Comparison of Shopee PayLater vs Akulaku, Which is Superior
Rancakmedia.com – Do you know the comparison about Shopee paylater vs Akulaku? If not, you can see the article that we provide below until it's finished.
Some of you must be familiar with Shopee Paylater or Akulaku services, but some users still don't know the comparison between the two.
Shopee Paylater and Akulaku are two P2P lending services that are very well known to all people, besides being easy to use, these services also offer low interest rates.
The comparison between Shopee Paylater vs Akulaku shows that the service Akulaku superior because it already offers Paylater and cash.
Whereas the Shopee Paylater service can only be used for Paylater and can only be used for selected accounts to shop on the Shopee application only.
So before you know which one is superior between Shopee Paylater vs Akulaku, you need to know the explanation for each of these services.
Understanding Shopee Paylater
Shopee Paylater is an online loan application that includes payment for groceries with the buy now pay later payment method for each user.
By using Shopee Paylater, users can apply for loans for items they want to buy on e-commerce with installments of 3.6 to 12 months.
The way to register for Shopee Paylater is also very easy, you only need to fill in your data, photo, KTP to selfie KTP.
Advantages and Disadvantages of Shopee Paylater
Below we have summarized the advantages and disadvantages of Shopee Paylater, as follows:
Advantages of Shopee Paylater
Here are the advantages of Shopee Paylater:
1. Easy, Online and No Guarantee Submissions
By using Shopee Paylater, users don't need to provide guarantees, Shopee Paylater users can also request installment applications easily, in just 2 clicks while shopping.
You also need to make sure that the e-commerce that you use has collaborated with Shopee Paylater so that you can enjoy many conveniences.
2. Installments without DP
You can also rely on Shopee Paylater for users who need goods for urgent needs when they don't have enough funds to buy them.
Shopee Paylater users also don't need to provide a down payment or DP to use Paylater services from Shopee Paylater. In addition, the installment limit is also relatively high, reaching 30 million rupiah.
3. You don't have to pass BI Checking SLIK OJK
The good news is that Shopee Paylater does not necessarily use the results from BI checking or SLIK OJK to make credit decisions.
Shopee Paylater also has two possibilities in terms of BI Checking, as follows:
- Examine the results of BI Checking or OJK SLIK, but do not base credit decisions solely on results
- Customers with poor BI Checking results can still be approved by Shopee Paylater
- Ignoring BI Checking or SLIK OJK because they have used other credit analysis indicators
4. Doesn't Require a Lot of Documents and No Salary Slips Required
To apply for a loan at Shopee Paylater, users will not be asked to enter payslip documents, just use their KTP. So only with KTP capital and selfie photos, users can apply for loans at Shopee Paylater.
5. Safe and Already Have Official OJK Permit
Shopee Paylater is fairly safe to use, not fraud, because it already has official permission from the Financial Services Authority or OJK.
Disadvantages of Shopee Paylater
Following are the disadvantages of Shopee Paylater:
1. Can Only be Used in the Shopee Application
Shopee Paylater can only be used for shopping installments in the Shopee application, you cannot use Shopee Paylater at other shopping places. As a result, many don't use Shopee Paylater because they have limited access.
2. No Cash Funds
Shopee Paylater can only be used to buy goods in installments, you cannot use Shopee Paylater as a cash loan.
3. Only Available for Certain Accounts
Shopee Paylater can only be used for certain accounts in the Shopee application. Users cannot apply arbitrarily to get Shopee Paylater facilities.
Shopee itself will determine which account you want to be given the right to get Shopee Paylater. Furthermore, the selected customer will apply for Shopee Paylater by fulfilling the specified terms and conditions.
What is Akula?
Actually what is Akula?? Akulaku is online loan applications such as payment for groceries by buying now and paying later for its users. Which means Akulaku is an online loan application that offers pay later services.
By using Akulaku's services, users can apply for loans for goods purchased in e-commerce with installments of 3.6 to 12 months.
Registering for Akulaku is also very easy, that is, just filling in the data, ID photo and KTP selfie.
Advantages and Disadvantages of Akulaku
Below we have summarized the advantages and disadvantages of Akulaku, as follows:
Advantages of Akulaku
Here are the advantages of Akulaku:
1. Payments are more flexible than credit cards
The Akulaku payment period will start at least 30 days after the transaction is made. This payment period is considered to be enough to relieve users.
Compared to transactions using a credit card which usually bills on a certain date regardless of the date of the transaction.
2. Installments without DP
Akulaku can really be relied on for users who need items for sudden needs when they don't have enough funds to buy them.
Akulaku users do not need to provide a down payment or DP to use Akulaku's paylater services. In addition, the installment limit is also relatively high, reaching 30 million rupiah.
3. Easy Submission
There is no need to provide collateral, Akulaku users can easily apply for installments in just 2 clicks while shopping.
Make sure that e-commerce has collaborated with Akulaku so that you can enjoy other conveniences.
4. Safe and Already Have OJK Permit
Akulaku is a safe and non-fraud service because it has obtained an official permit from the financial services authority or OJK.
Disadvantages of Akulaku
Following are the disadvantages of Shopee Paylater:
1. Higher Akulaku interest
Loan interest at Akulaku is higher because of the easy process and conditions. In P2P fintech, interest can reach 0.4% per day or 12% per month.
2. Not Available in All of Indonesia
With all the conveniences provided by Akulaku in registering and applying for installments, many people are interested in using Akulaku's services.
Unfortunately not all people in Indonesia can access Akulaku because currently Akulaku is only available in Bandung, Semarang, Surabaya, Cirebon, Palembang, Medang, Bali, Yogyakarta, Solo, Makassar, Malang, Sukabumi, Kediri, Balikpapan, Batam, Purwakarta, Padang , Pekanbaru, Manado, Samarinda, and Greater Jakarta.
3. There are late fees for users
In the Akulaku service there is a late fee, which is a penalty for users who are late in making payments.
Which means, if the user is late making a payment, there will be an additional fee in the form of a late fee. In addition, because the installments are still running, the user will also receive interest on the loan.
Comparison of Shopee PayLater vs Akulaku
|Hanya untuk pengguna Shopee tertentu||Everyone can use it|
|Only includes Paylater||Includes Paylater and Cash Funds|
|Lower interest||Higher interest|
|Only on the Shopee app||All online e-commerce services|
|OJK official||OJK official|
|Throughout Indonesia||certain region|
|Only need ID||Only need ID|
1. Comparison of Limits
For Paylater services, Akulaku offers a credit limit of up to Rp. 15,000,000 (Fifteen Million Rupiah). The main requirements for applying for Akulaku limits are Indonesian citizens and are at least 23 years old, are already working and have an income of at least 3 million per month.
However, this limit is not certain to be accepted by all Akulaku users, users will receive a limit in stages according to the credit score that the user has.
Meanwhile, for new users, almost 80% will receive a credit limit of between 4 and 6 million.
Meanwhile, the limit provisions for SpayLater are almost the same as Akulaku, which is a minimum of Rp. 750,000 and a maximum of Rp. 15,000,000.
Limits are also given in stages, not immediately obtaining a limit of 15 million (unless selected with special criteria).
2. Tenor Comparison
The next comparison is in terms of the tenor or type of payment provided by Akulaku vs Shopee Paylater.
So in using the Akulaku Paylater and Shopee Paylater services, you can choose a tenor starting from 30 days, 3 months, 6 months, 9 months, up to 12 months.
At Akulaku, you can buy goods at Akulaku in installments with a nominal transaction of more than Rp. 300,000. Meanwhile, Spay Later, you can start repaying goods with prices starting from Rp. 50,000.
3. Interest Comparison
In terms of interest, Akulaku vs Shopee Paylater can also be used as a reference in determining who is better.
So for Akulaku users you will be charged an interest of 3% for all tenors, while Shopee Paylater will be charged an interest of 2,95% but unfortunately Spaylater also charges a service fee of 1% of the nominal transaction.
4. Akulaku Merchants vs Shopee Paylater
Currently, Akulaku has collaborated with various offline and online merchants, as follows:
- Mi Store
- Check premium
- My tools
Whereas Shopee Paylater can only be used to shop on the Shopee application, provided that the store that provides the goods already supports payments via Shopee Paylater.
The comparison between Shopee Paylater vs Akulaku shows that Akulaku's service is superior because it already offers Paylater and cash.
Thus the information about the comparison of Shopee Paylater vs Akulaku, I hope the articles we discussed above can be useful and helpful for all of you.