Tips for Avoiding Loans, These are UM Surabaya Lecturer's Suggestions

• 20 Aug
• 2022

Foto: Pinjam Online Abal-abal (Fauzan Kamil/Infografis detikcom)

Tips for Avoiding Loans, These are UM Surabaya Lecturer's Suggestions

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• By Uswah Sahal
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Financial technology (fintech) continues to grow today, including online lending service companies. Currently, loan service providers are mushrooming because of the ease of accessing loans from service providers to prospective borrowers.

Even so, the public must remain careful when making loans online because currently there are many online loan service providers (pinjol) that are still illegal and have not been registered with the Financial Services Authority (OJK).

Fatkur Huda, an Economics Lecturer at UM Surabaya, in his statement explained that the higher the public's interest in making loans through applications, the more illegal loan sites will offer loan funds which will actually have fatal consequences in the future.

Fatkur shares tips on how to avoid pinjol. If forced to need someone need to pay attention to several things. First, use an OJK-licensed fintech lending.

"The important thing that can be done by the public is to look at the data that is always updated by the OJK about licensed operators. This is meant if there are things that are detrimental to the public, they can report them to the OJK," said Fatkur on Saturday (20/8/22)

Both legal and logical checks. According to Fatkur, ensuring the legality and track record of financing service providers is an effort to keep people from getting caught up in illegal online loans.

“This can be done by reading the reviews of the institution's customers. Ensuring the identity of the owner and the office address listed is also part of the effort to ensure that the institution really exists," he added.

The three sizes are according to needs and abilities. Often people are tempted by offers made by online lending institutions, both in terms of very simple requirements and the provision of a large amount of funding that is easy to disburse.

“A large amount will trigger a large loan interest if there is a payment beyond the due date. Of course it will make the burden multiply if there is a payment beyond the due date," he said.

Fourth, understand the terms and conditions. It is important for someone to understand what benefits will be received, understand the fees charged, understand the interest on the loan, understand the fines when they are due, and understand the risks. Understanding these provisions will make someone much more careful in deciding to make an online loan.

Fifth, be aware of personal data theft. Often we are stuck with registering on the application. In the practice of illegal online loans, personal data is often personal data, such as photos of ID cards, NPWP, and ATM cards. Especially now that verification can be done simply by including a selfie photo holding a KTP.

"If the data is already in the institution providing illegal fintech lending services, it will become a chain of interest provided by illegal loans," concluded Fatkur.