Pegadaian Pledged Debt Securities. The choice of loan funds is increasingly diverse and easy. Most recently, PT Pegadaian (accepts debt securities as a pawn product. Director of Marketing and Product Development of Pegadaian, Harianto Widodo. He said that it is currently conducting trials.
Of shares and debt securities pawning overseen by the Financial Services Authority (OJK). Types of debt securities accept for pawning securities are Government Securities (SUN). Retail Government Bonds (ORI) and BUMN Bonds with a minimum rating of A +. The next condition is that Pegadaian.
Only accepts debt securities with a minimum maturity of 180 days. If the bond maturity is less than 180 days means that it cannot be pawn, said Harianto. The period of the mortgage is up to 90 days. However, it can be extend by paying the capital lease and the maturity is still eligible.
If until maturity the customer cannot pay it. The guarantee will be sold through a market mechanism which will then result from the sale. This will be use to pay off the loan. From pawning debt securities. Customers can get financing starting from Rp 1 million with a maximum financing for individuals up to IDR 5 billion.
While for institutions a maximum of IDR 20 billion. Meanwhile, the loan to value (LTV) obtain by the borrower from pawning debt securities is 65% without any risk cut factors or risk discounts. The pawnshop capital lease costs 0.625% fix for the first 15 days. Furthermore, a daily capital rental of 0.0416% of the day will be charge.
So that the interest reaches 1.2% per month or nearly 155 per year. Meanwhile, the cost at the time of the contract consist of an administration fee of 0.25% of the loan. Securities transfer fee to custody bank is IDR 45,000 per type of securities and disbursement fee (non-cash) is IDR 2,500.
Pegadaian will process the disbursement within 1 to three days after the documents are complete and the guarantee has been receive by the custody bank. Harianto emphasize that as long as the debt securities are pawn, customers as securities owners will still receive the right to coupons from the securities.
Pawning of debt securities is a practical and fun funding scheme for customers because coupon income is still pass on to customers, said Head of Research & Consulting Service Infovesta Utama, Edbert Suryajaya, Tuesday (20/10). The value of Edbert’s capital lease is quite competitive. However, Edbert suggested that customers still need to be careful.
In calculating all existing administrative costs. In addition, Edbert also remind that pawning is the same as debt. Customers who mortgage their bonds can get leverage or more funds for other financing purposes. It doesn’t matter if a customer pawns all of his bond portfolios, but the customer still gets a coupon.
However, in a good financial planner, debt is intend to finance productive activities. Debt for consumptive purposes is also not prohibit as long as it does not exceed one’s limit, said Edbert. If the funds are use for activities to open a business, it is also necessary to consider the business risks.
Financial Planner, as well as Founder of Finansia Consulting, Eko Endarto, also remind that debt is allow if it suits your needs. Even though customers can still get coupons from debt securities that are pawn, if the customer fails to redeem, the customer cannot sell their ownership of the asset. The initial capital that the customer spends to own the asset cannot be return 100%.