Indonesian fintech company JULO has launched a new feature to ensure quick loan disbursement, introducing the “Instant Disbursement Guarantee.”

With this new feature, users receive their loans within 10 minutes of approval.

If delays occur, customers are compensated with a cashback of IDR 25,000.

JULO reports a nearly 99% on-time disbursement rate, with cashback claims reportedly resolved promptly in rare cases of delays.

The company has also introduced other services, such as Protect Plus, which offers insurance coverage for smartphone damage.

Since its launch in October 2024, Protect Plus has covered over 51,000 customers and processed more than 65,000 insured transactions.

Operating for eight years, JULO has served over two million Indonesians, providing a virtual credit card with a limit of up to US$3,500.

The card allows users to manage various expenses, including e-wallet top-ups and healthcare payments, aiming to enhance financial inclusion in a market with low credit card penetration.

Manoj Awasthi, Chief Technology Officer of JULO, said,

“This guarantee is the result of robust infrastructure and innovation.

By making sure that almost all transactions are completed on time, we’re setting a new standard for fintech reliability while building trust in digital financial services.”

Nimish Dwivedi, Chief Business Officer of JULO Group, said,

“The first existing gadget protection cover and the first disbursement guarantee strengthen our ongoing endeavor to provide rapid and ongoing access to digital credit for our valued customers.”

Featured image credit: Edited from Freepik

The article first appeared on Fintech News Singapore