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.
- Home Refinancing Submission of Bank Commonwealth
- Go to Branch Office Bank Commonwealth or Call CommBank 15000 30.
- Fill submission form & submit the required document*
- Receive the information of approved submission**
- Sign the offering letter and payment of fees
- Credit Agreement Signing
- 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.
- Product Features Summary
Interest Rate TypeChoices of interest rate according to Customer’s needs:
- Fixed rate for up to 5 years after loan disbursement and floating afterward
- Floating rate since disbursement until loan maturity
CurrencyIDR Loan LimitUp to 20 billion RepaymentAuto 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 FacilityTransfer existing customer’s home financing/home refinancing from other providers to Bank Commonwealth Top-Up FacilityOpportunity to have additional loan amount on the existing Bank Commonwealth Home Financing/Home Refinancing ProtectionCoverage by life and fire insurance
AgeMinimum 21 tahun
- 60 years at the end of land period* (for employee)
- 70 years at the end of land period* (for entrepreneur/professional)
ResidenceAny cities with Bank Commonwealth representative office (applied for residential, office/business location, and collateral Working PeriodsMinimum 2 years NationalityIndonesian 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
- 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 DocumentEmployee Entrepreneur Professional ID Card of applicant & spousevvv Marriage Certificate or Statement of Singlevvv Family Cardvvv Tax ID or Annual Tax Paymentvvv The latest Salary Slip and Company’s Statement Letter/ Work Referencev-- Saving Account/Current Account for the last 3 monthsvvv 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
- Fees and Charges
Provision Fee1% 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 FeeFollow 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 FeeFollow the standard Notary Fee of Notary partners Documents Storage Fee for Settled Loan:
IDR 55,000 (including tax 10%) per month – no prorate
- Documents Storage Fee will be levied starting one month after the loan settlement date.
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
- Product Risk
The risks attached to this Home Refinancing product are:
- 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.
- Increase in interest rates can result in the number of monthly instalments being higher than before
- 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
- 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
- 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
List of insurance company which has cooperation agreement with PT. Bank Commonwealth is as follow: