Bank BSN Launches Mortgage Programme for Informal Workers

PT Bank Syariah Nasional (Bank BSN) has launched the BSN Siap KPR programme to expand access to home financing for low-income communities, particularly workers in the informal sector. The programme prioritises building a banking transaction track record through a savings habit before prospective debtors apply for a mortgage. Bank BSN President Director Alex Sofjan Noor stated that the company has obtained a quota to distribute 73,700 subsidised mortgage units in 2026, an increase of approximately 34.8 percent compared to the previous year’s realisation of 54,700 units. “The housing sector is one of BSN’s main strengths and identities. This year’s quota of 73,700 units demonstrates the significant responsibility and trust placed in BSN to support the national housing programme,” Alex said during the programme launch in Jakarta on Friday. Alex explained that many informal workers have been unable to access mortgages not because they cannot afford the instalments, but because they lack an adequate transaction track record to be deemed creditworthy by banks. Through this programme, prospective debtors are directed to save regularly for three to six months via Bank BSN’s digital application as an effort to build a financial track record while improving financial literacy. By the end of 2026, Bank BSN is targeting the programme to reach around 1,000 prospective debtors from partner housing developers. Alex said the strategy also targets the potential of low-income communities who are unbanked. As of June 2026, Bank BSN’s mortgage financing realisation had reached approximately 82 percent of the annual target. Director General of Urban Housing at the Ministry of Housing and Settlement Areas, Sri Hartati, assessed that the scheme could help expand home financing access for informal sector workers amidst a home ownership backlog reaching 9.97 million households, based on the National Socio-Economic Survey by Statistics Indonesia. “Informal workers are given the opportunity to save first, so that from the banking side, credit quality can be maintained and the risk of non-performing loans can be mitigated. This is an excellent breakthrough so that we can truly encourage informal workers to gain access to subsidised housing,” Sri said. Sri stated that Bank BSN’s target for distributing subsidised landed house mortgages in 2026 is 69,630 units. As of mid-July 2026, realisation had reached 29,309 units, or around 42.09 percent of the target. Meanwhile, BP Tapera Commissioner Heru Pudyo Nugroho said the government continues to strive to resolve obstacles on both the demand and supply sides of housing. One such measure is a policy ensuring that credit records in the Financial Information Service System for loans of up to Rp1 million no longer hinder subsidised mortgage applications. “We continue to optimise our partnership with Bank BSN. On the regulatory side, the issue of small loans in SLIK has been resolved. Furthermore, together with the Ministry of Housing, we are also formulating a scheme for urban flat mortgages with a tenor of up to 40 years for low-income earners with incomes below Rp4 million,” Heru said.