, we should be ashamed if we borrow money for unimportant things just to look cool,” she said.
For those who are already trapped in pinjol, she advises looking for alternative interest-free loans with longer repayment periods to cover the pinjol debt. “This bridging loan can ease the burden and provide temporary relief, because being trapped in pinjol can be very disruptive and damage mental health,” said Ranti.
She invites people to get used to living according to their means so that their finances remain healthy and their hearts are more at peace. “Because only with peace will we always be grateful to Allah SWT,” said Ranti.