Good News From BI, Home Credit And Vehicles Can Be DP 0 Percent Until December 31, 2023

BI Governor Perry Warjiyo (Photo: Capture the screen of the Ministry of Finance's Youtube)

JAKARTA Bank Indonesia (BI) provides down payment (DP) of up to 0 percent for people who apply for housing loans (KPR) and motor vehicle loans.

The statement was delivered directly by BI Governor Perry Warjiyo at a press conference on the Financial System Stability Committee (KSSK) in the third quarter of 2022 which was held today.

"Bank Indonesia continues to relax the provisions for down payment for motorized vehicle credit/financing and property to at least 0 percent effective January 1, 2023, to December 31, 2023," he said online on Thursday, November 3.

Perry detailed, for DP 0 percent applies to all types of properties, be it landed houses, flats, as well as shop houses (ruko) or office houses (rukan).

"Meanwhile, the automotive sector also applies to all types of new motorized vehicles," he said.

According to Perry, this attitude was taken into account the current condition of the Indonesian economy which was deemed to still require acceleration.

"This is to encourage credit growth while still paying attention to the principles of prudence and risk management," he said.

In its application in the field, the central bank stipulates several provisions. One of the most important is that banks that are lending or financing must meet the criteria for the ratio of non-performing loans (NPL) and the ratio of non-performing financing (NPF) at a certain level.

"Bank Indonesia is committed to continuing the implementation of accommodative macroprudential policies to encourage lending and banking financing," said BI Governor Perry Warjiyo.