BRI Home Ownership Loans or KPR can be an option for people who want to easily own their dream home through an installment scheme at the bank. Many banks offer mortgage schemes with different terms and conditions.

One of them is KPR BRI. Currently, the effective interest rate for BRI mortgages for 2023 is 5%. This BRI KPR can be submitted for people who want to have housing in the form of landed houses, apartments, condotels, office-houses, and shop-houses.

Purchasing housing using BRI KPR loans also applies to purchases of new, used, renovation, refinancing , top up, construction, or take over from other banks. The following are BRI KPR requirements and detailed explanations in this article:

  • BRI KPR Submission Requirements
  • Types of BRI KPR
  • BRI KPR Interest Rates
  • Latest BRI KPR Fees
  • BRI Mortgage Installment Simulation

BRI KPR Terms

Reporting from the official BRI website, there are several requirements that customers must follow and complete if they want to apply for a 2023 BRI KPR loan. The following are the requirements that must be met:

  1. At least 21 years old or married
  2. Open a BRItama account
  3. Fill out the BRI KPR application form
  4. The location of the customer's residence, work, business or practice is in the city where the BRI branch office is located
  5. Prepare documents in the form of photocopies of ID cards, family cards, NPWP, recent passport photos of spouses, and salary certificates

Applying for a mortgage to buy a house at BRI bank can be realized if you have fulfilled all the existing requirements. If you have met all the requirements needed. Immediately check the list of the best residences in the East Jakarta area below Rp. 1 billion below!

Types of BRI KPR

As previously explained, BRI also facilitates its customers who want to have a dream residence with the BRI KPR program. There are 2 types of BRI mortgage programs offered, including the following.

1. Non-subsidized KPR

This service is prioritized for people who are not included in the low-income community (MBR). This is because this KPR has floating interest provisions that apply at 6.5% ( fixed for the first 1 year) and 9.5% (fixed for the first 3 years) for a tenor of up to 20 years.

2. Subsidized BRI KPR

KPR BRI is an individual credit service from Bank BRI that aims to make it easier for someone to own their dream home, whether it's a new house or a used house with a certain limit. This subsidized BRI KPR has a different interest rate according to the program.

BRI KPR Interest Rates

Currently, BRI offers quite an attractive mortgage program with a flat interest rate of 6.5% for the first year. Apart from that, there is also a BRI KPR promo with a flat interest rate of 9.5% for the first 3 years. Henceforth, it will follow the floating interest rate according to the interest rate set by Bank Indonesia.

The advantage of BRI KPR is that it has a long tenor of up to 20 years. This can be an attractive option for customers so that they can be more flexible in arranging monthly installments. Not only that, BRI KPR also applies low credit fees so it won't burden its customers.

No need to worry, BRI KPR customers also get insurance. The BRI mortgage process can be said to be fast. As a customer, you only need to prepare the required mortgage documents and then in a matter of days you will know whether your mortgage application has been approved or not.

Latest BRI KPR Fees

If you want to apply for a mortgage from BRI, the customer is also required to pay the following fees, including:

  • Provision fee of 1% of the total loan. For information, the provision fee is a fee paid to the bank as a fee because the credit or mortgage application is approved. Usually this fee is automatically deducted from the loan amount obtained
  • Administration fee of 0.1% of the total approved loan
  • Another mortgage contract fee that must be paid is life insurance. This is necessary, to protect the customer's family if at any time they have an accident or die. The amount of this life insurance premium depends on the age and health condition of the customer. The cost will be more expensive if the customer's age exceeds the limit. The official fee depends on each bank, because there are also banks that do not require life insurance payments.
  • Cost of a notary-credit agreement. It should be noted, the details of the notary fees are usually separate from the costs of transfer of names as well as the seller's and buyer's taxes. In binding credit through a notary, the funds charged are in accordance with the cooperation rate between the bank and the notary.
  • Guarantee APHT fee. In this case, the Deed of Granting Mortgage Rights (APHT) can be considered as a guarantee for repayment of debt between the bank and the customer, based on the terms and conditions for granting Mortgage Rights. APHT fees vary, this is usually based on the convention of 0.25 percent of 125 percent credit score.

BRI Mortgage Installment Simulation

If you want to apply for a BRI KPR, here's a simulation of the monthly installments:

For example, you want to buy a house for Rp. 600 million. The plan is for you to take a BRI mortgage loan with a tenor of 15 years. If the down payment required in giving a house is 30 percent.

Then the DP ( down payment ) is IDR 180 million. The loan ceiling is IDR 420 million. With an interest of 6.5% for the first year, the estimated monthly installments in the first year are around IDR 3,321,333.23.