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Jakarta Post

BTN offers cheap loans for housing in Pekanbaru

  • News Desk

    The Jakarta Post

Jakarta   /   Mon, July 24, 2017   /   12:31 pm
BTN offers cheap loans for housing in Pekanbaru President Joko “Jokowi” Widodo (right), State-Owned Enterprises Minister Rini Soemarno (left) and state-lender BTN president director Maryono inspect low-cost houses in Balikpapan, East Kalimantan, on July 13. (Antara/Suryo)

State-owned lender Bank Tabungan Negara (BTN) is offering loans for low-cost homes in Pekanbaru in a bid to support the government’s 1 million homes program.

The loans come with a fixed interest rate of 5 percent with a 20-year repayment term and 1 percent down payment.

BTN president director Maryono said low-income people could own houses through the company’s subsidized housing loan scheme.

“After Balikpapan, we again offer [loans for] low-cost housing in Pekanbaru,” he said on Sunday as quoted by

The loans are only for housing in two residential complexes in Pekanbaru -- Griya Setia Bangsa (1,163 houses) and Griya Setia Nusa (963 houses).

This year, BTN sets a target to disburse loans for 504,122 subsidized homes. The bank also aims to disburse loans for non-subsidized housing construction and non-subsidized housing for 161,878 homes. (win/bbn)