REPUBLIKA.CO.ID, JAKARTA -- The Financial Services Authority (OJK) has set a maximum limit of economic benefits or a new daily interest limit for users of Information Technology-Based Shared Funding Service (LPBBTI/Fintech lending) or online loans. This rule takes effect from Wednesday (1/1/2025).

Plt. The head of the Department of Literacy, Financial Inclusion and Communication M. Ismail Riyadi stated in Jakarta on Tuesday that the maximum limit of the maximum economic benefit per day for consumer loans with a tenor of less than 6 months remains 0.3 percent.

The maximum daily economic benefit limit for consumer loans over six months fell to 0.2 per cent from 0.3 per cent.

He submitted that it also set a maximum limit on daily interest for productive loans.

Borrowers from the micro and ultra micro business sectors are charged a maximum limit of economic benefit per day of 0.275 per cent for tenors below 6 months and 0.1 per cent for tenors above 6 months.

While productive loans for small and medium-sized enterprises, the maximum daily interest limit is the same for tenors below 6 months and tenors above 6 months, i.e. 0.1 percent.

In addition to setting new limits on daily interest on online loans, the FSA also strengthened the rules related to the ecosystem, including a clear distinction between professional and non-professional lenders.

Professional funders consist of financial services institutions; Indonesian/foreign legal entities; central governments, local governments, or foreign governments; multilateral organizations; and foreign individuals (non-residents).

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