What Motivates People to Use Online Lending Services? Survey Results

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Cindy Mutia Annur 26/10/2023 13:03 WIB

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According to a Populix survey, the majority of Indonesians use online lending services to meet their household needs.

Respondent Motivation for Using Online Lending Services (September 2023)

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Respondent Motivation for Using Online Lending Services (September 2023)

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A recent Populix survey titled *Unveiling Indonesia’s Financial Evolution: Fintech Lending and Paylater Adoption* reveals several motivations behind Indonesians' use of online loans, or "pinjol."

The results show that the majority, or 51% of respondents, admitted to using pinjol to meet their household needs.

The next most common motivation for using pinjol was business capital, with 41% of respondents citing this reason.

"People are primarily motivated to take out online loans for household needs and business capital," Populix stated in its report.

Furthermore, 25% of respondents used pinjol for work-related expenses, and 23% for educational costs.

Another 22% were motivated to use pinjol for lifestyle and entertainment, 13% for healthcare expenses, and 2% for other needs.

This survey was conducted from September 15-18, 2023, involving 420 respondents who use pinjol applications, out of a total of 1,017 respondents assumed to represent the entire Indonesian demographic.

Respondents were predominantly female (51%), with males comprising 49%.

The majority of respondents were from Java (79%), followed by Sumatra (12%), and other islands (9%).

Respondents ranged in age from 17 to 55 years old, dominated by the 17-25 age group (55%) and the 26-35 age group (31%).

Respondents were categorized as employees (56%), students (21%), entrepreneurs (11%), housewives (6%), and others (6%).

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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