When applying for a mortgage (KPR), you will inevitably deal with several important documents, one of which is the SP3K. SP3K is a letter received by the borrower as proof that their home loan application has met the requirements and has been approved by the bank.
If you are planning to apply or are currently applying for a mortgage, it’s important to understand more about SP3K—from its functions and contents to tips for ensuring a smooth application process. Read on for the full explanation in the article below.
What is SP3K KPR?
SP3K stands for Surat Penegasan Persetujuan Penyediaan Kredit (Letter of Confirmation for Credit Approval). As previously mentioned, this is a document issued when the bank has approved your mortgage application and confirmed that all requirements are fulfilled.
SP3K typically contains key information such as the type of credit, loan term, interest rate, and more. This document is usually issued within 14 days after submission, although the time frame may vary depending on the bank's policy.
However, it’s important to note that receiving an SP3K does not mean the mortgage process is complete. After this document is issued, you must still go through several follow-up steps—from reviewing the terms and conditions to signing the final credit agreement (akad kredit).
Functions of SP3K in Home Financing
SP3K plays several crucial roles in the mortgage approval process. Its main functions include:
● Proof of mortgage approval: SP3K serves as evidence that your mortgage application has been accepted.
● Outlines the credit agreement: The document includes essential information such as loan amount, loan term, interest rate, monthly installments, and terms and conditions.
● Serves as loan assurance: SP3K can be used as proof for further processes, such as certificate processing or loan disbursement.
What’s Inside the SP3K?
SP3K generally includes detailed information about the mortgage application. Some of the key details found in an SP3K are:
● Borrower's identity
● Loan amount
● Type of credit
● Interest rate
● Monthly installment amount
● Loan collateral
● Rights and obligations of both parties
● Terms and conditions of the loan
In addition, the bank will also inform the borrower of the first installment amount and other associated costs, such as administration fees, the Deed of Granting Mortgage Rights (APHT), or property insurance premiums.
SP3K Application Process
To obtain an SP3K, you must go through several application steps. Here’s an overview of the process:
1. Submit a Loan Application
First, submit a mortgage application to your chosen bank or financial institution. Prepare the necessary documents to ensure a smooth application process, including:
● ID card (KTP) and other personal identification
● Payslips as proof of repayment ability
● Taxpayer ID Number (NPWP)
● Bank statements for the past few months
● Property documents such as building permits (IMB), land certificates, or other ownership proofs
2. Bank Analysis Process
Once your application is submitted, the bank will conduct a credit analysis to evaluate its feasibility. Some of the aspects assessed include:
● Financial capability, including income, expenses, and overall financial stability
● Credit history, reviewed through SLIK (Indonesia’s credit information system) to ensure you have no outstanding debts or bad credit records
● Property value, to confirm its suitability with the proposed loan amount
This stage typically takes 7 to 14 working days, depending on the bank’s policy and the completeness of your documents.
3. Issuance of SP3K by the Bank
SP3K is issued as a formal approval of your mortgage application if you meet the bank’s criteria.
This document is usually valid for 3 months from the date of issuance. If it expires, the loan process must be restarted. Therefore, make sure to complete the mortgage process promptly after receiving the SP3K.
Tips to Ensure a Smooth SP3K Application
Worried about your SP3K application getting rejected? Don’t worry—here are some useful tips to help the process go smoothly:
1. Prepare Complete Documents
Ensuring all documents are correct and complete is the first key to a successful SP3K application. Make sure your ID, tax documents, payslips, bank statements, and property paperwork are up to date and easy to verify.
Incomplete or incorrect documents may delay the process or result in rejection.
2. Improve Your Credit Score
Credit history is a major factor in the bank’s credit assessment.
If you have any past due payments or a poor record, it’s best to resolve them before applying.
A higher credit score increases your chances of approval because it reflects financial reliability and responsibility.
3. Choose a Bank with Competitive Interest Rates
Every bank offers different mortgage interest rates, so be sure to compare options beforehand.
Selecting a lower interest rate can reduce your monthly installments and overall loan cost. Don’t forget to consider additional fees such as administrative charges, insurance premiums, or penalties.
Choosing the right bank and understanding the full cost structure will increase your chances of getting an SP3K quickly and smoothly.
That was a complete overview of what SP3K is and how to ensure a successful application. In summary, SP3K is a formal approval letter from the bank stating that your mortgage application has been approved and is ready for disbursement.
This document is a crucial step in the home-buying process, so understanding its purpose and content can help you prepare more effectively.
SP3K is a credit document commonly used in banking institutions. At BFI Finance, which also offers mortgage financing services, we use the term SPK (Surat Persetujuan Kredit) or Credit Approval Letter instead of SP3K.
However, both documents serve the same function: they indicate that your loan application has been approved following credit analysis and are issued before the final credit agreement is signed.
If you're planning to buy a home and need a trusted financing solution, BFI Finance’s Mortgage Financing is here to help. Enjoy a simple application process, competitive interest rates, and professional service to make your dream home a reality. Currently, BFI's mortgage financing is available in DKI Jakarta, South Tangerang, Tangerang City, Bintaro, Bogor, and Bekasi.
Not only that—you can also apply for a loan for various needs. By using collateral such as a motorcycle BPKB, car BPKB, or property certificate, you can access extra funds for productive needs such as business capital, asset development, or investments like purchasing a house.
BFI Finance is officially licensed and supervised by the Financial Services Authority (OJK), so you can trust the security and legitimacy of our services.
Apply now and take the first step toward your financial goals—because #SelaluAdaJalan with BFI Finance.
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