JAKARTA, KOMPAS.com – State-Owned Enterprises (BUMN) banks were busy demeaning interest rate basic credit (prime lending rate) as of the end of February 2021.
This follows the cut in the BI-7DRRR benchmark interest rate to 3.50 percent in February 2021. Previously, Bank Indonesia (BI) disclosed data that state-owned banks were classified as having the most difficulty in lowering prime lending rates.
BI even mentions that high credit interest rates are one of the reasons debtors are reluctant to return to the bank. Now, state-owned banks have responded to the decline in the central bank’s benchmark lending rate.
The rate of decline varies based on bank policy and credit segment. Following are the details of SBDK cuts at each state-owned bank.
PT Bank Rakyat Indonesia (Persero) Tbk lowered prime lending rates for all segments since February 28, 2021.
When detailed, interest rate cuts that occurred in all segments, corporate, retail, micro, mortgage and non-mortgage loans were in the range of 150 basis points (bps) -325 bps.
The largest decline in prime lending rates was given to non-mortgage consumer loans by 3.25 percent. With this decrease, the prime lending rate for non-mortgage loans has changed from the original 12 percent to 8.75 percent.
In addition, BRI lowered the prime lending rate for mortgages by 2.65 percent, from 9.90 percent to 7.25 percent.
The prime lending rate reduction was also made for the micro segment by 2.5 percent. This change makes the prime lending rate micro drop from 16.50 percent to 14 percent.
In the corporate and retail loan segments, BRI decreased the prime lending rate by 1.95 percent and 1.5 percent, respectively. Thus, currently, the prime lending rate for corporations has changed from 9.95 percent to 8 percent. Then, the prime lending rate for the retail segment was reduced from 9.75 percent to 8.25 percent.
Prime Lending Rate cut was also carried out by PT Bank Tabungan Negara (Persero) Tbk for all credit segments.
On the company’s website, the issuer coded as BBTN shares recorded lower prime lending rates in the corporate credit, retail credit and consumer credit segments.
Prime Lending Rate for Home Ownership Loans (KPR) recorded the highest interest decline of 270 bps.
In corporate credit, the prime lending rate fell 190 bps from 9.9 percent in December 2020 to 8 percent in February 2021.
In the retail credit segment, BBTN cut interest by 165 bps from 9.9 percent in December 2020 to 8.25 percent in February 2021.
Then, in the consumer credit segment, the prime lending rate for mortgages was recorded to have dropped by 270 bps from 9.95 percent in December 2020 to 7.25 percent in February 2021.
Then, the Non-KPR prime lending rate was cut by 250 bps from 11.25 percent in December 2020 to 8.75 percent in February 2021.
In line with that, PT Bank Negara Indonesia (Persero) Tbk also cut loan interest rates.
The details for Non-KPR Consumption Credit as of February 28, 2021, the prime lending rate for BNI is set at 8.75 percent. Interest rate This has decreased compared to the end of December 2020 which reached 11.7 percent.
Likewise for mortgage loans which were set at 7.25 percent, or down from 10 percent at the end of 2020.
Not only that, BNI also lowered the prime lending rate for retail credit to 8.25 percent. This interest rate is lower than the position at the end of December 2020, namely 9.8 percent.
The prime lending rate for corporate loans is set at 8 percent, or a decrease compared to the position in December 2020, which is 9.8 percent.
PT Bank Mandiri (Persero) Tbk also lowered prime lending rates for all segments. The reduction in the basic lending rate is around 25 basis points (bps) to 250 bps.
In detail, the prime lending rate for the corporate segment is 8.00 percent. Then the prime lending rate for the retail segment becomes 8.25 percent and the micro segment becomes 11.25 percent.
Meanwhile, the prime lending rate for the consumer segment for mortgages fell to 7.25 percent and for non-mortgage consumers to 8.75 percent. This interest rate is effective starting February 28, 2021.
(Source: KOMPAS.com/Fika Nurul Ulya | Yoga Editor Sukmana/Bambang P. Jatmiko/Ambaranie Nadia Kemala Movanita)