Most Indonesian Online Loan Users Are Middle Class

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Adi Ahdiat 24/07/2024 14:34 WIB

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According to research by Mandiri Institute, the majority of online loan users in Indonesia come from middle-class households.

Proportion of Indonesian Households Using Online Loans (2023)

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Proportion of Indonesian Households Using Online Loans (2023)

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In Indonesia, users of online lending services (pinjol) predominantly come from middle-class households.

This is recorded in the report, *Financial Inclusion from the Perspective of Indonesian Household Spending Classes*, released by Mandiri Institute.

Based on data from the Central Statistics Agency (BPS) processed by Mandiri Institute, in 2023, 0.25% of Indonesian households using pinjol belonged to the middle class.

Households using pinjol that are categorized as aspiring middle class accounted for 0.21%.

"Access to online loans by these two spending groups is quite high, driven by the ease of access to services compared to borrowing from commercial banks," stated the Mandiri Institute team in their report.

Meanwhile, pinjol users from poor, vulnerable, and upper-class households represent a smaller proportion, as shown in the graph.

Mandiri Institute categorized household economic classes based on the following criteria:

* Poor: per capita expenditure below the poverty line (PL)
* Vulnerable: per capita expenditure between 1 and 1.5 times the PL
* Aspiring Middle Class: per capita expenditure between 1.5 and 3.5 times the PL
* Middle Class: per capita expenditure between 3.5 and 17 times the PL
* Upper Class: per capita expenditure above 17 times the PL

According to the BPS report, the national poverty line (PL) in March 2024 was Rp582,932 per capita per month.

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."

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