Jenius Survey: Public Debt Interest Increases During Ramadan 2024

Illustration. (Photo: Doc. Antara)

JAKARTA - Jenius, one of the banking products from Bank BTPN launched a survey entitled "Jenius Study: Savvy Digital Community Behavior during Ramadan & Ahead of Eid Al-Fitr 2024" which was conducted on February 28-18 March 2024.

In the study, it was known that the number of digital savvy people who chose the option to take loans increased by 13 percent, or as much as 35 percent of them planned to be in debt to anticipate extra needs during the Lebaran homecoming.

"According to the survey results, as many as 35 percent of them plan to take loans during Ramadan 2024 for various purposes, including to welcome Eid (60 percent), business capital (46 percent), and home renovation (18 percent)," said Bank BTPN's Digital Banking Partnership Head. Febru Rusli in an official statement, quoted from Antara, Monday, April 1.

This survey involved 233 respondents aged 17-40 years from various Jabodetabek and non-Jabodetabek areas, such as Bandung, Surabaya, Sidoarjo, Semarang, Medan, Palembang, Makassar, Manado, to Aceh.

Febru explained, there will be a shift in the allocation of the holiday allowance (THR) in 2024 compared to 2023. This year, there is a shift in the THR allocation from the digital sector community compared to the previous year.

Last year, the majority of digital savvy (41 percent) focused on saving THR, while 40 percent used THR for spending on Ramadan needs, and another 19 percent chose to invest their THR.

Now, the THR allocation for spending on Ramadan needs has increased by 12 percent to 52 percent, while the portion of saving and investing reaches 29 percent and 19 percent, respectively.

Quoting the results of the Jenius study, Febru explained that the change in how to manage THR is also in line with 58 percent of the digital savvy community who feel their spending has the potential to increase in Ramadan this year.

The allocation of expenditure is divided into several needs, such as buying new clothes (43 percent), going home (30 percent), zakat and alms (30 percent), buying sahur food and breaking the fast (29 percent), and iftar together (29 percent). percent).

"In addition to Ramadan's needs, the digital savvy community also uses THR to pay off installments or debts, business capital, holidays, house renovations, and buy devices or other electronic goods," he also said.