Loan Service Fees Are Said To Be Very High Up To 100 Percent, This Is An Explanation From Our Boss

Photo: Doc. Antara

JAKARTA - Viral on social media that online loan or loan companies, Ada We set a very high service fee to its customers. In fact, the cost of services is said to reach almost 100 percent of the loan.

Responding to this viral news, Ada Kami's President Director, Bernardino Moningka Vega explained that the cost of the service charged consists of technology, administration and insurance costs.

"Every product (there is a service fee) and its composition changes. But what is clear must be there, even though it is a provision (obligatory) is insurance costs," he explained at a press conference in Jakarta, Friday, September 22.

Furthermore, Bernardino revealed that In Ada Kami, the highest cost is insurance costs. Even so, he claims that the rules regarding insurance costs are in accordance with the provisions of the Financial Services Authority (OJK).

"Every customer who borrows must be insured. It is explained in the system before the loan. The level of cost is adjusted, but what we need is insurance costs in some of our products are high insurance costs," he said.

Meanwhile, Secretary General of the Indonesian Joint Funding Fintech Association (AFPI) Sunu Widyatmoko said the loan fee limit based on the code of ethics is 0.4 percent per day.

Furthermore, Sunu explained that the costs included service administration costs, technology costs, risk management costs, and insurance costs.

"We have set limits on all these costs, combined into one that must be paid by borrowers divided into loan days, not more than 0.4 percent," he explained.

Sunu explained that there is indeed a platform that provides high interest costs and low service costs. However, there are also low interest costs but high service costs.

"This is because it makes it easier for us to monitor. We patrol the platform. We check whether there is a violation or not," he explained.

For your information, from screenshots circulating on social media, there are examples of Ada Kami's loan details that provide service interest of almost 100 percent of the loan.

In detail, the principal loan submitted is IDR 19,600,000. Then, the cost of the service charged is IDR 16,169,994. Meanwhile, the loan interest is IDR 2,940,003.