Indonesian Fintech Industry Requests OJK to Maintain Current P2P Lending Interest Rate

Industry Concerns About Potential Rate Cuts

The CEO of PT Mapan Global Reksa (Findaya), Marcella Chandra Wijayanti, has urged the Financial Services Authority (OJK) to maintain the current maximum interest rate of 0.3% per day for consumer peer-to-peer (P2P) lending in 2026 ¹

. This request comes as OJK had previously announced plans to gradually reduce the maximum interest rates for P2P lending through the issuance of OJK Circular Letter (SEOJK) No. 19/2023 ¹

Source 1

https://finance.detik.com/moneter/d-8208221/perusahaan-pindar-minta-ojk-tak-turunkan-batas-atas-bunga-tahun-depan

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Rationale Behind Maintaining Current Rates

Marcella explained that while the 0.3% daily rate is the maximum allowed, not all consumers are charged this rate. Findaya implements a risk-based pricing system where borrowers with better credit profiles receive lower interest rates. She emphasized that further rate reductions could limit the industry's ability to serve new borrowers with higher risk profiles, such as recent graduates with no credit history ¹

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Regulatory Background and Industry Impact

OJK had previously implemented a gradual reduction of P2P lending interest rates through SEOJK 19/2023, effective from January 2024. The initial plan was to reduce consumer lending rates from 0.4% to 0.3% in 2024, then to 0.2% in 2025, and finally to 0.1% in 2026. However, OJK made adjustments in 2025, setting the rate at 0.3% for loans with tenors up to six months and 0.2% for longer tenors ¹

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Industry Perspective on Rate Adjustments

Marcella argued that the current rate structure provides a balance between industry sustainability and consumer protection. She emphasized that maintaining the current rates would allow fintech companies to continue serving higher-risk borrowers while offering better rates to more creditworthy customers through their risk-based pricing models ²

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