5 Bank Products that are Frequently Used and Their Benefits

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You must be familiar with banks, especially since there are many banks in Indonesia. Banking statistics from the Financial Services Authority (OJK) as of July 2019 recorded that there were 115 commercial banks, while the number of Rural Credit Banks (BPR) was recorded at 1,597 banks.

The main and well-known functions of the bank include collecting and distributing funds. The bank itself has a variety of products that have many benefits and advantages that can be used to meet your financial needs.

From the various products offered by banks, you must understand that each product must have benefits and risks.

For this reason, it is important to know the benefits and risks that often arise from banking products before you use them.

Let’s look at and understand the benefits and risks of the five best-selling bank products circulating in the community.


This financial product is the bank’s operational activity that is best known by the public. Savings not only consist of one product, but now has developed into many types, ranging from savings plans, savings pilgrimage, time savings, and so forth.

Savings products are popular in the community because they can be used as a place to store money more safely. Various offices also provide savings to their employees for other purposes. Because through savings, you can also transfer funds briefly and safely. This bank product also has several characteristics such as:

Saving book

Every customer who chooses to save at a bank will get a savings account book. The function of the book is to find out information about all transactions made from savings products that you have.


Automatic Teller Machine Card (ATM). The characteristic of this savings product is that it causes many parties to choose to save some of their funds in the bank. ATM cards can be used to perform various financial transactions that are needed by customers.

Initial deposit

Initial deposit. Each bank has different rules regarding initial deposits. The intended deposit is the provision of funds at the beginning of the customer who wants to issue his savings. There are banks that apply an initial deposit of only Rp.50,000, but there are also those who make rules for an initial deposit of savings of at least Rp500,000.


This characteristic is the attraction of savings for the wider community. With interest, customers expect there to be benefits from their savings activities, even though the value is certainly smaller than investing.

Monthly fee

In collecting public funds, the bank also aims to manage it for institutional profit and national development. For this reason, the bank imposes a monthly fee or what is commonly known as an administrative fee for each savings customer. The amount varies, depending on which bank you choose and what product you want to take.

Benefits of Saving in a Bank:
These characteristics make bank savings the most popular product in the community. Of course the popularity is not only the result of intense promotion, but because of the various benefits that can be obtained by saving at a bank like this:


You do not need to worry about your money scattered or easily stolen by certain parties. Savings at the bank provide security benefits that guarantee your money will not be lost.


Saving in a bank is more secure than leaving it to someone or putting your money somewhere in your home. The security of depositing funds in a bank is because the government itself guarantees it through the Indonesia Deposit Insurance Corporation (LPS). The value of deposits guaranteed by LPS is a maximum of Rp2 billion per customer per bank.