Line Bank launches quick credit, unsecured loan features in Indonesia

Line Bank, a joint venture between the Indonesian unit of Hana Bank and Japan’s Line, has announced the launch of its new quick credit and unsecured credit loan features.

Photo Credit: Line Bank

The new services are aimed at helping young people safely meet their lifestyle needs.

The features will allow users to access loans of up to 100 million rupiah (US$6,670), free admin and provision fees, and flexible disbursement and repayment options. Users with a good credit record will also be able to increase their loan limit.

For the first year, the features will be available to customers in Bandung, Surabaya, and the Greater Jakarta area.

Line Bank began operations in Indonesia in 2021 with payment options through QRIS (a national QR code standard), partnering with over 40 entities in services such as ticket purchasing, insurance, and credit card payments.

In 2018, Line Financial acquired a 20% share in the Indonesian arm of South Korean Hana Bank, laying the groundwork for its rapidly expanding digital bank services in the Southeast Asian country.

Meanwhile, Line launched its banking service in Taiwan and Thailand with Kasikornbank in 2020. It plans to expand banking features to Japan soon in a joint venture with Mizuho Bank.

See also: Behind Bukalapak’s entry into Indonesia’s digital banking race

Currency converted from Indonesian rupiah to US dollars: US$1 = Rp 14,993