Jamkrindo Facilitates Housing Loans for Employees

INDUSTRY.co.id - Jakarta - The Indonesian Public Credit Guarantee Company (Perum Jamkrindo) facilitates its employees in the housing finance program in collaboration with PT BRI Multifinance Indonesia and PT Sarana Multigriya Finansial (Persero).

"All employees can take part in the program, only adjusted to the ability of installments. The number of loans is also flexible," said Director of Public Corporation Jamkrindo Randi Anto at the program launch event in Jakarta, Monday (09/10/2018)

Randi revealed that currently the number of employees at Jamkrindo is around 1,100 employees. Until the end of September 2018, he estimated that there would be 15 borrowers utilizing the facility.

Jamkrindo Guarantee Business Director, Amin Mas'udi, said that all Jamkrindo employees could obtain credit financing facilities with a housing finance ceiling of Rp700 million with an interest fix for 20 years.

Amin explained that the ceiling and the imposition of fixed interest rates of up to 20 years are more interesting because generally conventional financing imposes a fixed interest for only a few years, then following the market interest rate. In addition, the debt to service ratio (DSR) can reach 40 percent of take home pay.

"This is higher than the DSR that is commonly applied in housing loans, which is 30 percent of take home pay," he said.

In addition to a maximum financing ceiling of Rp. 700 million, employees who use this facility can choose the desired ownership of the building, whether the site is ready for habitation or the apartment is ready to occupy.

Jamkrindo employees are also free to choose financing proposals for buildings in any location throughout Indonesia. The installment payment process is also easier because of the salary cut scheme by the company.

 "With this collaboration housing needs for employees can now be fulfilled. We are optimistic that this will have a positive impact on the company's performance," Amin said.

In the same occasion, SMF President Director Ananta Wiyogo hoped that access to home ownership for all Jamkrindo employees could be applied and utilized in other institutions in the future.

"Through this collaboration we hope that this product can also be applied by various parties so that it can enable the realization of decent and affordable home ownership," he said