What is Pinjol: Definition, Variations, How to Distinguish Legal and Illegal Pinjol

Admin BFI
23 June 2022
What is Pinjol: Definition, Variations, How to Distinguish Legal and Illegal Pinjol

Apa Itu Pinjol

Image Source: Unsplash/Olya Kobruseva

The term pinjol may already be familiar to our ears. Currently, pinjol is very widespread in Indonesian society. Be it legal or illegal pijol. It is undeniable, that this is in line with the pace of rapid development of the era and increasingly rapid technological innovation. The disbursement of the funds is also very easy and fast, there is no need to wait a long time, and the funds we need can be immediately disbursed in less than 24 hours. Pinjol users themselves come from various circles with diverse needs.

Sobat BFI, in this article we will discuss pinjol quite clearly. Read it carefully!

1. Pinjol Definition

Online loans or commonly called pinjol are loans made online, either through an application or a website without the need to include collateral or assets. In other words, transactions that take place can be carried out without having to meet in person.

Generally, loans are facilitated by online-based financial institutions or Peer-to-Peer (P2P) Lending which are Layanan Pinjam Meminjam Uang Berbasis Teknologi Informasi (LPMUBTI). Pinjol yang ada harus mengikuti ketetapan OJK dalam POJK No. 77/POJK/.01/2016.

2. Variations

Online Loan (Pinjol) is divided into 3:

2.1. Cash online loans

Loans that offer direct disbursement of funds to private banks. No guarantee or collateral can be used for various types of needs.

2.2. Pinjaman online cicilan tanpa kartu kredit

An online loan (pinjol) without a credit card is devoted to purchasing electronic goods such as refrigerators, washing machines, cellphones, laptops, and others.

2.3. Pinjaman online dana usaha

Online loans are specifically for business financing or as capital. Usually used for MSMEs or for entrepreneurs who have difficulty applying for a capital loan from a bank.

3. How to Distinguish Legal and Illegal Pinjol

We need to know that not all existing pinjol are legal. Legal pinjol not only offers quick, easy loans, and large limits. But it also offers security for your personal data. Below is the difference between pinjol legal and illegal.

3.1. Pinjol Legal

According to Otoritas Jasa Keuangan (OJK), The characteristics of pinjol legal as follows:

1. Registered in Otoritas Jasa Keuangan (OJK)

2. There is a clear management identity and office address

3. Existing loan applications will be selected first

4. Transparent interest and loan fees (fees)

5. Borrowers who cannot pay according to the existing time limit (maximum 90 days) will be blacklisted by the Fintech Data Center. So you can't apply for loans to other fintech sites, applications, or platforms.

6. Have a complaint service

7. On the customer's device, the application only accesses the camera, microphone, and location

8. The debt collector must have a billing certification from AFPI (Indonesian Joint Funding Fintech Association)

9. They do not offer through private communication channels. For example via SMS, or WhatsApp.

Untuk mengetahui perusahaan pembiayaan sudah terdaftar di OJK, ikuti langkah berikut ini:

  • Open the official site of OJK at
  • Go to the menu then select financial technology
  • On this page, it will be clear which fintech or pinjol who have been registered
  • Or you can also write down the name of the pinjol you are looking for directly in the search column on the OJK website
  • Another way is to ask via WhatsApp OJK at 081-157-157-157
  • Hotline OJK in 157

3.2. Pinjol Illegal

1. Not registered Otoritas Jasa Keuangan (OJK)

2. Does not have a clear management identity and office address

3. Applying for a loan is very easy (directly disbursed without any verification first)

4. Interest and borrowing costs (fees) are not transparent. May charge interest and high daily fines

5. Misuse of data privacy, intimidation, terror threats, inhumanity, and harassment for those who do not pay within the time limit.

6. No complaint service

7. Request access to all personal data on the borrower's device (including access to all contacts owned)

8. The debt collector does not have a billing certification from AFPI (Indonesian Joint Funding Fintech Association)

9. Using SMS, Whatsapp to offer loans with the lucrative lure


3.3. List of Legal Pinjol

The following is a list of OJK official loans as of May 2022:

  • Danamas

PT Pasar Dana Pinjaman

  • Investree

PT Investree Radhika Jaya

  • Amartha

PT Amartha Mikro Fintek

  • DOMPET Kilat

PT Indo Fin Tek

  • Boost

PT Creative Mobile Adventure


PT Toko Modal Mitra Usaha

  • Modalku

PT Mitrausaha Indonesia Grup

  • Asetku

PT Pintar Inovasi Digital


PT Pendanaan Teknologi Nusa

  • Kredit Pintar

PT Kredit Pintar Indonesia

You may also interested:  Pinjaman Uang Online Terbaik Untuk Karyawan

4. Alternative Pinjol with Secure and Fast Collateral

Need a Fast Fund Loan? For business capital needs, education costs, and other purposes? BFI Finance for your solution!

BFI Finance is licensed and supervised by the Financial Services Authority. BFI Finance offers various benefits for the products it offers. Among them are:

  • Fast credit process, 1-2 working days
  • High loan ceiling up to 80% of vehicle value
  • Extensive network with 340 branches throughout Indonesia
  • The best & most trusted financing company in Indonesia

You can find more information through the web page below:

Informasi Pengajuan Pinjaman Jaminan BPKB Mobil

Informasi Pengajuan Pinjaman Jaminan BPKB Motor

Informasi Pengajuan Pinjaman Jaminan Sertifikat Rumah

Don't miss the latest news about finance, business, loans, and more. Check out the BFI Blog for the latest articles every week!

Shariah Financing

Purchase sharia used and multi-purpose cars with the No Fines and No Penalties feature See Terms

Home Certificate

Low interest rates start from 0.6% per month and long loan tenors up until 7 years. See Terms

BPKB Motor

Get a loan with a fast process and a maximum tenor of up to 24 months. See Terms


Get a disbursement fund of up to 85% of the vehicle value and a tenor of up to 4 years. See Terms

Kategori : Pinjaman