Early 2024 Home Loan Interest Rates Lower Than Five Years Ago

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Adi Ahdiat 03/05/2024 15:54 WIB

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According to OJK data, the average base interest rate (BIR) for national home ownership loans (HOL) reached 8.98% in February 2024, lower than the 2019 average of 10%.

National Average Base Interest Rate for Home Ownership Loans (January 2019-February 2024)

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Early 2024 Home Loan Interest Rates Lower Than Five Years Ago

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National Average Base Interest Rate for Home Ownership Loans (January 2019-February 2024)

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According to data from the Financial Services Authority (OJK), the average base rate for home ownership loans (KPR) nationally reached 8.98% in February 2024.

This figure is slightly higher than in 2022-2023, where the average base rate ranged from 8.5% to 8.9%.

However, the KPR interest rate at the beginning of this year is still lower than the period from 2019 to Q3 2021, which averaged between 9.1% and 10.8%.

The figures recorded here represent the average monthly KPR base rate from 82 banks operating in Indonesia, encompassing state-owned banks, national private banks, foreign private banks, and regional development banks.

The base rate (SBDK) is the basic interest rate that does not yet include risk premiums.

The amount of the risk premium is determined by each bank based on its assessment of the borrower. Therefore, the final credit interest rate charged to the borrower is not necessarily the same as the base rate.

Editor : Adi Ahdiat

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."

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Early 2024 Home Loan Interest Rates Lower Than Five Years Ago

Early 2024 Home Loan Interest Rates Lower Than Five Years Ago

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Early 2024 Home Loan Interest Rates Lower Than Five Years Ago

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