Around 2 Million Indonesians Have Problems with Online Loans

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Adi Ahdiat 21/06/2024 15:07 WIB

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Based on OJK data, approximately 2 million Indonesians were experiencing difficulties repaying online loan installments in April 2024.

Number of Individual Peer-to-Peer Lending Accounts with Non-Performing/Delinquent Loans (April 2024)

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Number of Individual Peer-to-Peer Lending Accounts with Non-Performing/Delinquent Loans (April 2024)

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In April 2024, approximately 2 million Indonesians experienced difficulties in repaying online loan installments (pinjol).

This is evident from the P2P Lending Statistics report released by the Financial Services Authority (OJK).

Based on OJK's classification, online loan credit is categorized as "non-performing" if the borrower defaults on installments for 30-90 days from the due date.

If the borrower defaults on installments for more than 90 days from the due date, it falls into the "bad debt" category.

In April 2024, borrowers with non-performing loans reached 1.73 million entities, while those with bad debts reached 510,900 entities.

In total, the number of individual pinjol user accounts with non-performing and bad debts reached 2.25 million entities.

These entities with outstanding arrears represent 13% of the total number of national individual pinjol user accounts.

Meanwhile, 14.71 million entities, or 87% of other pinjol users, had no problems and fell into the performing loan category.

Editor : Adi Ahdiat

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."