Home Refinancing

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.

1. Home Refinancing Submission of Bank Commonwealth
   1. Go to Branch Office Bank Commonwealth or Call CommBank 15000 30.
   2. Fill submission form & submit the required document*
   3. Receive the information of approved submission**
   4. Sign the offering letter and payment of fees
   5. Credit Agreement Signing
   6. Credit Realisation

   * Including proof of appraisal fee payment
   ** If Decision of Credit Application is decline, Bank officer will send notification letter to Customer to inform that the loan application can’t be processed further because it doesn’t meet the lending criteria of Bank.

2. Home Refinancing Submission - via CommBank e-KPR*
   1. Go to CommBank e-KPR, and complete account registration
   2. Application process & get In-Principle Approval**
   3. Pay the appraisal fees & upload supporting document.
   4. Issuance & signing of offering letter, payment of fees**
   5. Credit Agreement Signing
   6. Credit Realisation

   * Home Refinancing Submission via e-KPR website only applies to Customer who work as employees with collateral conditions ready for occupancy.
   ** If Decision of Credit Application is decline, CommBank e-KPR will notify prospective debtor to inform the loan application can’t be processed further because it doesn’t meet the lending criteria of Bank.

3. 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
   Currency	IDR
   Loan Limit	Up to 20 billion
   Repayment	Auto debet
   Loan Period	Residential house, apartment, shop house, office house, and vacant land with construction purpose: 3 – 20 years Vacant land without construction purpose: 3 – 5 years.
   Take Over Facility	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

4. Eligibility

   Age	Minimum 21 tahun Maximum 60 years at the end of land period* (for employee) 70 years at the end of land period* (for entrepreneur/professional)
   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/ director/ commissary with age above 65 years old can be processed until 70 years with condition covered by credit life insurance

5. Required Documents

   Collateral Documents (photocopy)

   Land Ownership Certificate (HM/HGB/HMSRS)

   Deed of Sales & Purchase (AJB)

   Building Permit (IMB)

   Latest Land and Building Tax (PBB)

   Receipt of appraisal fee payment (for mortgaged land & building)*

   Building Blueprint (if any)

   * Authentic Document
   
   
   

   Personal Document (fotokopi)

   Personal Document	Employee	Entrepreneur	Professional
   ID Card of applicant & spouse	v	v	v
   Marriage Certificate or Statement of Single	v	v	v
   Family Card	v	v	v
   Tax ID or Annual Tax Payment	v	v	v
   The latest Salary Slip and Company’s Statement Letter/ Work Reference	v	-	-
   Saving Account/Current Account for the last 3 months	v	v	v
   Article of Establishment & Articles of Association	-		v
   NIB (Business Identification Number) published by OSS (Online Single Submission)	-	v	-
   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	-

   * Authentic Document
   
   
   

6. Fees and Charges

   Provision Fee	1% from loan value
   Administration Fee	<= IDR500 million = IDR300,000 > IDR500 million – IDR1 billion = IDR750,000 > IDR1 billion – IDR3 billion = IDR1,000,000 > IDR3 billion = IDR1,500,000
   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	For appraisal in Jabodetabek and Surabaya: starting from IDR 500,000 For appraisal outside Jabodetabek and Surabaya: starting from IDR 1,350,000
   Notary Fee	Follow the standard Notary Fee of Notary partners
   Documents Storage Fee for Settled Loan:	IDR 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.

   Catatan:
   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

7. Product Risk

   The risks attached to this Home Refinancing product are:

   1. Change of interest rates that can be done at any time and it will be informed to customers through SMS, branches, website, or other media deemed appropriate by the Bank.
   2. Increase in interest rates can result in the number of monthly instalments being higher than before
   3. Late payment from the due date causes the Customer to pay a late penalty and will affect the collectability status of the debtor's loan recorded at Bank Indonesia
   4. The customer will be charged a settlement fee/penalty if perform early repayment either full or partial from the agreed schedule, where the amount of the repayment fee/penalty is stated in the Credit Agreement signed by the Customer
   5. If the Customer fails to pay or is in default, it can cause the collateral to be confiscated by the Bank and may incur additional fees (eg collection fees, restructuring fees, administration fees, auction fees and other costs).

Home Refinancing can be applied through:

• Nearest Branch Office of Bank Commonwealth
• Call CommBank 15000 30
• Online through CommBank e-KPR. CommBank e-KPR is an innovation from PT Bank Commonwealth to help your home financing loan submission #somucheasier, transparent and fast to get In-Principle Approval in 1 day.

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