Home Loan Indonesia

Home Loan Indonesia

Home Loan Indonesia

Home Loan Indonesia – JAKARTA – Bank DKI’s Regional Business Division (BUMD) supports KPR DP 0 financing of IDR 198.8 billion as of April 2021.

“This credit distribution has been distributed to 730 beneficiaries in various locations that have been registered by the Housing Development Department (UFPRS),” said Bank DKI Corporate Secretary Herry Djufraini in his statement, Monday, May 31.

Home Loan Indonesia

Home Loan Indonesia

Housing supported by these loans are Samesta Sentraland Cengkareng, West Jakarta; Samawa Tower Shades of Coconut Cottages, East Jakarta; and Rusunami Bandar Kemayoran, North Jakarta.

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Herry said that his party was still processing loan applications from prospective recipients of the Rp. 0 Down Payment program. “Of course the screening will follow the precautionary principle,” said Herry.

In addition, said Herry, Bank DKI has processed more than 1,500 applications since April 2021. As a Rp.0 Loan Program bank, Bank DKI works with DKI Jakarta residents who have proven to experience extraordinary banking services. credit system as a beneficiary.

He gave an example, “The use of a DP of Rp. 0 in the Sentraland Cengkareng Apartment project developed by Perumnas is part of the role of Bank DKI in supporting the development of the city of Jakarta in improving services for the people of DKI Jakarta. “.

As is well known, a house with a DP of Rp. 0 is a project pioneered by DKI Jakarta Governor Anies Baswedan in the form of providing affordable housing for low-income people to have ready-to-use houses in DKI Jakarta.

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The criteria for potential beneficiaries of the project called Samawa houses must meet the requirements, such as residents of DKI Jakarta proven by e-KTP, do not own a house, are not currently receiving housing assistance/subsidies from the Central/Regional Government, do not have bad credit from third parties/banks or companies that are not financial in nature and have a Taxpayer Identification Number (NPWP).

Anies Baswedan changed one of the rules for homeowners with a down payment of Rp. 0. Initially, the income of a family who could maintain the house without paying (DP) was Rp. 7 million per month.

However, in the changes to DKI Anies’ Regional Medium-Term Development Plan (RPJMD), he increased the nominal income that can apply for a down payment from IDR 0 to around IDR 14 million per month.

Home Loan Indonesia

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Not only the Director of Criminal Investigation of the Indonesian National Police, Hendra Kurniawan Dragged the Name of the East Kalimantan Police Chief who was fined for mining crimes.

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46 samples have been examined, the Ministry of Health has confirmed that South Kalimantan is not positive for Polio from the books that will be carried out. Based in Jakarta, IDEAL simplifies the process with a platform that allows users to compare products and apply from multiple banks simultaneously. The startup announced today that it has raised $3.8 million in seed funding led by AC Venture and Alpha JWC, with participation from Living Lab Ventures and Ciputra Group.

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The money will be used for the production, recruitment and expansion of its products. IDEAL eventually plans to add another major lending product and expand to more Southeast Asian countries.

Started last year, IDEAL’s founding team includes Albert Surjaudaja, Ian Daniel Santoso and Indira Nur Shadrina, with Jeganathan Sethu joining this year. Prior to launching IDEAL, Surjaudaja was the former operations director at digital payment system OVO.

“Used responsibly, credit is important in supporting economic growth. It is based on results that make it profitable,” he added. “With that in mind, Indonesia has one of the lowest credit-to-GDP ratios in the region, indicating that there is a lot of economic opportunity to unlock. There are many reasons for this, but one of the main reasons is the lack of good, practical options when it comes to renting things.”

Home Loan Indonesia

Surjaudaja said traditional retail banks had a poor digital experience for their customers, making them less accessible. At the other end, there are P2P lenders and startup BNPL, but their products are aimed at smaller, more accessible loans.

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“We feel there is a market gap for conventional, productive and larger ticket loan products available on consumer digital platforms,” ​​he said. .

Surjaudaja said that IDEAL chose mortgage before its lending products because of its business potential, including a 2021 study by Bank Indonesia which said Indonesia’s mortgage market is worth $39 billion, with an estimated CAGR of 17% over the next five years. Gen Z and Gen Y are set to be the primary home ownership audience.

Indonesia’s gross domestic product is only 3% of local GDP, one of the lowest in Southeast Asia.

Surjaudaja added that the traditional lending process is very manual, fragmented and takes a lot of time and effort from customers.

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For example, most people have no information about how the loan process works, so it’s confusing. The process of sending data is still manual and does not match the number of participants and files with sensitive data that are not safe. Surjaudaja said customers experienced a lack of transparency about prices and had different choices, and the application process was not approved which meant they had to contact their representatives multiple times.

The IDEAL digital platform seeks to solve this problem. While mortgages are now approved by real estate agents, IDEAL lets buyers choose their mortgage. It also has a feature, called IDEAL Check, which allows people to check their credit instantly.

It helps users choose a bank by calculating fees and payments, and also includes a live application that allows users to register with multiple banks with a set of data and a time tracking system. IDEAL says its digital process is secure, and minimizes the human errors and data leaks that often occur during paper-based lending or mail applications.

Home Loan Indonesia

Other features include detailed information on assets from IDEAL co-founders, various types of banks and Kompas IDEAL, a short questionnaire that helps the platform to understand what customers want and simulates monthly payments, tenors and other information about mortgages.

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The initiative currently focuses on the housing market, but plans to expand into secondary housing and mortgage/commercial products. It will also launch a dashboard that will help users monitor and manage their mortgages. IDEAL also plans to expand other major loan products, with a long-term vision of entering more Southeast Asian markets such as Thailand, the Philippines and Vietnam.

Surjaudaja said that 60% to 70% of the Indonesian mortgage market is below the housing average. “Our market research shows the need and demand from consumers in Indonesia for how to easily carry/recycle their current mortgages, because the difference in mortgage costs in Indonesia can be very large,” with a difference of 10%. .

IDEAL receives funds from the income of banks and real estate developers for each successful loan application through the platform. It has now partnered with five banks, including CIMB Niaga, OCBC NISP and Maybank, as well as some of the largest companies in Indonesia, such as Sinar Mas Land, the Ciputra Group and the Agung Sedayu Group. The platform connects with the bank via API to simplify the data collection process.

Some of IDEAL’s competitors include Pinhome, Cermati and Cekaja. Surjaudaja said Pinhome’s business model is very property-centric, providing end-to-end solutions related to real estate ranging from home search to home financing. On the other hand, he describes IDEAL’s business model as a “customer business” and leans more towards fintech than proptech. Cermati and Cekaja, meanwhile, are aggregators that allow users to browse loan products from various banks, but Surjaudaja says they are not fully digital, do not provide informational content and also require an online-to-offline process, without prior credit assessment. – identify and pre-filter applicants for the bank.

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In a statement, AC Ventures managing partner Adrian Li said, “Indonesia’s domestic inflows are currently at 3% of local GDP. That is lower compared to Malaysia and Singapore, which are 30% or higher. This presents a US$30 billion opportunity.” if Indonesia can double its credit access to 6% through financial development. The IDEAL Group has the energy to identify gaps in the lending industry and bring together fintech and real estate experts to create a one-stop shop for loans in Indonesia.”

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