Young People Use Online Loans to Buy Goods and Pay for Education

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Erlina Fury Santika 11/02/2025 18:41 WIB

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Inventure's survey results show that young middle-class Indonesians utilize online lending services for a variety of purposes, primarily for purchasing electronics and consumer goods.

Respondent Proportions Regarding Peer-to-Peer Lending Utilization (September 2024)

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Young People Use Online Loans to Buy Goods and Pay for Education

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Respondent Proportions Regarding Peer-to-Peer Lending Utilization (September 2024)

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A report by Indonesian research firm Inventure Indonesia shows that 34% of respondents from the Gen Z and millennial middle class used online loans (pinjol) in the six months prior to the survey conducted in 2024. The remaining 66% did not use them.

Those who used online loans utilized the funds for various purposes. The largest portion, 61%, was for purchasing consumer goods, including electronics, gadgets, and household appliances.

Next, 35% of respondents used the loan for shopping, including clothes, shoes, and other items, both online and offline.

Furthermore, 27% used the loan for business capital.

Another 23% used the loan for socializing and leisure activities, such as buying coffee, transportation costs, meals, and shopping during vacations.

Meanwhile, 18% used the loan to cover daily living expenses, such as food, fuel, and household needs.

Another 13% used the loan to pay installments, such as settling existing installments or consolidating loans.

Finally, 5% used the loan to pay for education expenses, such as tuition fees and other related costs.

In general, the survey involved 450 middle-class respondents, with 60% millennials and 40% Gen Z. The gender composition was 53% male and 47% female.

Inventure also categorized the sample based on household expenditure: 79% were from the middle class-A2 with expenditures of Rp2.1 million to Rp9.6 million; 14% were from the aspiring middle class-B with expenditures of Rp900,000 to Rp2.1 million; and 7% were from the upper middle class with expenditures exceeding Rp9.6 million.

The survey was conducted using a face-to-face method in five major cities—Jabodetabek, Semarang, Surabaya, Medan, and Makassar—in September 2024.

Editor : Erlina Fury Santika

"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."