11 Feb 2021 | Edukatips

Be Smart in Choosing KPR Product by Calculating Total Value

Many of us want to have our own house, but feel confused when we see many banks offering KPR promos for customers who want to buy their house through instalments. With various KPR offers by different banks, we have to be smart in understanding and choosing which KPR product will give us maximum total value. 

Calculating for A Product’s Total Value

To calculate the total value of a product, we must list several benefits we get and the costs that we pay. Benefits and costs are not necessarily measured by money, but also emotionally.

Total benefit consists of 2 types namely functional benefit and emotional benefit. Functional benefits include interests that we pay, the amount of down payment, payment methods, etc. Meanwhile, emotional benefits include services, trust in the bank, and so on. A bank’s credibility, quick service, and technology being offered to us to understand the credit simulation/the development of our credit outstanding, are aspects that can increase emotional benefits.

Total cost consists of 2 (two) types namely functional cost and emotional cost. Functional costs include high floating interest that increases every month, high penalties and admin fees when the credit is repaid in advance. Meanwhile, emotional costs include bad service, non-transparent information, banks that are not bonafide, etc.

Based on our list, we can then calculate the Total Value to decide on the best KPR product. To calculate the Total Value, we can add up the Total Benefits minus the Total Costs incurred.

BCA KPR Program

BCA offers a KPR program with a ton of benefits and convenience. If you want to apply for KPR at BCA, you can choose an interest rate and features most suitable to your need with small installments and a relatively low, stable floating interest rate. Moreover, if you repay your credit in the middle of the credit tenor (accelerated repayment), you can be freed from penalties (except for the 3-year fixed interest rate, 5-year fixed interest rate, and Fix & Cap). With BCA KPR, the increase of Fix & Cap interest rate will be controlled after the fixed period, the interest rate will not go beyond Cap interest rate. You can also top up your loan with the same collateral as your first loan as long as the Loan to Value (LTV) conditions are met. BCA is also a trusted bank that partners with trusted developers and brokers.

What are you waiting for? Get your dream house with BCA KPR!

Find out more about KPR here.