It Turns Out That Deposit Savings Are Larger Than Savings Accounts

Based on type, the majority of public savings are placed in deposits, surpassing savings and current accounts. Although withdrawals can only be made within specific periods as stipulated in the agreement, deposit interest rates are higher than those of savings or current accounts. For a segment of the population, deposits represent an investment instrument.

Of the total public savings in banks, valued at Rp 4,678.28 trillion, approximately 44.7 percent is placed in deposits (time deposits). Despite being the largest in value, the number of accounts is only 3.8 million, or 2.03 percent of the total 187.24 million accounts, according to the Deposit Insurance Corporation.

Meanwhile, public savings in the form of savings accounts reach Rp 1,426.9 trillion, or 30.5 percent of the total savings, ranking second largest. Current accounts are in third position with savings totaling Rp 1,084 trillion, or approximately 23.17 percent of the total.