KOPISUSU-Pinjaman&Tabungan

What the cooperative offers its members

If you are considering a small personal loan on your phone, the first thing to know about KOPISUSU-Pinjaman&Tabungan is that it belongs to a savings and loans cooperative, known in Indonesia as a KSP. The developer, Koperasi Simpan Pinjam Pilihan Sahabat Semua, presents the app as a way for members to save and borrow online.

Under the ministry rules the listing cites, a KSP may lend only to its own members. It may collect funds from members, allocate loans to them, pass a share of cooperative business income back to them, and manage the savings they deposit. The app is the front end for the two sides of that arrangement: a loan account and a savings account, both tied to membership.

On the listing's terms, the people who can join and apply are Indonesian citizens aged 20 and over, with an Indonesian ID card (KTP) and a mobile number.

Borrowing: amounts, terms and the rate ceiling

Loans run from Rp600,000 to Rp30,000,000, repaid in instalments over a period of 3 to 12 months. The maximum rate is 24% a year. The listing says the actual amount, term and rate depend on each borrower's credit rating, and that the approved figures are shown in the app.

The listing gives one worked example. A loan of Rp3,000,000 over 6 months carries interest of 2% a month (24% divided by 12), which is Rp60,000 a month. The monthly payment is Rp560,000: the Rp3,000,000 spread over six months, plus that Rp60,000. Total interest comes to Rp360,000, and the total repaid is Rp3,360,000. The interest is calculated on the full Rp3,000,000 for every month of the term, so the figures are easy to check against the listing's own arithmetic.

Applying for a loan and receiving the money

First, you register as a member. Then you fill in the loan application form, which the developer describes as quick, and choose the amount you want in Rupiah. The application waits for approval, and the developer says the result is synced into the app.

Finally, once approved, the loan is paid into your account in the app. Because the amount and terms are set by the credit rating, the offer you see at the approval stage is the one that applies.

Repaying by instalment, in full, or at a bank or ALFA

You can repay in instalments or pay the whole loan off at once. The developer says that paying in full lets you apply again for a larger amount at a lower cost. It also describes instalments as putting less pressure on the cooperative's working capital, which is a point about the lender rather than the borrower.

Payments can be made by ATM transfer through BRI, Permata, CIMB, Mandiri, BCA, BNI and other banks, or at ALFA convenience stores.

Savings: mandatory, voluntary and larger deposits

Membership involves two regular amounts: mandatory savings (tabungan wajib) of Rp10,000 and voluntary savings (tabungan sukarela) of Rp5,000. To become a full member, you send your membership details and complete both. Voluntary savings are submitted once a month.

Larger deposits, beyond the mandatory and voluntary amounts, can be made offline. The listing says members may receive part of the cooperative's operating income in a proportion agreed with the cooperative.

Where the lending money comes from and how to reach the cooperative

The listing names two sources of lending funds. The first is the savings of cooperative members, which include principal savings, mandatory savings, voluntary savings and grants. The second is borrowed money from other businesses or cooperatives.

Customer service can be reached by telephone on +6281945913163 or by email at cs@kopisusu.co.id. The listing gives the service hours as Monday to Sunday, 09:00 to 20:00 WIB.