Types of Sharia Savings in Indonesia and Account Opening Requirements

Types of Sharia Savings in Indonesia and Account Opening Requirements

Tabungan Bank Syariah Indonesia (BSI) is a savings product from Bank Syariah Indonesia (BSI), ranging from Classic Savings, Easy Mudharabah, Easy Wadiah, Sharia Securities, Indonesian Hajj, Indonesian Haji Muda, Junior Savings, Student Savings, Payroll Savings, Education Savings , to Pension Savings.

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You may have seen the offices of Bank Mandiri Syariah, BNI Syariah, or BRI Syariah in the past. However, now everything has merged and changed its name to Bank Syariah Indonesia or BSI.

For savings products, Bank Syariah Indonesia itself is the same as the previous Islamic bank savings products. There are sharia-based savings, retirement savings, and hajj savings.

Types of savings Bank Syariah Indonesia (BSI)

Before discussing the savings products of Bank Syariah Indonesia, you also need to know the types of savings.

Usually sharia-based banks have two types of savings: wadiah savings account mudharabah contract savings.

Wadiah contract savings and mudharabah contracts from Bank BSI can be found in the Easy Savings product.

1. Wadiah BSI Savings

Wadiah Bank BSI Savings is a savings account that uses a deposit scheme. The meaning of safekeeping is that the customer acts as a depositor of funds and gives a mandate to the bank to utilize the funds.

In addition, in wadiah savings, there is no bonus agreement. However, the bank may provide incentives voluntarily without going through an agreement.

This means that wadiah savings are not intended to increase the value of savings, but only to save.

2. Mudharabah Savings

In contrast to wadiah, Bank BSI Mudharabah Savings is a savings account that has a cooperation scheme between the customer and the bank.

The customer is not only limited to depositing funds, but also allows the bank to manage it in order to achieve profit.

The profit is divided between the bank and the customer according to the contract. The profit or profit can be distributed within a certain period according to the agreement, it can be monthly or yearly.

However, if the bank suffers a loss while managing the money, the loss will be fully borne by the bank. From this understanding it is known that mudharabah has a motive for investing funds.

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3. BSI Giro

Giro Savings is a savings product for individuals or business entities in the form of rupiah or foreign currency. But current accounts at Bank BSI can only use rupiah.

Balance withdrawals can be made at any time, but must be during working hours, using cheques, bilyet giro, or debit cards.

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Funds in Bank BSI Giro will be managed by Bank BSI with the principle of wadiah contract with a bonus agreement of 3% of the total profit from the management of funds.

To open this savings account, the customer must make an initial deposit of IDR 500,000 and a minimum balance of IDR 500,000.

The advantages of Bank BSI Giro:

Easy transactions by check or bilyet giro.

Get a monthly bonus in accordance with the contract and Bank BSI policies.

Get financial reports every month.

4. Retirement Savings

As the name implies, Tabungan Pensiun is a savings product from Bank Syariah Indonesia which is intended for individual customers to prepare for their old age.

Customer funds will be submitted to the Pension Management Institution which has collaborated with Bank BSI. The advantages of this product:

Very easy account opening requirements.

Get BSI Mobile and internet banking facilities.

Get the BSI Debit Co Branding Taspen facility which can be used as an ATM and Debit card.

5. Mabrur Savings

It doesn't feel right if Islamic banks don't have Hajj and Umrah savings. The last Bank Syariah Indonesia savings product is the Mabrur Savings.

This savings is in the form of rupiah savings, which is devoted to preparing customers for Hajj and Umrah departures. So, for example, if you intend to perform worship in the Holy Land, you can open this savings account so that the money is not used.

Indonesian Sharia Bank Savings – Types and Methods of Opening an Account

The initial deposit to open a Mabrur Savings account is fairly light, only IDR 100,000 is enough. If you have gathered up to Rp. 25,100,000, it will be registered with the Siskohat of the Ministry of Religion.

Benefits of being a Mabrur Savings customer:

If the portion number has been registered, the customer can use an ATM card at the VISA and Mastercard providers.

Get e-banking services, ranging from SMS banking, mobile banking, and internet banking.

There is no administration fee.

Get convenience in getting the portion of the pilgrimage departure.

Payment of Hajj fees can be done online.

How to open a BSI savings account online

Opening a Bank Syariah Indonesia Savings account can be done online. What you need to do first is to download the BSI Mobile application on your Android or Iphone device. The following is the procedure for opening a BSI Bank account.

• Download the “BSI Mobile” application on the smartphone device.
• After that, open the application and select “Open Account”.
• Choose the account type Easy Wadiah or Easy Mudharabah. (for opening an account at BSI Mobile only for Easy Savings).
• Select the desired type of ATM card.
• Fill in contact information such as an active email and mobile number, then select “Next”.
• Wait a few moments until an SMS appears containing the OTP code.
• Enter the 6-digit OTP code according to the screen instructions.
• Next, you are asked to fill in your personal data and upload the required documents, such as an ID card and selfie photo with an ID card.
• After that, you will be asked to upload a photo of your signature on a white sheet of paper.
• Fill in the information about the job.
• Next, choose the location of the BSI Bank Branch Office for account opening.
• After completion, you will be contacted by Bank BSI officers for the verification process.
• If the verification is approved, you can visit the previously selected Bank BSI Branch Office to make an initial deposit and collect your savings book and ATM card.