Online loans or borrowing are currently an alternative choice for those who need fast and easy money. This is because in practice, loans are disbursed quickly and with simple conditions, that is, the borrower only needs to enter some data and a photo of an Identity Card ("KTP") to get a loan. It is this ease of procedures and requirements that encourages people to borrow money through loans.

The difference between illegal online loans and legal online loans

In principle, a loan is declared invalid not because there is a threat of billing or high interest charges, but because the provider of the loan is not registered and does not have a permit from the Financial Services Authority ("OJK").