Jakarta, March 19, 2019 - The Cooperatives and Small and Medium Enterprises (SMEs) Ministry has appointed publicly listed state lender PT Bank Negara Indonesia (BNI) to be the provider of mortgages (KPR) through the lender’s BNI Griya to all of the ministry’s employees. The collaboration also involved state-owned house developer Perumnas.
The distribution of BNI Griya loans specifically to Cooperatives and SMEs Ministry employees began with the signing of a memorandum of understanding (MoU) between BNI retail banking director Tambok P. Setyawati, Cooperatives and SMEs Ministry secretary Meliadi Sembiring and Perumnas marketing director Anna Kunti Pratiwi on March 19.
Tambok said the millennial generation’s lifestyle focuses on finding experiences and enjoying life, making it difficult for millennials to buy their own homes. Also, another factor is that house prices are no longer low – average prices of houses in strategic locations in city centers and the capital city are increasing. For instance, data from the Office of the Coordinating Economic Affairs Minister shows the prices of houses in the Greater Jakarta region increase by 20 percent per year. Meanwhile, the increase of millennial salaries, particularly of employees, is only 10 percent per year.
"It is a challenge for the millennials to own their dream houses. Responding to this, BNI offers a new mortgage [KPR] product that better understands the lifestyles, needs and abilities of the millennials, namely BNI Griya products. BNI Griya itself offers a low interest rate, a loan ceiling of Rp 20 billion, a flexible period of up to 30 years and a ‘flexible’ installment scheme. The ‘flexible’ installment imposes less of a burden in the beginning and is adjusted to the income [of customers], so it doesn't change customers’ lifestyles drastically," Tambok said.
Tambok added that specifically for the Cooperatives and SMEs Ministry employees, BNI offered a low fixed interest rate starting at 6.75 percent per year, effectively fixed for the first two years, and a 7.75 percent per year rate afterwards, effectively fixed for the following one year. BNI also provides various waivers, namely advance payments of zero percent and a special provision of 0.5 percent. The Cooperatives and SMEs Ministry employees are also exempt from administration fees and appraisal fees. This zero percent down payment is available for Cooperatives and SMES Ministry employees whose monthly salary or performance allowances is channeled through BNI and those who have not already taken out mortgages.
As of February 2019, BNI has disbursed BNI Griya loans worth a total of Rp 1.6 trillion, representing a 4.2 percent growth from February 2018, when Rp 1.53 trillion was loaned out. The number of BNI Griya debtors as of February 2019 is 178,788. This number grew 5.6 percent from the total of 169,379 in February 2018.
Now, everyone can have a house by applying for BNI Griya loans without the hassle of going to a BNI branch office. In line with the #BNItuDigital tagline, applying for BNI Griya loans can now be done online through an application (e-Form) that can be accessed through bni.co.id or through the BNI Mobile Banking application. The BNI Griya e-Form is a gift from BNI to members of the general public who want to apply for a mortgage easily, especially the millennials who are highly dependent on gadgets.