Home Refinancing

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Product Benefit:

Home Refinancing from Bank Commonwealth is mortgage loan facility given to individual, where the borrower is using the loan fund for various consumptive purposes with a property (house, apartment, shop house, office house, or vacant land with a purpose to be constructed) as a collateral.

Product Features Summary :

Interest Rate Type Choices of interest rate according to Customer’s needs:
  • Fixed rate for certain period after loan disbursement and floating afterward
  • Floating rate since disbursement until loan maturity (KPR Bebas)
Currency IDR
Loan Limit Up to IDR 20 billion
Repayment Auto Debit
Loan Period Residential house, apartment, shop house, office house, and vacant land with construction purpose : 3 – 20 years
Take Over Facilitiy Transfer existing customer’s home financing/home refinancing from other providers to Bank Commonwealth
Top-Up Facility Opportunity to have additional loan amount on the existing Bank Commonwealth Home Financing/Home Refinancing
Protection Coverage by life and fire insurance


Eligibility :

Age
Minimum : 21 years
   
Maximum  
Employee : 60 years at the end of loan period*
Entrepreneur/Professional : 70 years at the end of loan period*
Residence any cities with Bank Commonwealth representative office (applied for residential, office/business location, and collateral
Working Periods Minimum 2 years
Nationality Indonesian citizen.
* Home Refinancing application from employee with age above 57 years old can be processed until 60 years at the end of loan period if applicant can submit valid supporting document statement of retirement period from the employer. Home Refinancing application from entrepreneur with age above 65 years old can be processed until 70 years at the end of loan period if applicant can submit successor information. Home Refinancing application from director/ commissary with age above 65 years old can be processed until 70 years at the end of loan period if applicant can submit work reference letter.

Required Documents:

Collateral Documents:
  • Copy of Land Ownership Certificate (HM/HGB/HMSRS)
  • Copy of Deed of Sales & Purchase (AJB)
  • Copy of Building Permit (IMB)
  • Copy of the latest Land and Building Tax (PBB)
  • Receipt of appraisal fee payment (for mortgaged land & building)
  • Copy of Building Blue Print (if any)
Personal Documents Employee Entrepreneur Professional
Copy of applicant’s and spouse’s ID Card v v v
Copy of Marriage Certificate or Statement of Single v v v
Copy of Family Card v v v
Copy of Tax ID or Annual Tax Payment v v v
The latest Salary Slip and Company’s Statement Letter/ Work Reference v - -
Copy of Saving Account/Current Account for the last 3 months v v v
Copy of Article of Establishment & Articles of Association - - v
Copy of NIB (Business Identification Number)/ SIUP (Trading License) published by OSS (Online Single Submission) - v -
Copy of Financial Report for the last 2 years (if any) - v -
Statement Letter regarding credit for property ownership and credit for consumptive purpose with property as collateral v v v
Copy of applicant’s and spouse’s ID Card v v v

Fees & Charges:

Provision Fee 1% from loan value
KPR Bebas = Free of charge
Administration Fee
<= IDR500 million = IDR 300.000
> IDR500 million – IDR1 billion = IDR 750.000
> IDR1 billion – IDR3 billion = IDR 1.000.000
> IDR3 billion = IDR 1.500.000
KPR Bebas = free of charge
Early Repayment Fee (Full/Partial) Will be charged in accordance with the applicable fee and will be informed to the customer through Offering Letter
Life Insurance Premium Fee Follow the standard Life Insurance Premium Fee of Insurance partners and will be informed to the customer through Offering Letter
Fire Insurance Premium Fee Follow the standard Life Insurance Premium Fee of Insurance partners and will be informed to the customer through Offering Letter
Appraisal Fee Follow the standard Appraisal Fee of Appraisal partners
Notary Fee Follow the standard Notary Fee of Notary partners
Documents Storage Fee for Settled Loan: Rp 55,000 (including tax 10%) per month – no prorate

Note:
  • Documents Storage Fee will be levied starting one month after the loan settlement date.
  • Example:
    In case where the loan settlement date is on Jul 5th 2019, Document Storage Fee will be levied starting Aug 6th 2019 onwards until the documents are collected.

*) For Loan Applicant: Fees and Charges is subject to change and it will be informed to customers through media deemed appropriate by the Bank
For Existing Customer: The cost incurred will be the one stated in the Credit Agreement

Submission Procedure :

Product Risk :

The risks attached to this Home Refinancing product are the change of interest rates that can be done at anytime and it will be informed to customers through SMS, branches, website or other media deemed appropriate by the Bank.

Installment Simulation :

Complete the fields here to estimate your loan

Other Information :

List of insurance company which has cooperation agreement with PT. Bank Commonwealth is as follow:

No. Life Insurance
1. PT FWD Insurance Indonesia
2. PT. Panin Dai-ichi Life
3. PT. Chubb Life Insurance Indonesia

No. Fire Insurance
1. PT. Asuransi MSIG
2. PT. Asuransi Dayin Mitra
3. PT. Sompo Insurance Indonesia

For further information about Home Refinancing Product, please contact:
- Call CommBank can be accessed through 1500030 or (62 21) 2935 2935 for international access.
- Nearest Bank Commonwealth's branch office

Starting from 1 December 2018, floating interest rate of/Home Refinancing is changed to 14.25% p.a. effective.

PT Bank Commonwealth Credit Agreement for Home Refinancing has been adjusted to comply with laws including the Financial Services Authority regulations

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