Recently, the internet was buzzing with surprising news: 60% of Coachella 2025 attendees in the U.S. bought their tickets using loans or installment plans. With ticket prices reaching up to IDR 10 million, many were willing to go into debt for a three-day music experience. This reflects a growing global trend: younger generations increasingly rely on pinjaman online services for urgent needs and lifestyle spending.
Here in Indonesia, we’re seeing the same trend through the rising popularity of online loans (pinjol). But while these services offer undeniable convenience, many people fall into the trap of borrowing without fully understanding the risks. So, are online loans a practical solution or a fast track to financial trouble?
What Are Online Loans and Why Are They So Popular?
Online loans are digital financial services that allow users to borrow money without collateral directly via an app or website. There are no long queues, no piles of documents—just a few taps, and the funds can be disbursed in hours.
Why are they so popular?
- Fast and easy process
Perfect for emergencies like medical bills or urgent expenses.
- No collateral required
Unlike traditional bank loans, no assets are needed as security.
- Simple requirements
Anyone can apply with just an ID and some personal data.
But it’s this very convenience that tempts many people into borrowing without thinking twice.
Benefits and Risks of Online Loans
Like any service, online loans come with two sides. On the one hand, they offer a quick solution. On the other hand, they can be risky if used carelessly.
Benefits:
- Instant access to cash in emergencies
- Hassle-free process, no collateral needed
- Entirely online—no need to visit a physical office
Risks:
- High interest rates
Many online lenders charge much higher interest rates than banks.
- Hidden fees
You may encounter admin fees, late penalties, or other charges you weren’t told about upfront.
- Data misuse
Using unlicensed platforms can lead to your data being misused or leaked.
- Stress and harassment
Some borrowers report aggressive collection tactics that cause mental distress.
Pinjaman Online: Helpful or Harmful?
Online loans can be helpful tools if used wisely and only when truly needed. For example, they can be used to cover medical bills, repair a motorbike for work, or pay for school fees. But when used for lifestyle spending—like concert tickets, branded goods, or last-minute vacations—they often become the root of more problems.
Without planning, one loan can lead to another. Many borrowers take out new loans to pay off old ones, starting a vicious cycle that’s hard to escape.
Smart Tips for Using Online Loans
If you absolutely must take out an online loan, make sure to follow these tips:
- Check legality
Only borrow from platforms registered with and regulated by OJK (Financial Services Authority).
- Read the fine print
Don’t just click “Agree.” Review interest rates, penalties, loan duration, and all fees carefully.
- Borrow only what you need
Don’t be tempted to borrow more just because you can.
- Repay within your means
Make sure the monthly payments fit your income.
- Avoid impulsive borrowing
Don’t join the trend because “everyone else is doing it.”
Style is Fine—But Don’t Let Debt Control You
Attending international concerts, getting the latest gadgets, or traveling without worrying about cash upfront is fun. But those moments shouldn’t come at the cost of long-term financial strain.
Pinjaman online can be a lifeline when used responsibly. But that convenience can become a heavy burden if you’re not careful. Thankfully, you don’t have to take that risk.
If you’re a salaried employee and need fast access to funds without crazy interest or data risks, try Earned Wage Access (EWA) from VENTENY Employee Super App.
With EWA, you can access a portion of your salary before payday, without debt, without interest, and with total security—no need to wait until the end of the month to manage your finances. Use what you’ve already earned—smart, safe, and stress-free.
