Find the best way to apply for a BRI mortgage, with complete information about products, interest rates, application requirements, and related costs to help you own a home more easily.
BRI Home Ownership Credit (KPR) is a financing solution designed to help people own their dream home through a more affordable installment system.
With a variety of product choices, competitive interest rates, and an easy application process, KPR BRI is one of the best options for anyone who wants to own a home.
This article will discuss KPR BRI products, the latest application requirements, cost details to consider, and the various benefits you will get when choosing this service.
What is BRI KPR?
BRI Home Ownership Credit (KPR) is a financing service that allows customers to buy, build, or renovate a house by paying in installments. This product provides convenience for those who want to own a house, but are unable to pay in cash.
As one of the largest banks in Indonesia, Bank Rakyat Indonesia (BRI) offers KPR with competitive interest rates, as well as various conveniences in the application and disbursement process.
BRI KPR can also be used to purchase other properties besides houses, such as apartments, shophouses, and other commercial properties.
BRI Mortgage Products: Complete Property Financing Options
BRI offers various types of mortgage products that can be tailored to customer needs and capabilities. Some of BRI’s main popular mortgage products are:
1. Regular mortgage
BRI Regular KPR is the main product designed for purchasing residential homes, both new and used homes.
Customers can choose the installment tenor according to their financial capabilities, and enjoy competitive interest rates. This product is suitable for those who want to buy their first home or who already have a home but want to move to a new residence.
2. Prosperous Mortgage (FLPP)
KPR Sejahtera, also known as FLPP (Housing Financing Liquidity Facility), is a subsidized product aimed at low-income communities. With a maximum family income limit of IDR 8 million per month, KPR Sejahtera provides an opportunity for low-income families to buy their first home with lower interest rates.
3. Mortgage Refinancing and Top Up
This product provides an opportunity for customers who already have a mortgage at another bank to refinance with a lower interest rate, or to add a loan for renovations or other needs.
4. Mortgage Take Over
If you already have a mortgage with another bank, KPR Take Over allows you to move your home financing to BRI with more profitable interest. This is the right solution for those who want to reduce the burden of monthly installments.
5. Mortgage for Construction and Renovation
This mortgage product is designed for those who want to build a new home or renovate an existing home. The disbursement process is carried out according to the stages of construction or renovation, providing more flexibility in managing funds.
Latest BRI Mortgage Application Requirements
If you are interested in applying for a BRI mortgage, make sure you meet the following latest requirements:
1. Minimum age 21 years or married
Applicants must be at least 21 years old or married. If the application is made together with a partner, both parties must meet these requirements.
2. BRItama Account
Customers who want to apply for BRI KPR must open a BRItama savings account at BRI. This account is needed to facilitate the transaction process and installment payments.
3. Required Documents
Some documents that need to be prepared include a photocopy of your ID card, a photocopy of your Family Card (KK), NPWP, recent passport photo, salary certificate, and other documents as needed.
4. Same Residence and Branch Office Location
The debtor must live or work in the same city as the BRI branch office where the KPR application is made.
Costs Associated with BRI Mortgage Application
Before applying for a mortgage, there are several costs that need to be prepared by prospective applicants. Here are the details of the costs commonly charged in applying for a BRI mortgage:
1. Provision Fee (1% of Total Loan)
A provision fee of 1% of the total loan is charged for KPR applications. This fee is a service fee to the bank for managing and approving credit applications. Typically, this provision fee is deducted directly from the approved loan amount.
2. Administration Fee (0.1 % of Total Loan)
An administration fee of 0.1 % of the total loan is intended to cover administrative processing costs related to credit application and management.
3. Life Insurance Costs
BRI KPR customers are required to pay life insurance fees to protect their families in the event of an accident or death. The amount of this insurance premium depends on the age and health condition of the applicant.
4. Notary Fees for Credit Agreements
Notary fees are required to draw up a credit agreement between the customer and the bank. This fee is calculated separately from other fees and adjusted according to applicable rates.
5. APHT Fee ( 0.25 % of 125% of Credit Value)
This fee is related to the making of the Deed of Granting of Mortgage Rights which is used as collateral for loan repayment. This fee is calculated at 0.25 % of the credit value which reaches 125% of the loan amount.
BRI’s Competitive Mortgage Interest Rates
One of the main reasons why many customers choose KPR BRI is the competitive interest rate. Bank Rakyat Indonesia offers lower interest rates compared to many other banks, especially for the KPR Sejahtera (FLPP) product which is intended for low-income people. Here are some details about the interest rates offered:
1. Regular Mortgage Interest Rate
For regular mortgages, the interest rates offered by BRI are very competitive with other banks in the market. BRI provides flexibility in choosing a tenor that can be adjusted to the customer’s financial capabilities.
Usually, the longer the tenor, the lower the monthly installments will be even though the total interest paid will be higher.
2. Prosperous Mortgage Interest Rate (FLPP)
The interest rate for KPR Sejahtera is lower, making it very attractive for low-income families. This product provides convenience for those who are buying their first home and want to get facilities with lower interest rates.
3. Flexibility of Mortgage Tenor
One of the advantages of BRI KPR and BCA KPR is the flexibility of the tenor which allows customers to choose installments that suit their financial capabilities. Tenor can be selected from 5 years to 20 years.
BRI mortgage is the right choice for those who want to have their dream home without having to pay in cash.
With a variety of products that can be tailored to your needs, competitive interest rates, and an easy application process, BRI makes it easy for people to realize their dream of owning a home.
Before applying for a mortgage, make sure you understand the products available, meet the requirements set, and prepare the necessary costs.
With a complete understanding of BRI mortgage products, you will be better prepared to take the next step to owning your dream home.