Indonesia’s Bank Syariah Mandiri lowers minimum down payment for home financing
JAKARTA – Indonesia’s largest Shariah-compliant bank by assets, Bank Syariah Mandiri, has cut the minimum down payment buyers must pay for first home purchases to 10-15 percent from 15-20 percent following the central bank’s relaxation on the financing-to-value (FTV) ratio requirement for home financing in August, Dharmawan Hadad, its Corporate Secretary told Salaam Gateway.
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