Tips for choosing deposits

Tips for choosing deposits

After understanding the types of deposits that exist in Indonesia next is how to choose the right type of deposit with you. You should first consider the 3 things below:

1. Bank's reputation. In depositing funds, of course, they must find the right bank, make sure the selected bank has a good reputation and meets the qualification standards of Bank Indonesia. In addition, selected banks must be able to provide competitive rates of deposit rates even Higher.

2. Compare deposits. All types of deposits compare which is more appropriate for you. Like the interest payment system, this can be an indicator to consider the variety of deposits chosen. Compare the level of deposits offered by each bank.

3. Beware of high interest. Do not first be tempted by high interest, you must be careful with banks that offer interest rates or the provisions of the Pinajaman Insurance Agency. Because, Bank Indonesia Regulations only allow banks to provide deposits at a maximum or below the LPS interest rate.

Benefits of deposits

Deposits have various benefits for many parties, both from the side of the bank, depositors, and the people who need capital. Referring to the definition of deposits above, the following are the benefits and benefits;

1. From the side of the bank

The benefits of deposits from the Bank side are support for the Bank's business in raising funds from the public. The funds are used to increase banking business capital, especially in the area of ​​credit services by offering deposit rates.

2. From the side of depositors

The deposit benefits obtained by depositors are profits from higher interest rates. In addition, depositors also get credit guarantees and financial management assistance from the Bank.

3. From the Community Side

The benefit of deposits for the community is the existence of capital assistance funds in the form of credit. The capital can be used optimally in production activities so that it can increase national income and people's welfare.