Understanding Indodana Fintech Loan Cancellation Process

Conditions for Loan Cancellation

Indodana Fintech allows users to cancel approved loans under certain conditions. The primary requirement is that the loan must not be disbursed to the user's account. If the funds have already been disbursed, cancellation is not possible and the user must proceed with repayment according to the agreed terms.

Cancellation Methods Based on Approved Amount

1. Immediate Cancellation After Approval: If the loan is newly approved, users can cancel it by not accepting the disbursement.
2. Cancellation Through App: For approvals less than 50% of the requested amount, users can cancel directly through the Indodana Fintech app by pressing the 'Cancel' button.
3. Automatic Cancellation: For approvals exceeding 50% of the requested amount, users must wait 14 days without disbursing the funds. The system will automatically cancel the loan after this period.

Important Considerations

• The loan must remain undrawn to qualify for cancellation
• Different procedures apply based on the approved loan percentage
• Customer support is available through official channels: (021) 3026 6888 or cs@indodanafintech.co.id

Implications for Users

Understanding these cancellation procedures is crucial for users to manage their financial commitments effectively. The process is designed to be straightforward while maintaining regulatory compliance and user protection.