The Jakarta Post
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 tempo.co.
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)