The Jakarta Post
State-owned lender Bank Tabungan Negara (BTN) will introduce housing credit with interest rates of between 6 and 7.5 percent for those working in the informal sector, such as small traders, fishermen and farmers, BTN president director Maryono has said.
The program, called KPR Mikro, will start in this month in the Central Java capital of Semarang, he added.
“The maximum down payment is 10 percent of the house price. It can be below that,” he said as reported by tribunnews.com on Friday, adding that the loans would be for homes valued at Rp 50 million (US$3,756.57) to Rp 75 million.
The developer of the housing is state-owned housing company PT Perumnas.
“We expect to disburse between Rp 200 billion and Rp 300 billion. The funds will all be from BTN,” he said.
Maryono also revealed that its credit disbursement was expected to grow 21 percent this year, while the transfer of the third-party funds (DPK) is expected to reach 22 percent from the previous year.
The BTN financial report shows that its credit disbursement grew 17.61 percent to Rp 150.22 trillion last year from Rp 127.73 trillion the previous year.
“To achieve the target, BTN makes innovations by introducing various products of both financing and saving services. We also support the government program on property and banking,” Maryono added. (bbn)
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