BCA - Time Loan

Time Loan

Seasonal financing solution or project based where you can do withdrawal and repayment anytime during credit facility period

Benefit

Important Information

Terms and Conditions for Individuals

Aged over 17 years or married
Indonesian citizen
Not having been declared bankrupt nor being in bankruptcy proceedings

Terms & Conditions for Business Entities

Incorporated/established in Indonesia under the Indonesian law
Compliance with the borrower’s Articles of Association and the prevailing laws and regulations
Not having been declared bankrupt nor being in bankruptcy proceedings

Documentary Requirements

A copy of the Resident Identity Card (KTP)
A copy of the Taxpayer Identification Number (NPWP) Card *)
A copy of the Family Card
A copy of the Spouse's Resident Identity Card (KTP)
A copy of the Marriage Certificate
A copy of the Certificate of Divorce/Death *)
A copy of the Resident Identity Card (KTP) of the members of the Board of Directors and Board Commissioners **)
A copy of the Resident Identity Card (KTP) of the Shareholders **)

*) Mandatory, if any, for individual borrowers; optional for business entities

**) Only for business entities

Documentary Requirements for Collateral

Required Documents for Collateral in the form of Real Property

A copy of the Land Certificate
A copy of the KTP and NPWP of the Collateral Owner (If the collateral is registered in the name of another person)
A copy of the Building Permit (IMB)
A copy of the latest Notice of PBB (Land and Building Tax) Due
A copy of the proof of payment of the latest PBB (Land and Building Tax)

Required Documents for Collateral in the form of Time Deposit

A copy of the time deposit placement certificate (bilyet deposito)

Financial Documents

A copy of the Audited Financial Statements *)
A copy of the Internal Financial Statements *)
A copy of account statements for accounts opened at Other Banks (at least for the last 4 months)

*) Madatory, if any

Jangka waktu kredit 1 tahun dan dapat diperpanjang
Penarikan dana dengan surat permohonan (SPPFK) yang sudah ditandatangani debitur dilengkapi dengan dokumen rencana ekspor
Pelunasan dapat dilakukan dengan pendebetan atas rekening dana debitur berdasarkan kuasa yang telah diberikan
Realisasi fasilitas dilakukan dengan pemindahbukuan ke rekening debitur

Key Features, Benefits, Risks

Key Features of the Time Loan

The Time Loan has a term of 1 year and allows multiple drawdowns.
Drawdowns are made using a Credit Facility Withdrawal Request Form (Surat Permohonan Penarikan Fasilitas Kredit or SPPFK).
The Time Loan credit limit is determined based on the prospective borrower’s working capital needs and BCA’s analysis.
Repayment can be made upon maturity of each drawdown or at the end of the Time Loan facility term by debiting the borrower’s account.
Funds are disbursed by transferring them to the borrower’s account.
Interest is calculated daily based on the outstanding balance.

Types of Time Loans based on the nature of drawdown are classified as follows:

Nature of Drawdown	Explanation
Time Loan Revolving	The TL facility can be drawn down repeatedly (revolving). Under a revolving credit facility, the bank commits to providing credit up to a specified limit, subject to the terms and conditions determined by the bank.
Time Loan Non Revolving	The TL facility is drawn down to finance a specific purpose and cannot be drawn down repeatedly once the amount drawn has been repaid.

Types of Time Loans based on their use are categorized as follows:

Use	Explanation
Regular Working Capital	The facility can be structured as either a Revolving TL or a Non-Revolving TL. Drawdowns can be made in installments throughout the term of the credit facility.
Seasonal Working Capital	The facility can be structured as either a Revolving TL or a Non-Revolving TL. Drawdowns can be made in installments to meet specific needs during certain periods throughout the term of the credit facility.
Incidental TL	The facility is structured as a Non-Revolving TL, and drawdowns can be made in installments.

Benefits

Offers flexible loan terms of up to six months.
The loan tenor can be adjusted to suit the project duration or seasonal financing needs.
The Time Loan facility can be used to finance working capital, with a tenor tailored to the project duration or seasonal financing needs, up to six months.

Risks

Late payment of interest or principal installments will result in late payment penalties and may affect the borrower’s credit information recorded in the Financial Information Services System (SLIK) maintained by the Financial Services Authority (OJK).
If the borrower fails to meet their payment obligations as agreed, BCA reserves the right to take action in accordance with the applicable credit terms and conditions.
Interest rates are subject to change based on Bank Indonesia (BI) policy rates, market conditions, and BCA policies.

Additional Information

Drawdowns under the Time Loan facility are made using the Credit Facility Drawdown/Extension/Repayment Application Form (SPPFK), also referred to as the acceptance form.
Interest on the Time Loan facility will be debited from the borrower’s account monthly, based on the drawdown or acceptance date.
If the interest payment date falls on a holiday, the debit will still be processed on that date.
Upon maturity of the facility, if the borrower does not extend the credit facility or the acceptance, the borrower must ensure that sufficient funds are available in the designated debit account to repay the outstanding loan principal and accrued interest.
If the acceptance or Time Loan facility is repaid before the end of the applicable drawdown period, the borrower must submit a Letter of Request for Repayment of Acceptance/Time Loan Facility. The outstanding loan principal and accrued interest will then be debited from the borrower’s account.
The borrower may request closure of the Time Loan facility by notifying a BCA branch and ensuring that sufficient funds are available to settle the outstanding loan principal and accrued interest.
Any increase or decrease in the interest rate will result in a corresponding increase or decrease in the interest payable on the loan.
If sufficient funds are not available in the designated account on the interest debit date, the interest payment will become overdue and a late payment penalty will apply.
BCA reserves the right to amend the benefits, fees, risks, and terms and conditions of this product and/or service. BCA will notify borrowers of such changes through any form and channel in accordance with applicable regulations, no later than 30 business days before the changes take effect.
Prospective borrowers and borrowers may receive offers for other products from third parties collaborating with BCA, provided that they have granted BCA permission to share their data with such third parties.
Prospective borrowers and borrowers may receive offers for banking products and/or services, as well as products and/or services from third parties collaborating with BCA, through personal communication channels, provided that they have granted BCA permission to send such offers through those channels.

Fees

Prospective borrowers and borrowers will be charged fees based on BCA’s calculations and analysis, including the following:

Interest calculated based on daily utilization or the outstanding loan balance.
A provision fee of up to 1% per year of the credit limit, or as determined by the credit decision.
Credit facility administration fees as determined by the credit decision. If the credit limit or other facility terms change, administration fees will be charged based on the revised terms.
Notary fees for notarization of the loan agreement.
Fees for notarization and registration of collateral.
Insurance fees for non-cash collateral.
Appraisal fees for non-cash collateral.
Penalties for overdue loans.
Fees that may arise from the processing of credit-related activities, including:

Return and release of collateral: IDR 500,000 per collateral document.
Storage of collateral documents for borrowers who have fully repaid their loans: IDR 500,000 per month per borrower.

Note:

The fee information provided above is general in nature and may change depending on the credit decision or other specific terms. Any additional fees arising from the processing of credit applications or other credit-related activities will be charged and communicated through appropriate channels in accordance with applicable laws and regulations.

Simulation: Example of Interest Calculation

The following example illustrates the interest calculation for a Time Loan facility. The commitment and loan period runs from March 1, 2023, to March 1, 2024. The annual interest rate is 11.25% p.a., with a loan tenor of 10 days. The transactions are as follows:

Invoice Amount (IDR)	Disbursement Date	Due Date
40,000,000.00	4-Mar-23	14-Mar-23
30,000,000.00	7-Mar-23	17-Mar-23
20,000,000.00	27-Mar-23	28-Mar-23

Assuming that the debit from the borrower’s account is successfully processed on each loan due date, the interest calculation is as follows

Period	O/S	Daily Interest (IDR)	Interest Amount (IDR)
1 Mar 2023 – 3 Mar 2023	0.00	0.00	0.00
4 Mar 2023 – 6 Mar 2023	40,000,000.00	12,500.00	37,500.00
7 Mar 2023 – 13 Mar 2023	70,000,000.00	21,875.00	153,125.00
14 Mar 2023 – 16 Mar 2023	30,000,000.00	9,375.00	28,125.00
17 Mar 2023 – 26 Mar 2023	0.00	0.00	0.00
27 Mar 2023 – 28 Mar 2023	20,000,000.00	6,250.00	12,500.00
Total interest payable as of March 29, 2023			231,250.00

Latest change to the Rupiah loan interest rate: March 1, 2023.

Notes:

This simulation is provided solely as an example of an estimated calculation and does not constitute a recommendation.
Interest rates are subject to change at any time depending on market conditions. Any changes will be communicated through BCA’s official information channels.

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Time Loan

Why Time Loan?

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Simulation: Example of Interest Calculation