Anastasya Lavenia Yudi, Jakarta – The Financial Services Authority (OJK) reported that outstanding financing within the online lending industry reached Rp94.85 trillion as of November 2025. According to the regulator, online loan debt surged by 25.45 percent on an annual basis. This growth is higher compared to the 23.86 percent year-on-year increase recorded in October 2025.
"The distribution of online loan funding is currently heavily dominated by consumptive credit," stated Agusman, OJK's Executive Head of Supervision for Financing Institutions, Venture Capital, and Microfinance, in a written statement released on Monday, January 12, 2026.
In November 2025, outstanding consumptive funding reached Rp63.63 trillion, accounting for a substantial 67.09 percent of the total outstanding debt within the online lending industry.
Meanwhile, the productive sector lagged behind, accounting for only 32.91 percent of the industry's total outstanding financing. Concern is also mounting over credit quality, as the aggregate credit risk level, measured by the 90-day non-performing loan rate (TWP90), climbed to 4.33 percent. This position represents a sharp increase from the 2.76 percent risk level reported in October.
Agusman further noted that the volume of online loan distribution is projected to swell during the upcoming Ramadan period, consistent with seasonal trends observed in previous years. "During Ramadan, the distribution of online loan funding tends to show an increase," he explained.
Historically, during the Ramadan period in 2024, funding distribution grew by 8.90 percent month to month. In the Ramadan period of 2025, funding distribution increased by 3.80 percent month to month.
The OJK has tightened the regulatory framework for the peer-to-peer or P2P lending industry. The maximum debt ratio for borrowers is now strictly capped at 30 percent of their total income. This regulation is formally stipulated in the Financial Services Authority Circular Number 19/SEOJK.06/2025 regarding the Implementation of Technology-Based Joint Funding Services.
Source: https://en.tempo.co/read/2079931/consumption-dominates-67-of-indonesias-online-loan-deb