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This is How to Save Quickly, Effectively and Successfully!

Article
15 Dec 2023

Do you now have savings for your needs? Saving is an important activity to do as early as possible for a better future. For some people, saving may be an activity that is quite difficult to do, often when they have the intention to set aside money, they are instead tempted by promos circulating on social media, or tempted by current food discounts.

Actually, it's okay to spend money on things you like, but it would be better if you balance it with the habit of saving so that expenses don't increase. Moreover, if you have goals that you want to achieve, it is best to carry out savings activities consistently.

As the name suggests, KPR applies an installment system which means you will buy a house in monthly installments over a certain predetermined period and interest rate. For further information, we will discuss the types, application requirements, and benefits of KPR. Please take a look, OK!

Key Takeaways:

  1. KPR is a facility that you can use if you want to own a residential home but the cash you have is still limited. KPR is a facility offered by banks to their customers to buy or repair a house.

  2. Approval of the use of the Company's net profit for the 2022 Financial Year. There are various types of KPR that you can choose according to your needs, including Subsidized KPR and Non-Subsidized KPR which can be processed according to sharia or conventional principles.

  3. The general requirements when you want to apply for a home ownership loan are that you must be an Indonesian citizen, have a fixed or irregular income with a minimum work period of 1 year, be at least 21 years old to 65 years old, and have a maximum financing of up to 100% of the value of the object to be financed.

  4. The advantages of a KPR include that you only need a little capital if you want to buy a house or you only need to provide funds for a down payment (DP), then the legality of the house you will live in is guaranteed, and the KPR has a long term.

Types of KPR, which one is your choice?

There are several types of mortgages that apply in Indonesia which you can choose according to your wishes and needs. The following explanation will be presented below.

  1. Subsidized KPR


    Home ownership credit facility which is a program from the Government aimed at Low Income Communities (MBR) with low interest rates and easy installments for the purchase of prosperous landed houses and prosperous flats built by developers.


    The form of subsidy provided by the Government is a down payment of IDR 4,000,000. In addition to the down payment assistance subsidy, Subsidized KPR has a low interest rate of 5% that remains until the credit term ends (up to 20 years) and down payments start at 1%.

  2. Non-Subsidized Mortgage


    Unlike the previous type, this KPR can be reached by all Indonesian people. Where all mortgage policies will be determined by the banking sector. Starting from the size of the credit, term, to the interest rate will also be adjusted to each bank's regulations.


    This type of KPR is a conventional type where all costs are the result of commercial bank policy without any government intervention. In addition, if you are late in paying the installments, the fines imposed are quite high compared to subsidized KPR.

  3. Sharia KPR


    As the name suggests, this type applies sharia principles, namely free of usury as per the principles of Islamic teachings.


    Sharia KPR is financing intended for customers to purchase houses, shops, office houses, apartments and/or land and other types of property to own, with sharia-compliant contracts. Currently Sharia KPR has various choices of financing contract schemes which are widely used, including:


    This variety of contract scheme options means that customers can get a lot of blessings (a lot of goodness) because apart from making it easier to use Sharia KPR services, the product features are also attractive and the application process is simple and approval is fast with easy installments.

  4. KPR Take Over


    As the name suggests, this type of mortgage is the transfer of mortgage or similar facilities from the original bank to the desired new bank. This transfer may be carried out with the condition that the maximum credit limit is the latest outstanding at the original bank or the new credit limit according to the bank's calculations. So, if you plan to take this type, make sure you know the system, requirements and application first.


Requirements for applying for a mortgage, what are they?

After knowing the types of KPR, the next step if you want to take out a KPR product is to know the application requirements. In general, the requirements for applying for a KPR are as follows:

  1. Indonesian citizens (WNI).

  2. Have a fixed or irregular income with a minimum work period of 1 year.

  3. Minimum age 21 years to 65 years.

  4. Maximum financing is up to 100% of the value of the object to be financed.

As for Subsidized KPR, there are several additional conditions, including:

  1. Maximum income IDR 6,000,000 for unmarried and IDR 8,000,000 for married.

  2. Especially for Papua and West Papua, the maximum income is IDR 7,500,000 for unmarried people and IDR 10,000,000 for married people.

  3. The applicant and his partner do not yet own a house.

  4. Have never received a housing subsidy from the government.

If you meet these qualifications, there are several documents that you must complete before applying for a mortgage at the bank. Divided into two, namely KPR for fixed income and KPR for self-employed or non-fixed income.

Fixed Income Mortgage Requirements (Fixed Income):

  1. Photocopy of applicant's KTP.

  2. Photocopy of husband's or wife's KTP.

  3. Photocopy of Family Card (KK).

  4. Photocopy of marriage or divorce certificate.

  5. Photocopy of personal NPWP (Taxpayer Identification Number).

  6. Salary slip or income statement, at least 1 year ago.

  7. Photocopy of bank statement.

  8. Company recommendation letter.

  9. Notarial deed of separation of assets.

Requirements for Non-Fixed Income KPR:

  1. Photocopy of applicant's KTP.

  2. Photocopy of husband's or wife's KTP.

  3. Photocopy of Family Card (KK).

  4. Photocopy of marriage or divorce certificate.

  5. Photocopy of personal NPWP (Taxpayer Identification Number).

  6. Photocopy of SIUP (Trade Business License).

  7. Photocopy of the Company's deed of establishment.

  8. Photocopy of bank statement or savings account for the last 6 months.

  9. Original statement letter regarding property ownership credit.

These are some of the documents you must prepare if you want to apply for a mortgage. Next, here are the brief steps in applying for a KPR. First of all, of course you have to choose and determine what type of house you want. Please remember, not all houses can be bought using a mortgage, therefore you have to ask the bank directly for details. Apart from that, it is important to see what the conditions are like around the housing complex where you will live, this will make your life easier after living there.

The next step is to ask in detail and thoroughly about the house you want to buy. Starting from the price, installment system, down payment, to additional costs for the environment (water, cleaning, security, etc.). So, if you are sure about the house you are going to buy later, you can give the booking money or down payment as a sign of completion in purchasing the house. This booking money is proof of booking a house so that the house you choose cannot be bought by someone else.

The final step is submitting a mortgage to the bank. In this application process, you will usually be assisted by developers who have collaborated with certain banks. If you want to choose a mortgage that does not work with a developer, then you have to arrange the home ownership credit independently. If you have completed the documents required for a KPR application, the bank will approve the KPR application within one month. During this time, the bank will conduct surveys on several different parties to ascertain all your financial activities which will determine whether your mortgage application will be approved or not.


Benefits of Using a Mortgage

Of course, there will be benefits that you will get if you buy a house with a mortgage, some of which are as follows:

  1. You only need a small amount of capital to buy a house

    2. This first point feels very tempting, doesn't it? By using mortgage installments, you only need a small capital when you want to buy a house. Because the bank can provide funding of 70-80% of the house price, so you only need to prepare a down payment (DP) and settlement money to be paid to the developer. This method is quite effective compared to saving yourself while house prices continue to rise.

  2. Guaranteed House Legality

    3. In the process of buying a house, apart from the funds that must be prepared, there are also documents and taxes that must be taken care of so that this transaction is considered legal. This process is often considered confusing for someone who is not used to it or is buying property for the first time.

    However, by taking out a KPR you will be assisted by the bank in processing the certificate with a notary and PPAT bank partners. The bank can also check the seller's documents to avoid criminal fraud. This advantage will give you peace of mind because the legality of the house you will live in is guaranteed.

  3. Has a Long Term

    4. By using a mortgage, you can buy a house from a young age. Because the minimum age for applying for a mortgage is 21 years, the younger you are when you take out a mortgage, the longer the tenor you can get. Therefore, to be able to get a long tenor, it is recommended to take out a mortgage from a young age. Apart from the fact that you will already have property, this will also help you become disciplined in managing your finances.


Make your dream home come true with KPR BTN

After discussing in more depth about mortgages, starting from the definition, types, application requirements, to the benefits obtained, it is time for you to determine your mortgage options to make your dream home a reality. BTN provides various kinds of building loan products that you can choose according to your needs.

One of them is KPR BTN BP2BT (Savings-Based Housing Financing Assistance), this product is a government assistance program aimed at low-income people in the informal work sector or non-fixed income. This program will provide subsidies for down payment assistance of up to IDR 40 million and competitive mortgage interest rates for the purchase of prosperous houses and prosperous flats.

Apart from that, there are also other loan products such as KPR BTN Sejahtera, KPR BTN Subsidized, KPR Tapera BTN, and so on. If you are interested, please visit our page and get more detailed information about our KPR program.

Tags: KPR, Requirements for Applying for KPR, Types of KPR

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