Episode 7: Bank 101: Tabungan, Deposito, dan Giro

Summary

This video discusses the differences between three types of bank accounts in Indonesia: Tabungan (savings account), Deposito (fixed deposit), and Giro (current account). Tabungan is flexible for everyday use, while Deposito is for long-term savings with a fixed term. Giro is used by businesses for larger transactions. The video also highlights the role of Bank Indonesia as the central bank, which does not offer public savings accounts, and introduces the Lembaga Penjamin Simpanan (LPS), which guarantees the safety of deposits. The content is informative for those new to banking and savings options.

Takeaways

• 😀 Bank Indonesia (BI) is the central bank of Indonesia, tasked with maintaining the stability of the rupiah and overseeing monetary policy, payment systems, and financial stability.
• 😀 People cannot open savings or deposit accounts at Bank Indonesia since it serves as a central bank, not a commercial one.
• 😀 A savings account allows flexible withdrawals anytime, typically used for daily expenses with transaction limits per day.
• 😀 Deposits, unlike savings accounts, are fixed-term accounts that cannot be accessed until the specified period ends, making them ideal for long-term savings goals like education or pilgrimage funds.
• 😀 A checking account (giro) allows large withdrawals and is typically used by businesses, where funds can be accessed using checks or other formal instructions.
• 😀 Choosing between a savings account, deposit, or checking account depends on the individual's needs—daily expenses (savings), long-term savings goals (deposit), or business transactions (giro).
• 😀 LPS (Lembaga Penjamin Simpanan) guarantees the safety of deposits in banks, ensuring that customers' funds are protected under specific conditions.
• 😀 If you need immediate access to your funds for everyday expenses, a savings account is the best option.
• 😀 If you are saving for a future goal and want your money to remain untouched, a deposit account is recommended.
• 😀 Businesses often use giro accounts because they offer the flexibility to make large transactions through checks or other formal methods.

Q & A

What is the primary purpose of Bank Indonesia?

Bank Indonesia's primary purpose is to achieve and maintain the stability of the rupiah, implement monetary policy, regulate and ensure the smooth functioning of the payment system, and maintain financial system stability.

Can people save or create deposits in Bank Indonesia?

No, people cannot save or create deposits in Bank Indonesia, as it is the central bank. It does not provide banking services to the public like commercial banks.

What is a savings account and how does it work?

A savings account is a flexible deposit account where funds can be withdrawn or transferred at any time, typically through ATMs, mobile banking, or debit cards. It is ideal for daily transactions, with a daily transaction limit.

How does a time deposit differ from a savings account?

A time deposit, or deposito, has a fixed term and cannot be withdrawn until the agreed-upon period ends, unlike a savings account, which offers immediate access to funds. Time deposits are suitable for long-term goals, such as saving for education or pilgrimage.

What is the purpose of a giro account?

A giro account is a type of deposit used by businesses, allowing them to withdraw large sums of money at any time using instruments like checks or bilyet giro (payment orders). It is commonly used for operational business transactions.

What should someone choose if they need immediate access to their money?

If you need immediate access to your money, a savings account is the best option, as it allows for flexible withdrawals at any time, unlike time deposits or giro accounts.

Why should someone choose a time deposit for long-term goals?

A time deposit is ideal for long-term financial goals because it ensures that the money remains untouched and grows without the risk of being spent on everyday expenses, making it perfect for saving for significant events like higher education or pilgrimage.

How does the LPS protect a depositor's funds?

The LPS (Lembaga Penjamin Simpanan) is an official institution in Indonesia that guarantees the safety of depositors' funds, provided they meet certain criteria. This protection applies to savings, deposits, and giro accounts.

Can a company use a savings account for its operational expenses?

A savings account is generally not used for business operations due to withdrawal limits and flexibility. Businesses typically use giro accounts for operational expenses because of their capacity to handle large transactions and easy access to funds.

What is the significance of Bank Indonesia in the country's financial system?

Bank Indonesia plays a critical role in maintaining the country's financial stability, managing monetary policy, and ensuring the smooth functioning of the payment system. It is the central authority in Indonesia's financial ecosystem.