A 24-month loan tenor has become an increasingly popular choice for borrowers in recent years. The reason is simple: a longer repayment period directly affects the amount of monthly installments. With a 24-month tenor, borrowers can enjoy lighter monthly payments, making it a practical solution to ease financial pressure.
Beyond lower installments, a 24-month loan also offers structured financial planning and potentially higher loan limits. Want to explore the full benefits and product recommendations? Read on until the end.
Benefits of a 24-Month Loan Tenor
A 24-month loan tenor allows borrowers to repay their loan over a two-year period. This option comes with several advantages worth considering:
1. More Affordable Monthly Installments
The longer the loan tenor, the smaller the monthly installment. A 24-month tenor offers lighter payments while keeping total interest relatively manageable—helping borrowers avoid excessive financial strain.
2. Better Financial Planning
Lower monthly payments give borrowers greater flexibility in managing their finances. This makes it easier to meet other financial obligations while maintaining stable cash flow.
3. Higher Loan Limits
Loans with a 24-month tenor typically provide higher borrowing limits compared to shorter-term loans, offering more room to cover larger financial needs.
4. Opportunity to Build a Good Credit History
A two-year repayment period gives borrowers sufficient time to demonstrate consistent payment behavior. With manageable installments, the risk of default decreases—helping maintain a strong credit profile in the eyes of lenders.
Recommended 24-Month Loan Option
Many financing institutions offer 24-month loan products. However, it’s essential to choose a company licensed and supervised by Indonesia’s Financial Services Authority (OJK) to ensure optimal consumer protection and avoid unfavorable agreements.
One trusted option is BFI Finance. Through BPKB-backed financing, you can apply for a 24-month loan using your motorcycle or car ownership document (BPKB) as collateral. This scheme allows you to access larger loan limits with flexible tenor options, including 24 months.
24-Month Loan Installment Simulation at BFI Finance
Here’s a simple simulation to give you a clearer picture of the monthly installments:
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Loan Amount: Rp5,000,000
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Loan Tenor: 24 months
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Interest Calculation:
Rp5,000,000 × 2.25% × 24 months = Rp2,700,000 -
Total Repayment:
Rp5,000,000 + Rp2,700,000 = Rp7,700,000 -
Monthly Installment:
Rp7,700,000 ÷ 24 = Rp320,833 per month
Disclaimer: This simulation is for illustration purposes only. Actual installment amounts may vary depending on credit history evaluation, collateral value, and company policy.
Can You Still Use Your Vehicle During the Installment Period?
Yes. In a BPKB-backed loan scheme, only the ownership document (BPKB) is used as collateral—not the physical vehicle. This means you can continue using your motorcycle or car for daily mobility and productivity throughout the 24-month tenor.
Your vehicle remains fully operational, allowing you to work and generate income smoothly while keeping up with your monthly payments.
Requirements for a 24-Month Loan at BFI Finance
To apply, you’ll need to prepare the following documents:
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Applicant’s ID (KTP) and spouse’s ID (if married)
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Family Card (KK)
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Utility bill or Land and Building Tax (PBB) receipt
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Employment status (employee, civil servant, or entrepreneur)
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Proof of income
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Vehicle Registration Certificate (STNK)
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Original BPKB and vehicle invoice
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Privately owned vehicle with original BPKB
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BPKB under your name, spouse’s name, or third party (with proof of purchase)
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Motorcycle age: max. 13 years (Japanese brands)
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Car age: max. 20 years (sedan, jeep, minibus) or max. 13 years (pickup & truck)
How to Apply for a 24-Month Loan
Applying at BFI Finance is simple and can be done online:
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Visit the official BFI Finance website.
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Click “View Our Products” on the homepage.
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Select BPKB-backed financing (car or motorcycle).
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Click “Apply Now.”
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Fill out the application form.
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Submit the required documents.
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Wait for verification and approval.
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Once approved, funds will be disbursed to your bank account.
A 24-month loan tenor can be a smart financial solution if you’re looking for manageable installments and reduced default risk. With a longer repayment period, your monthly financial burden becomes lighter and easier to plan.
If you’re considering a 24-month installment scheme, BPKB-backed financing from BFI Finance could be the right choice. For larger loan amounts and longer tenors, you may also consider property certificate-backed financing (house, shop-house, or office unit).
As a financing company licensed and supervised by OJK, BFI Finance offers fast, transparent, and convenient financial solutions—because there’s always a way forward.
