Bank Tabungan Negara Launches Rent-to-Own Mortgage Program

JAKARTADAILY.ID – PT Bank Tabungan Negara (BTN) launched the BTN Rent-to-Own mortgage program. 

The Rent-to-Own, otherwise known as a "rental purchase" is a system where the owner would lease an item, in this case property, in which the lesee could purchase the property during or after the lease term.

Director of Consumer for Bank BTN, Hirwandi Gafar said that BTN realized that most of the millennial generation prefer to rent or rent a house for various reasons, including the reason that they have not prepared Down Payment.

Hirwandi said added that BTN Rent to Own mortgages is a solution for the millennial generation to get their dream house. With BTN Rent to Own mortgages, people can pay rent every month while allocating savings for buying a house.

Also read: Bank BTN Records Net Profit of Rp 1.47 Trillion in First Half of 2022

"Rent to Own can also help those who want to own a house, including people who are not yet bankable because by using the Rent to Own scheme they are trained to pay installments regularly and will be an assessment in providing mortgages after the rental period is over," said Hirwandi at the time. Rent To Own mortgage launch event in Jakarta, Wednesday, October 12, 2022.

To encourage the distribution of Rent To Own mortgages, BTN cooperates with two Rent To Own Providers (RTO Providers), namely CicilSewa and TapHomes.

Both are RTO Providers that already have collaborations with many developers, and have many and varied residential options to offer to consumers.

Also read: Bank BTN Partners with Gred Group to Market Mortgages for Thousands of Affordable Homes in Bekasi

"Both of our partners, CicilSewa and TapHomes, are strategic partners of BTN in distributing BTN Rent To Own mortgages, because both have good infrastructure, with attractive features and make it easier for consumers to have their dream home," said Hirwandi Gafar.

The collaboration with TapHomes and CicilSewa is also Bank BTN's commitment in building a digital housing ecosystem as one stop shopping for housing.

Currently, there are more than 20 site and vertical residential developers collaborating with RTO providers. Meanwhile, the target for distributing Rent To Own mortgages is around 1,000 applicants who enter during the first year of this program being released.

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