Jakarta - Bank Indonesia will continue the policy of easing the provisions for credit down payments or financing for motor vehicles and property until next year.

"Continuing the easing of the provisions for down payment for motor vehicle loans/financing to at least 0% for all types of new motor vehicles to encourage loan growth in the automotive sector while still paying attention to the principles of prudence and risk management, effective January 1, 2022 until December 31, 2022 ," said BI Governor Perry Warjiyo in a virtual press conference on Tuesday (19/10).

In addition, BI also continued to relax the Loan to Value/Financing to Value (LTV/FTV) ratio of loans or property financing to a maximum of 100% for all types of property (treaded houses, flats, and shophouses/houses), for banks that meet certain NPL/NPF criteria and removing the provision for gradual disbursement of pivot properties to encourage loan growth in the property sector.

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