Deposit in our Bank does not use Certificate of Deposit, only use Deposit Confirmation. This product is third party deposit in the Bank, which its withdrawal can only be implemented in certain time period (appropriate with the due date) refer to the agreement between Depositor and the Bank. A. Benefit and Risk
Benefits
1. Efficient, because depositor is only need to come once to the Bank to submit
Time Deposit application. At maturity, Bank will automatically credit the customer
account appropriate with depositor's application, unless there is changing of
instruction from depositor. 2. For depositor who's using Internet Banking, the request can be directly submitted
without coming to the Bank. 3. Depositor will receive Time Deposit Confirmation. 4. Covered by LPS appropriate with prevailing regulation.
Risk 1. Market Risk
Risk occurred due to market interest and foreign exchange fluctuation.
2. Operational Risk The dysfunction of internal process, human error, system failure or external problem.
Procedures and Using Guidance
Due date of Time Deposit is refer to business day, if unscheduled holiday occurred, due date will fall on the next business day.
Type of Customers
Minimum Deposit Amount Term : 1,3,6,12 month(s)
Corporate
USD 1,000
JPY 100,000
IDR 10,000,000
Eqv USD 1,000 (other Ccy)
Individual
Eqv IDR 10,000,000
C. Charges
Services
Charges
Cancellation
Cancellation before maturity date
No interest for that period
Cash Withdrawal
IDR
Free
Foreign Currency:
* USD
½ % (min Eqv USD 5)
* JPY
½ % (min Eqv USD 5)
Exchange
Our rate
Draw Down
Booked on another internal account:
* Same currency
Free
* Exchange
Our rate
Booked on other Bank account
LLG or RTGS charge or T/T rate
Stamp duty
IDR 6,000
D. Interest and Tax Calculation
Interest Calculation Method Gross Interest = Nominal x Interest rate x Days / 360 Days
Net Interest = Gross Interest - Tax
Interest calculated by effective interest rate calculation method paid on due date of Time Deposit. Deposit interest will not paid by the Bank if deposit is withdrawn before maturity date.
Tax
Interest is subject to withholding tax based on the prevailing regulation.
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