JULO upgrades digital credit limit to 15 million Rupiah for Indonesians

By Leandra Monteiro

Indonesian FinTech peer-to-peer lending has gained much traction among consumers as an alternative to conventional banking and payment services. Digital credit is one of the services which is often sought after by the public. As technology has advanced, digital credit enables self-service loan-application through mobile phones almost instantly without visiting and queuing for hours at financial institutions.

JULO, an Indonesia peer to peer lender has upgraded its cash loan product to digital credit with a limit up to 15-million-rupiah, equivalent to USD 1,000. JULO charges 0.1% interest rate/day, lower than other consumer lending players who charge up to 0.8% per day.

Beside regular cash loans, JULO is now equipped with various features that facilitates the user to transact on e-commerce platforms, transfer funds, pay for utilities bills, purchase phone credit, and top up digital wallets. Through this digital credit card, users can choose to pay their transaction in instalment mode up for upto 9 months. For the underserved population, its digital credit would help user cashflow especially when it comes to big ticket purchases.

“JULO was established in Indonesia and created for Indonesia. We continue to innovate and improve service quality to serve more people across the country. We hope with JULO’s digital credit, more people will experience the convenience of online credit facilities for cash loans and digital transactions,” said Adrianus Hitijahubessy, CEO and co-founder of JULO.

JULO’s Head of Marketing, Mikhal Anindita, said, “JULO is committed to providing the best service for customers. In this digital era, JULO is aware of users’ various financial needs. With JULO’s digital credit innovation, we want to provide cash and non-cash credit facilities that are affordable and easily accessible via smartphones. We believe digital credit facilities can be beneficial for Indonesia population when used wisely, not only for consumptive use but also for improving quality of life such as education, house renovations, and healthcare.”