Everyone has their own way of preparing finances for their future. One of them by way of investment. One of the investment products that many people choose in the modern era is time deposit.
Yes, this investment product from banking is a product that is selling well and is popular because it has a low risk level, is easy and safer than investment products in the capital market such as stocks, mutual funds and bonds.
General Knowledge of Bank Deposits
Before you invest, it is hoped that you first understand the investment product that will be chosen. Don't just invest. The following is a general review of bank deposit products that you need to know.
- Initial deposit capital deposits: Deposits offered by banks are generally pegged from IDR 8 million - IDR 10 million. Of course, there is also an initial deposit value with a smaller number range.
- Deposits are different from savings. There is a maturity option when you open a deposit account. The options range from 1 month, 3 months, 6 months, 12 months, to 24 months. As long as it is not due you are not allowed to make cash withdrawals, or you have to pay a fine.
- Interest on bank deposits is influenced by the benchmark interest rate of Bank Indonesia (BI 7 day repo rate). If the BI 7-day repo rate falls, deposit rates will also fall. On the other hand, when the BI 7 day repo rate increases, deposit rates will also increase. Check the deposit interest rate this month
- Time deposits are a low-risk and safe investment instrument that is chosen for emergency funds and savings that are short-term investments (less than 2 years).
- When a customer opens a deposit, you will receive a bilyet on behalf of the customer. Bilyet deposits are proof of ownership given by banks to customers for deposits in the form of time deposits.
Beware of Stupid Deposits
With the rise of online fraud and banking fraud, it is hoped that all of you are always vigilant in choosing investment products, including choosing deposits. Fraudsters will surely spread various baits and seductions in order to get your money through fraudulent deposit products.
One example of a fraudulent deposit fraud case, as reported by Republika last October, was the fraudster claiming to be an officer/employee of a state-owned bank, then offering fake investment products such as investment deposit programs, education savings and hajj savings.
The crime occurred in Malang Regency. The modus operandi is, fraudsters give investment promises such as giving profits in the form of money or gifts of goods.
Therefore, in order to avoid similar scams, you should know what are the characteristics of bogus deposits
Features of Bodong Deposit Investment
1. Offer to Open Personal / Overseas Deposit
In today's sophisticated era, surely you often get offers of investment products, bank products to loans by phone, sms or email. Remember, I hope you are not easily tempted by the persuasion of people who offer investment products with the lure of high interest rates or profits, you could even say it would not make sense.
Currently, information for deposit products can be obtained with certainty through the official banking website or coming directly to the bank branch office.
Avoid agreeing to open a deposit from an offer via telephone claiming to be a bank employee. Don't be easily tempted by gift offers from banks when there is a promo to open a deposit, you can get an instant prize with a tempting value.
2. Be careful of the trap of high interest deposits that are not guaranteed by LPS
LPS or the Deposit Insurance Corporation is an independent institution that guarantees your deposits as a bank customer in Indonesia. This institution has been established and has been operating since 2005.
You don't need to be afraid to save and save money in the bank because the savings are guaranteed by LPS. Choose a bank that is guaranteed by LPS.
IDIC guarantees deposits which include demand deposits, time deposits, certificates of deposit, savings, and or other equivalent forms. The amount of deposits guaranteed by LPS is limited to a maximum of IDR 2 billion per customer per bank.
The amount of the deposit guarantee interest rate is also regulated. For example, for the period 30 July 2020 to 30 September 2020, IDIC set a deposit insurance interest rate of 5.25% for commercial banks (with the Rupiah exchange rate) or 1.5% (Foreign Exchange) and for rural banks at 7.75%.
Be careful with high interest deposit deposit offers. Because the deposit will not be guaranteed by the IDIC, because the IDIC already has a related policy for limiting deposit interest rates.
An additional note, note that LPS does not guarantee your money that is lost due to investments in stocks, bonds, government bonds, mutual funds or insurance even if the product is sold by a bank. So you have to understand that LPS-guaranteed funds are savings products, not investments.
3. No High Interest Deposits Without High Risks
High Risk High Return is one of the popular slogans in the investment world. This is true, and you have to understand this. Basically, there is nothing that can really provide high returns without carrying high risks as well.
If you get an offer from an unscrupulous person or bank employee with a much higher interest rate above the latest BI 7 day repo rate. So you have to be careful because you can fall into the trap of fraud.
Remember, if you are determined to open a deposit with an unreasonably high interest rate, hopefully you must also be willing to take an unreasonable risk, namely losing all your money.
4. Open & Withdraw Deposits Online at the Official Bank Site or Come to the Bank Office
Technology is increasingly advanced, you can also open and withdraw deposit accounts online through the bank's official internet banking / mobile banking. However, for those of you who are still not very familiar with bank technology to open savings products, you can also open and withdraw deposits offline by coming directly to the bank office.
The thing to remember is that you should never share your personal data such as account numbers, passwords, OTP codes, to the biological names of your parents, to anyone, including people who claim to be from the bank and offer to help you open a deposit account.
5. Be careful with fake/fake deposit certificates/bilyet
There are fraudulent deposit fraudsters who use the mode of forging fake certificates and deposit slips from well-known banks to convince their victims. Forged bilyets are usually listed similar to the original, namely with the appearance of using the name of the bank and will be printed and given to the customer when opening a deposit to the person as a receipt.
Safe Deposit Investment, Peace of Mind
The lure of high profits often makes people greedy and want to make a quick profit when investing. However, remember that investment also needs a process to grow in order to be profitable.
Beware of tempting investment offers with irrational profits. Then, always take good care of your personal data, don't forget to share selfies and photos of important documents (KTP, NPWP, credit cards, debit cards) on social media and so on.
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