Late Repayment

Installment Repayment Type (repaid monthly)

For installment type or repayment, the lender will get an extra 3% as a late fee.

Lump-sum Repayment Type (repaid at the end of the tenure)

For the lump-sum type of repayment, lenders will get 1.5x from the daily interest that will be counted starting from day 1 of late payment. Due to daily calculation and the possibility of bank processing delays, lender will get the late fee maximum of 3 (three) working days after the successful borrower’s payment date.

For example, the due date is 1 January and the borrower’s payment date is 2 January but in this case, there is a bank clearing issue that caused the money to be received on 4 January. Therefore the calculation for the late fee is 1 day (From 1 January to 2 January)

Default / NPL (Non-Performing Loan)

If the borrower is unable to fulfill their obligations either partially and/or wholly in accordance with the Credit Agreement for a maximum of 180 days, the loan will be marked as NPL.

If the repayment is late or NPL, our internal collection team will try to collect the debt with good intentions and practices as OJK suggested to us.