Today, quite a lot of multipurpose credit companies carry out their operations online. Of course, this becomes an advantage for you, when you need an injection of funds for various purposes. Because it is related to money, the company where you can submit an online loan application is still monitored for its activities by the OJK, a financial service institution in Indonesia.
However, of course, you can't just choose a loan that feels easy and safe. To avoid bad loans and other problems in the credit process, OJK also has its own provisions. These provisions can also be your reference when choosing a financial loan product.
1. Tips for Safely Submitting an Online Borrowing Application
Before applying for a money loan, it's a good idea to first check the list of financial companies that have been registered with the OJK. A registered company means that it has complied with government regulations and regulations regarding online-based credit services.
The following are some signs of loan services that have been registered with the OJK:
1.1. Legal
Trusted online loan companies certainly have legality in the form of business entities. This has the aim of providing protection for consumers who apply for loans. The legality of the company is also a value for its own credibility, related to its financial health. If likened to, how could a company that is not financially sound help your financial needs?
1.2. Interest
Online loan providers generally apply a daily interest system. Now, the nominal interest applied by an OJK licensed company must not exceed 1% per day. OJK views this regulation as a step to reduce the possibility of bad credit during the credit period.
1.3. Customer Care
Another criterion that a trusted online loan company must have is the availability of services for customers, which are commonly referred to as call centers. OJK requires lending companies to have this division to handle customer complaints. So, choose a fintech company that has a fixed phone contact number, yes.
1.4. Transparency
All transaction activities between finance companies and their customers must be carried out as transparently as possible. The element of transparency, in this case, is that customers or prospective customers must know from the start about the interest applied, maturity, calculation of fines and sanctions, and other sensitive matters.
The purpose of transparency according to OJK is so that customers can manage their finances after getting a loan. In the end, OJK always hopes that online bank customers will not be trapped in a debt hole because they fail to understand the provisions in lending and borrowing money online.
1.5. Loan Application Status
One aspect of online loans is the speed in all the processes. Starting from submission, verification, to disbursement of funds. All these processes can even be completed in just one day.
Well, a trusted finance company should have a place so that its customers can monitor the status of the application. How far has the process been, whether or not the application submitted has passed? This convenience is one part of the transparency described in the previous point.
These are some of the points that characterize an online loan application service that is easy and has high credibility. If you need a quick and easy financial solution, BFI Finance is here to support all your financial needs.
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