What interest rate do personal loans charge in Indonesia?

Bank KTA (unsecured personal loans) typically charge around 10-30% per year, with the lowest rates for salaried borrowers at their payroll bank. OJK-licensed pinjol fintech loans are short-term and price by the day; the OJK caps consumer-loan interest at 0.3% per day, with the roadmap lowering it further over time.

What is the difference between a bank KTA and a pinjol?

A bank KTA is a longer-term amortising loan repaid in equal monthly instalments at an annual rate. A pinjol is a short-term fintech loan, often repaid in a single bullet payment after a few weeks, priced as a flat daily interest rate. KTAs are cheaper for larger, longer borrowing; pinjol are for small, very short-term needs.

What is the OJK daily interest cap?

To curb predatory lending, the OJK caps the daily interest on licensed short-term consumer pinjol. The cap was set at 0.3% per day, scheduled to fall further (toward 0.1% per day) under the OJK roadmap. Any lender charging above the cap may be operating illegally as a pinjol ilegal.

Why is a flat-rate KTA more expensive than it looks?

Some banks quote KTA interest as a flat rate applied to the original principal for the whole term, rather than on the reducing balance. A flat rate of, say, 1% per month sounds modest but equates to a much higher effective (reducing-balance) APR. Always ask for the effective APR, which is what this calculator models for KTA.

How do I avoid illegal lenders (pinjol ilegal)?

Only borrow from lenders on the OJK's registered list. Illegal pinjol charge rates far above the cap, demand excessive personal-data access, and use abusive collection tactics. If a daily rate exceeds 0.3% or the lender is not OJK-registered, do not borrow from them. The calculator flags rates above the cap.

Indonesia Personal Loan Calculator

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The Indonesia personal loan calculator models repayments for both kinds of consumer borrowing: a bank KTA priced at an annual rate and repaid in monthly instalments, and an OJK-licensed pinjol priced as a flat daily rate. It shows your payment, total interest, and an approximate APR so you can compare honestly.

How it works

Bank KTA uses the standard amortising annuity formula on the reducing balance:

payment = P x r x (1 + r)^n / ((1 + r)^n - 1)

where r is the monthly rate (annual rate divided by 12) and n is the number of months.

Pinjol uses a flat daily rate on the principal:

interest = principal x daily rate x days
APR (approx) = daily rate x 365

The tool flags any pinjol daily rate above the 0.3% OJK cap.

Worked example

A Rp 50,000,000 KTA at 18% per year over 24 months gives a monthly instalment of about Rp 2,496,000, with roughly Rp 9,900,000 total interest. A Rp 50,000,000 pinjol at 0.3% per day for 30 days costs Rp 4,500,000 in interest for one month — an approximate APR of about 110%, showing why pinjol suit only small, very short-term needs.

Tips and notes

Always ask a bank for the effective (reducing-balance) APR, not a flat monthly rate, which understates the true cost.
Only borrow from OJK-registered lenders; rates above 0.3% per day suggest an illegal pinjol.
Pinjol add late and admin fees on top of interest — the headline daily rate is not the whole cost.
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