Struggling with Mortgage Payments? BRI's Take Over Programme Offers Rates Starting from 2.50 Percent
For mortgage (KPR) credit warriors, the shift from fixed to floating rate payments often presents a significant challenge. On average, borrowers experience an increase of 13% in their instalments. To avoid further burdening the payments, debtors may consider transferring their KPR (take over) to another bank. However, before taking this step, debtors should carefully compare the effective interest rate, fixed tenor, and transfer costs.
In response to the needs of customers seeking to pay off their KPR with lower rates than the current floating scheme, PT Bank Rakyat Indonesia (Persero) or BRI has introduced the BRI KPR Take Over programme as a concrete solution. This programme enables customers currently holding KPR at other banks to transfer their credit to BRI with more competitive and flexible financing terms.
BRI KPR Take Over is a facility for transferring KPR from another bank or financial institution to BRI. In mechanism, BRI will settle the remaining loan balance of the customer at the old bank, then create a new credit agreement between BRI and the customer.
The application for BRI KPR Take Over is similar to applying for a new KPR, including credit analysis and re-appraisal of the property. Through this re-appraisal, customers have the potential to obtain a higher collateral value, opening opportunities to secure additional funds or credit top-up if needed.
The types of properties that can be transferred include residential houses, apartments, shophouses, and shop-houses. Thus, the programme’s scope is broad and can accommodate the needs of customers with various property ownership profiles.
The main attraction of this programme lies in BRI KPR’s more competitive interest rates compared to the floating rate scheme currently in place at the old bank. BRI offers adjustable schemes tailored to the customer’s profile. For Prima Customer Service (LNP) customers as well as employees of companies with payroll partnerships with BRI and BRI Group, special rates start from 2.50% fixed for 1 year.
There are also stepped and fixed throughout the tenor schemes with rates starting at 7.25%. For general customers outside those segments, the offered rates start from 4.50% fixed for 1 year if the current KPR rate is below 10%, or from 5.50% fixed for 1 year if the existing rate is 10% or above.
Full details of the interest rate schemes can be viewed at bbri.id/kprtakeover. Simulations can be checked via https://bri.co.id/simulasi-kpr/.
BRI also offers long and flexible tenors of up to a maximum of 25 years for customers with fixed incomes and 20 years for non-fixed income customers. Thus, monthly instalments can be adjusted to the customer’s financial capacity.
Another appealing advantage is the opportunity to obtain top-up funds. If the value of the mortgaged property has increased since the initial KPR was taken, the difference in value can be disbursed as additional funds for various needs, from home renovations and children’s education to business capital.
From the application side, the process is designed to be easy and transparent. Customers simply follow structured stages starting from submitting the application, credit analysis, property re-appraisal, settlement of the loan at the old bank, to signing the new credit agreement with BRI.
Before applying for BRI KPR Take Over, there are several requirements that prospective customers must meet. One of them is that the KPR at the original bank must have been running for at least one year and have no history of arrears.
Additionally, customers are required to place a minimum deposit equal to one instalment in the form of blocked savings during the fixed interest rate period.
The BRI KPR Take Over offers various services, such as pure take over, take over with top-up funds, top-up only, or in-house account take over specifically for developers partnering with BRI.
For customers beginning to feel burdened by floating rate-based KPR instalments, BRI KPR Take Over can be a solution worth considering to reorganise household finances. With potentially lighter instalments, flexible tenors, and opportunities for additional funds, this programme offers relevant benefits for various needs. For more complete information and applications for BRI KPR Take Over, customers can visit the nearest BRI branch office or access official information through the link bbri.id/kprtakeover.