Students Deposits (SimPel)
SimPel is a savings product for students that nationally issued by Indonesia banks, with easy and simple requirements also interesting features, in order to educate financial inclusion and encourage savings culture.
General Requirements
- SimPel products can only be marketed collectively which is preceded by Cooperation Agreement (PKS) between Schools and Banks, or Independently (with no PKS).
- SimPel Savings is designed for individual customers (WNI) aged under 17 years old and have not yet Valid ID Card (KTP)
- SimPel is designed for PAUD, Kindergarten, Elementary, Middle School, High School, Madrasah (MI, MTs, MA) students or equivalent.
- One customer can only have 1 (one) SimPel account at one bank.
- SimPel Account Opening Requirements :
- Fill out the SimPel account opening form.
- Attach Valid Identity card (KTP) for prospective customer parents.
- Child birth certificate or family certificate
- Provided with Silver ATM Card facilities
- Once the student customers have reached 17 years old or more, then conversion or change in the type of savings product can be carried out based on customer requests.
Features
- Initial deposit for opening account is Rp5.000 (five thousand rupiah).
- Minimum balance is Rp.5.000 (five thousand rupiah).
- Maximum balance is Rp.20.000.000 (twenty million rupiah)
- Free monthly savings administration fee
- Next minimum deposit limit is Rp.1.000 (one thousand rupiah).
- Passive account fee is Rp.1.000 (one thousand rupiah).
- Account closing fee is Rp.5.000 (five thousand rupiah).
- Silver ATM Card Administration fee is Rp.4.000 (four thousand rupiah) per month.
For the distribution of government program benefits, following features are given such as:
- No initial deposit
- No minimum balance
- Free monthly savings administration fee
- Maximum balance is Rp.20.000.000 (twenty million rupiah)
- Next minimum deposit limit is Rp.1.000 (one thousand rupiah).
- Passive account fee is Rp.1.000 (one thousand rupiah).
- Account closing fee is Rp.5.000 (five thousand rupiah).
- Silver ATM Card Administration fee is Rp.4.000 (four thousand rupiah) per month.
Interest Rate Provisions
| Tiering |
Interest Rates |
| Balance < RP. 1.000.000,-
|
0.00% |
| Rp. 1.000.000,- ≤ Balance ≤ Rp. 20.000.000,- |
0.25% |
