Want to Borrow Money from Online Lenders? Here are OJK's Essential Safety Tips

JAKARTA, KOMPAS.com – The ease of accessing loans through mobile applications has made fintech lending services, or online loans (pinjol), increasingly popular among the public. The quick process without face-to-face interaction is the main attraction of pinjol, especially for those needing funds in a short time. However, behind this convenience, the Financial Services Authority (OJK) reminds of the importance of understanding the mechanisms, risks, and rights and obligations before using this service. “The users are lenders and borrowers. They can be individuals or legal entities that meet the criteria set by the Fintech Lending Organiser,” said OJK, quoted from the regulator’s official document, Sunday (12/4/2026). Lenders can come from individuals or legal entities, either local or foreign, as long as they meet the specified criteria. Meanwhile, borrowers are Indonesian citizens or local legal entities that meet the requirements to receive funding. “Fintech Lending can provide quick funding disbursement, (mostly) without collateral, and easier requirements/process because it can be done remotely using a smartphone,” said OJK. This ease is one of the factors driving public interest in online lending services, both for productive and consumptive needs. Behind this convenience, OJK emphasises risks that need to be understood, especially by lenders. OJK also adds that delays or failures to pay by borrowers not caused by system errors are not the responsibility of the fintech lending organiser. On the other hand, for borrowers, it is important to understand all terms and conditions before applying for a loan, including interest, fees, and repayment mechanisms. OJK stresses that the first step before applying for a loan is to ensure the legality of the organiser.