Leading up to the celebration of Eid al-Fitr or “Lebaran”, many people need money for Eid-related expenses such as travel costs, Eid clothes, gifts, and so on. Similarly, after Eid, upon returning from their hometowns, money is spent on Eid-related necessities. However, due to the multitude of impending needs, many end up trapped in fake online loan debts.
There are still quite a number of fake online lending companies in Indonesia. Many illegal online lending companies do not provide clear requirements, terms, or loan interest calculations. In the end, this makes it difficult for many borrowers to repay their loans.
It is not impossible that the personal data provided to these online lending companies is used irresponsibly. Unfortunately, cases like this cannot be reported because the companies are not registered and are not supervised by the OJK (Financial Services Authority).
Therefore, we need to be wiser in choosing and using online loans.
Tips to Avoid Fake Online Loans
Online loans can be useful for urgent needs and not for consumptive purposes. Here are steps to avoid fake online loans:
1. Check the legality of the online lending companies at the OJK
The first step to take when choosing a lending company is to check its legality. Financial and lending companies must be registered and supervised by the OJK.
OJK permits serve as consumer protection. If a company has a permit, all transactions between the company and the consumers will be directly monitored by the OJK. This allows consumers to lodge complaints if there are deviations in the company's practices.
2. Check the applications, official websites, and customer service
In addition to legality and permits, it is important to know the background of the lending company. Make sure to gather information about the company through its website, social media, and official applications.
Check if the lending company has customer service that can be easily accessed through these channels. These channels will assist consumers who want to obtain information, ask questions directly, or lodge complaints.
3. Consider loan requirements
Ease of obtaining a loan does not always mean it is good. The ease provided sometimes needs to be suspicious because the online lending companies may only be seeking profits. Therefore, recheck the terms and conditions set by the company for its consumers.
Legal online lending companies usually impose a number of requirements that must be met by their consumers. In addition, there is a loan application process that must be passed before obtaining a loan. Once everything has been done, consumers can then obtain the loan.
4. Find out about loan costs and interest rates
This part should not be overlooked. In every loan, consumers will be charged with a number of fees that must be paid to the service provider. These fees and interest rates are regulated by the OJK so that lending companies are not allowed to impose higher fees and interest rates.
If you find any online lending service providers that violate these regulations, consumers have the right to report them to the OJK. This is the best step to help protect others from the clutches of non-compliant online loan sharks.
Benefit from BCA Paylater
Instead of choosing dubious online loan services, it is better to utilize BCA Paylater services. BCA Paylater's legality is guaranteed as it is an official product of Bank BCA.
This service can be accessed through the myBCA application, from application to usage. There are many benefits to using BCA Paylater, including loan limits, tenor options, low interest rates, easy application, and more.
Apply for BCA Paylater services now from myBCA. Download the myBCA application on Play Store and App Store now to enjoy all the conveniences of banking transactions.