Suku bunga deposito bank di Indonesia – 29 Oktober 2008

(This post has been updated on 18 November 2008, 5 more banks has been added, and a summary on which product gives Best return for different asset size is provided. Click this link to find the updated version, and another feature on Suku Bunga Deposito has been added, click this link to see the feature)

You have some extra cash to invest right now, and you like to consider your options. Stocks, it might be good time to buy now, since it’s in heavy discount, but you don’t like the risk. Bonds, looking at the potentially even-higher inflation rate for next year, the returns are too small.

How about good old time deposits? It’s guaranteed by the Indonesian government up to IDR 2 Billion (around USD 200.000), it gives a fixed rate of return. The only downside is, the return could be small.

So…what should we do? We need to shop around and see which bank provide the best rate of return for their time deposit.

and boy did i shop, i visit around 12 banks in the Puri Indah area of West Jakarta and ask for their time deposit interest rate. The trip provides some surprises.

Ok, before we go further, i need to put some qualifiers and disclaimer. Any brands or registered trademark mentioned in this article are the property of their respective owner. The rate mentioned in this article are true to best of my knowledge as was informed by the person claiming to be the Customer Service Representative of respective bank at my visit, I am not responsible if the rates are proven wrong due to misquote on the party of the Customer Service, or the person providing the quote are not in charge on enforcing them, or any other miscommunication, Invest at your own risk. I am not paid by the banks listed in this article, and I especially are not paid by the winner, i do the research for my own personal need and simply share the result in this blog. I didn’t visit all banks in Indonesia, for convenience, I only visit those who happen to have a branch in Pasar Puri Indah, West Jakarta. I also skewed my research toward medium and small banks, since they usually give better return compared to more established banks. The survey was done on 29 October 2008 in the branches of banks in Pasar Puri Indah, thus, the interest rates being applied might vary at a different time and perhaps even different location.

I also determined the ranking based on the interest rate being offer at the minimal amount of money invested at the shortest amount of lock-in time. All small banks can provide generous rate for those who have $ 1 million, but we want to find those who can provide good return even if you carry only $ 1000. Asides from bank specific terms, opening a time deposit at almost all bank will involve a IDR 6,000 stamp cost.

Now, the results.

1 – The Winner – DBS

DBS provides a stunning 12.5% interest pa on their time deposit. They have a minimum IDR 10 million to open a deposit.

You must open a saving account with DBS. This saving account has zero admin. fee if your Total Relationship Balance (the amount of balance including those in your time deposit) exceeds IDR 10 million.

At the end of the period, your Time Deposit and its interest will need to be liquidated to your savings account, this might include another IDR 6,000 stamp cost. Then it can be transferred to the bank of your choice at prevailing transfer cost (IDR 5,000 for transfer amount below IDR 100 million, and IDR 25,000 to 30,000 for transfer amount above IDR 100 million)

The DBS relationship manager also informs me of another type of Time Deposit that they offer right now, it gives an even better rate of 12.75%, but the downside is that the minimum amount is IDR 50 million.

on a side note: the DBS Relationship Manager is all-business. She is knowledgeable and ready to present her products. I would say that from all the Customer Service i talked with during the interview, she’s the one that takes my business most seriously. Again, I am not paid by DBS.

2 – Bank Victoria

Bank Victoria gives an 11% interest rate for its time deposit. This rate can be accessed through a minimal deposit of IDR 10 million.

You don’t need to open a savings account with Bank Victoria, when the time deposit is due, it can be liquidated and promptly transferred to another bank at prevailing transfer fee. Liquidating the deposit to cash carry it will incur a IDR 6,000 stamp cost.

Number 3 – Bank Panin

Panin offers 9% interest rate for 1 month deposit below IDR 100 million.

No savings account with Panin is required. Upon due date, the deposit can be transferred or carried in cash, incurring associated transfer or stamp cost.


4. Bank Century

at 10% interest rate, Century seem to provide a better offer than Panin, however Century’s minimal deposit stands at IDR 25 million, which why it has lower ranking here.

No need to open a savings account with Bank Century. Upon due date, the deposit can be transferred or carried in cash, incurring associated transfer or stamp cost.

5. Bank Artha Graha

8% interest rate for deposit amount below IDR million. Artha Graha’s offer is a bit more competitive than the next-in-rank Bank Ekonomi, since Artha Graha offers a 10% rate for deposit above IDR 100 million.

Might need to open a savings account. The customer service is one of the vaguest i’ve met. She can tell you the rate, but quite difficult to get associated cost with opening and closing the deposit.

She did mention one selling point, her bank opens on Saturday. Which could prove to be useful when you work in a place where going to the bank on weekdays is impossible. Which is especially true if you work for a top tier management consulting firm and happen to have the luck to work directly under a g*rm*n partner/principal and you need to constantly share his enthusiasm (more like madness to me) for work, but i digress.

6. Bank Ekonomi

The magic 8, 8% rate at a minimum deposit of IDR 8 million. However, this bank gives a steep tier to its rate, the same interest rate that applies to IDR 8 million, also applies to IDR 500 million, making it less competitive to most of its competitor that provides a 11% rate for deposit above IDR 100 million.

No need to open a savings account. Upon due date, the deposit can be transferred or carried in cash, incurring associated transfer or stamp cost.

7. BankNiaga

Ok, at this ranking and below, the offer is not so great for funds below IDR 100 million. But i’ve surveyed 12 banks and i’m determined not to let survey went to waste.

Niaga offers a 9.25% rate for a 3 month deposit at a minimum of IDR 50 million. They are also having a promo program of a IDR 125,000 shopping voucher (at a popular big box store) for every IDR 50 million you deposit

Now, here’s a downside, you have to open a savings account with Bank Niaga, called the Niaga X-tra. the admin cost is IDR 7,000/month and it cannot be waive at any level of savings.

Upon due date, the deposit will be liquidated to your savings account. Depending on the policy of the bank, such automatic liquidation could subject you to an automatic stamp cost of IDR 6,000, since you’re in a way, are cashing the deposit. I didn’t venture to ask what is Niaga’s policy, since i was already horrified by their admin cost.

8. Bank Bumiputra

Again, a bit tough for funds below IDR 100 million. They provide a 9% interest for below IDR 100 million, but, the funds are locked for 6 month at least.

No need to open a savings account. Upon due date, the deposit can be transferred or carried in cash, incurring associated transfer or stamp cost.

9. Bank NISP

7.5% for funds below IDR 100 million, the above IDR 100 million is attractive at 11% but the same rate at that level is also provided by other banks.

No need to open a savings account. Upon due date, the deposit can be transferred or carried in cash, incurring associated transfer or stamp cost.

10. Bank Mayapada

7.5% for funds between IDR 8 million to IDR 100 million. a not so competitive 10% for funds above IDR 100 million.

No need to open a savings account. Upon due date, the deposit can be transferred or carried in cash, incurring associated transfer or stamp cost.

11. Bank Permata

6% interest rate for funds below IDR 100 million, 8.5% interest rate for funds above IDR 100 million.

You need to open a savings account with Permata, i haven’t had the chance to ask the admin fee. The branch has no seat for the customer service desk so i don’t want to linger any longer there after hearing the 6% interest rate.

12. Bank Lippo

The silliest of them all, really. I mean, one, the customer service rep actually look embarrassed when she announced the rates and associated cost, her expression is like “this is bad news, but since you asked….”.

The interest rate is 5.5% for funds below IDR 100 million and 6% for IDR 100 million (the same rate Permata give for funds below IDR 100 million).

Then, you need to open a saving account, admin fee is IDR 10,000. Which is totally bad, since they’re positioning their admin fee at the same level of BCA and Mandiri, while BCA and Mandiri has ubiquitos proprietary ATM, while Lippo has…well, not as much as BCA and Mandiri.

The killer combo of low interest rate and high admin fee put lippo at this position of the ranking

Ok, that closes it for the 29 October edition, be sure to visit the blog from time to time, since i’m thinking of adding more bank into this survey, and update existing ones.

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24 Responses

  1. bunga bank harom mas….
    gak musim lagi deposito bank konvensional…
    eniwe makasih lah infonya paling enggak jadi tau gitu…

  2. wow….good article..tapi saya tidak tertarik mas….soalnya….lebih baik saya investasi di bidang lain nya…solanya dari agama saya itu tidak di perbolehkan….Tapi klo untuk informasi ini article sangat bagus sekali….
    lam kenal yaaa

  3. Hi Sandy, lo di Puri Indah? Deket dong sama rumah gw…!

    FYI, rate deposito di Mandiri s/d 30 Oktober’08:

    >= 10 jt – = 100 jt – = 500 jt : 12 %

    Untuk nasabah yang dalam satu bulan ada komitmen untuk masuk dana segar 5 M, bisa diberikan rate 13 %, dengan persetujuan direktur Mandiri.

    Tidak perlu buka rekening tabungan untuk pembukaan deposito. Biaya materai saat pembukaan dan pencairan tentu ada. Kalau mau hemat materai, mungkin bisa coba Deposit on Call (daily basis, tanpa bilyet). Tapi memang, suku bunganya berbeda, tergantung dari kondisi likuiditas bank saat agreement DOC tersebut.

    Btw, sekedar komentar, bank-bank yang small-medium pastinya berani memberikan rate yang lebih tinggi, Karena kondisi likuiditas mereka yang sedang kering, perlu kucuran dana segar.

    Perlu diingat, penjaminan LPS hanya menjamin rate sampai dengan 10 %. Jadi kalau ada simpanan di bank dengan bunga > 10 %, otomatis itu tidak dijamin oleh LPS. Misalnya, si A punya deposito 500 jt dengan rate 13 %. Maka karena rate > 10 % walau dana < 2 M, simpanan si A tersebut tidak masuk penjaminan LPS. Bank lah satu-satunya pihak yang menjamin. Pertanyaannya adalah, apa kamu benar-benar y-a-k-i-n bank-bank small medium yang haus likuiditas itu mampu menjamin dana kamu??

    Kalau yakin, ya silakan saja, shop the rate till you drop… Asal dananya gak dibawa kabur ke luar negeri aja kalo bank nya bangkrut :P

  4. Yah, jadi berantakan deh Sand, ini yang bener:

    kurang dr 100 jt 6,25 %
    100 – kurang dr 500 jt 9,25 % (1 bl), 9,5 %(3 & 6bl), 10 % (12bl)
    lebih dr 500 jt 12 %

    (semoga ga berantakan lagi)

    lebih jelasnya shopping2 ke Mandiri dong Sand.. :)

  5. now, this is what i’m looking for. Up until today, there’s no open market for time deposit rates. I hope other banks will also see this post, and contribute their own numbers.

  6. […] with DBS Posted on November 5, 2008 by sendy82 On October 29 2008 i wrote about looking for the bank with the best Time Deposit rate. I found DBS to provide the best rate on the criteria mentioned in the […]

  7. wow, thanks a lot for the info. I’d been hearing that Panin bank giving a high rate, but seems DBS is the winner (they must be really aggresive bank)

    Sympathy for the lippo CS :D

  8. thanks for the information. nice article..

    tolong diupdate lagi kalo udah ada info terbaru ya..
    kebetulan kemarin (06.11.08) saya ke mandiri. rate 1-12 bulan variatif dari 6.00% sampe 6.75%.

  9. Cuma mau kasih info, kebetulan saya marketing di bank bukopin,ada info rate spesial di Bank Bukopin:
    >50 jt = 9,5%,
    >100jt=12,25%,
    >500jt= 12,5%
    >1M=12,75%
    Utk info lbh lanjut bisa hub saya di nomor 08569972711,
    Trims

  10. sebagai informasi kartu ATM Bank Bukopin, bisa utk dipakai tarik tunai di ATM Bank Manapun tanpa kena biaya sedikitpun,alias gratis!Bukopin Memang Wokeeeee….

  11. Thanks for the info, it’s a great and interesting article. I also found out DBS have the best interest rates.

    I have a question about the Bank Guarantee (IDR 2Billion) you mentioned, cause I also heard the indonesian government only covers a deposito where its interest is up to 10% and not more. It’s not clear to me what the exact rules are. Can you perhaps enlighten me?

    Terima kasih,

    Alwin

  12. […] Suku Bunga Deposito Bank di Indonesia – 18 November 2008 Posted on November 18, 2008 by sendy82 This post is an update on the same topic published at 30 October. […]

  13. I think you missed Bank Eksekutif, they offering 10% for 1 month, 10,5% for 3 month and 11% for 6 and 12 month, the minimum deposit is IDR 5 million and you can open Tabungan Eksekutif without ATM with no admin cost/month.

  14. Hi all
    don’t ever forget about the tax
    deposit of rate that offered by many bank are still not deducted by tax,i think the government will deduct around 15% from deposit rates..CMIIW

    15 % is a big deduction i think

  15. Have checked on Bank Bukopin, published rate are provided on the December update of this post.

    Haven’t had the opportunity to check Bank Eksekutif, want to visit their bank in Tomang, but when i went there in early December, the building has been owned by someone else.

    I welcome marketers to provide comments and publish their rates, but for the posting, my policy is only to post number from banks that i visited my self and rates that are published to me at my visit

  16. […] Posted on December 25, 2008 by sendy82 This post is an update on the same topic published at 30 October and 18 November. On various dates between November 18 and December 18, i visited 3 banks to inquire […]

  17. tekhs tas infonya

  18. kalo saya hanya punya 10juta, bunga deposito paling besar nabung di BCA, Mandiri, Danamon, or NISP
    tolong di konfirmasi y..
    thx

  19. klo mau deposito ,,bagusnya k bank mana y ?? yg aman ,terjamin,dipercaya n bunga yg tinggi..
    mksh…

  20. Tergantung yah,

    jumlah dana serta selera resiko biasanya jadi penentu.

    Umumnya pemegang dana merasa lebih aman dengan bank-bank yang ternama

    Tetapi kadang-kadang bank-bank kecil bersedia memberikan rate yang lebih baik (terutama setelah negosiasi)

    dengan jumlah dana yang sama, umumnya anda dapat memperoleh bunga yang lebih baik di bank kecil dibanding di bank besar.

  21. I found your website perfect for my needs. It contains fantastic and supportive posts. I have read most of them and got a lot from them. To me, you are doing great work.

  22. Permisi, sy mo update untuk promo deposito flexsible dari CITIBANK.
    untuk penempatan 50 juta, bunga deposito 6.5% + Voucher dan Cashback senilai 425rb.
    promo ini hingga maret.
    bila berminat, bs hubungi saya di 08179141987.
    thx.

  23. bank mana ya … yang suku bunga tabungannya kira-kita bisa mencapai 12% -15%lah pertahun. mksh

  24. saya mau investasi di reksadana investasi mandiri. mksud saya? apa saya harus mengisi formulir di bank2mandiri terdekat atau ada reksada secara online. mksh

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