Characteristics of Trusted Online Money Loans

More and more activities nowadays are done online. What is often done is shopping, ordering transportation services and ordering airplane tickets, all of which can be done online. In addition, you can also get the convenience of enjoying financial facilities online, one of the popular advantages is online money loans.

In contrast to the past, when you want to borrow money, you have to go to a bank or multi-finance company. Now, loan applications can be made via smartphones. Besides being easier, applying for an online loan is certainly more efficient, because less time is wasted just by taking care of loan applications.

However, behind its convenience, you also need to know and be aware of several other things. Moreover, borrowing the origin of money from online loans is not always from the bank!

Now, many are providing online money loans that have sprung up which can also be called financial technology (fintech) companies. Because of this large amount, you must be vigilant and selective before you apply for a loan.

There are several characteristics that determine the reliability of online loans. Here are the characteristics of a trusted online loan.

OJK registered online loans

This is the most important point that you should check beforehand. One of the characteristics of a trusted online loan provider can be checked at the Financial Services Authority (OJK), and make sure it is also registered and supervised by the OJK.

because all fintechs carry out their activities in the financial department, the OJK is responsible for supervising. OJK will provide clear information to the public about companies registered with OJK.

Of course, companies that have been registered with the OJK have been considered as responsible companies and cannot be detrimental. And OJK will take action against companies that can cause problems.

Got a positive review

In addition to installing applications, application users can also give reviews as a form of their experience and impression when using loan services, and of course, trusted online money loan providers will give good testimonials.

But with untrustworthy loan providers, where users will provide the application provider with their complaints and complaints which ultimately categorizes whether an online loan is trusted or not.

In addition to user reviews and testimonials, you can also find out whether or not online money loan providers are trusted or not from the many stars given on the Play Store. If the app is showered with lots of stars, it means the app can be trusted.

Giving reasonable interest

In giving interest in online money loans by fintech, it is actually still not clear. OJK also admitted that the interest arrangement was not included in its obligations.

Then how to distinguish reasonable loan interest from those that are not? Not difficult. You just have to compare the interest rates on the loans offered. If there are still lenders who pay very high interest rates compared to others, then it is better not to borrow from that company.

Do not let you enter the trap of online loan sharks, where you only enjoy borrowing money at the beginning, but after the credit runs, you will slowly feel chased by the interest given.

The interest charged is also not the same, there are those who charge 1 percent interest per day, with a month total of 30 percent. Some even charge 1 percent interest for 12 hours! Therefore, it is advisable to be more selective of the many existing online loans, and don’t let you be disadvantaged because of the high interest.

Here are the characteristics of a trusted online loan so that you can borrow easily and safely. Credy is one of the most trusted online loans, and will soon serve the people of Indonesia.

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