New OJK SLIK Rules: Defaults Over Rp 1 Million Bar Subsidised Mortgages

JAKARTA - Individuals with credit defaults exceeding Rp 1 million will still be unable to access subsidised Home Ownership Credit (KPR) automatically. The Financial Services Authority (OJK) emphasises that problematic credit records at that amount must be settled first. OJK Commissioner Chairman, Friderica Widyasari Dewi, explained that the latest policy on the Financial Services Information System (SLIK) now only provides leniency for defaults below Rp 1 million. This means that for prospective debtors with defaults above that threshold, the credit status remains recorded and serves as a reference for banks in determining loan eligibility. A problematic credit history must be resolved to avoid delays in the home application process. The good news is that OJK has streamlined the bureaucratic data system. The process of updating settled credit status in SLIK is now shortened to a maximum of three working days (H+3). Previously, people often complained about the slow removal of their names from the SLIK system even after debts had been paid. With this acceleration, the settled status will appear promptly, allowing people to proceed more quickly with their KPR applications. This policy adjustment aims to support the housing development programme for low-income communities (MBR) without neglecting banking prudence principles. The government hopes this step provides legal and technical certainty for prospective homeowners who have fulfilled their financial obligations.