Sunday, 05 Jul 2020

Millennials Do not Like Property Investment, These Companies Provide Solutions


IllustrationIllustration - Head of Consumer Loan Group at PT Bank Mandiri (Persero) Tbk, Ignatius Susatyo Wijoyo, assessed that millennial generation is still reluctant to invest in property or housing. Most or 51 percent of their income is spent on monthly lifestyles.

 In addition to this, millennial needs and education also become a consideration for PT Bank Mandiri's assessment.

"Around 10 percent (of millennials' income) is for investment, and the rest is for holidays or to have fun," he said at the launch of KAHS 2019 at Kresna Tower, 18 Parc Place SCBD, Jakarta, Monday (21 October 2019).

Therefore, Bank Mandiri launched a special millennial mortgage product that is tailored to their characteristics. In KAHS 2019, Bank Mandiri offered mortgage interest starting at a fixed 6.5 percent for the first three years.

Millennial Mortgage also adjusts the installments to the income of its customers. "Along with the salary increase, installments are also adjusted, the tenor can be longer," Ignatius said.

Millennial generation needs to be encouraged to start thinking about investing in the future. A better millennial generation can ultimately help economic growth. In addition to millennial generation, KAHS is also aiming at developing middle market segments.

In addition to banking, Kresna Insurance also cooperates with several property development companies and motor vehicle dealers. KAHS 2019 cooperates with Mandiri Tunas Finance (MTF), Mandiri Utama Finance (MUF), and PT Bank Syariah Mandiri.



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