Definition of Savings According to Experts (Full Discussion)
Definition of Savings According to Experts (Full Discussion) – What comes to mind when you hear the word savings? mmh money? savings? Yes, more or less like that. Currently almost everyone has it, both from the upper, middle and lower classes, meaning that almost all groups have it. What are these savings? Let's look at the explanation.
Definition of Savings According to Experts (Full Discussion)
Let's discuss the meaning first carefully.
Definition of Savings
According to Banking Law No.10 of 1998 savings is deposits which can only be withdrawn according to certain agreed conditions, but cannot be withdrawn by check, giro or other means equivalent to that.
Savings is a medium for storing money that is liked by all levels of society. Bank is a place to store our savings, people use the bank's facilities because the security of their savings is more guaranteed there.
Savings deposits are a very effective form of saving money because this type of deposit can be opened with very simple and easy terms and conditions.
Requirements for Making a Savings Account
If we don't have savings at the bank, we can make one at the bank with certain conditions. Each bank has different terms and conditions, but in general all banks have the same requirements.
Usually people who want to open a new savings account must complete several requirements. The requirements are submitting several identity documents such as KTP, SIM, Passport, Family Card and other personal identity data. In addition, each bank also has initial deposit requirements for opening an account with a different nominal amount and a minimum balance that must be set aside in a savings account.
Nowadays, many banks are carrying out several innovations with various types where these types of savings have their own advantages.
Types of Savings Often Used by Banks
Some examples of savings that are widely used by banks are:
1. National Development Savings (Tabanas) is a form of savings that is not bound by a period of time with terms of deposit and withdrawal, this type of savings was first regulated in 1971. The tabanas consist of:
- General National Development Savings namely tabanas that apply to individuals which are carried out individually by the saver concerned.
- Tabanas Youth, Students and Scouts (Tappelpram) is a special tabanas carried out collectively through youth organizations, schools and scout units which is the first time regulated in the charters cooperation between Bank Indonesia and the PDK department as well as the Ministry of Home Affairs and between Bank Indonesia and Kwarnas Pramuka, on 22 February 1974.
- Employee Savings is a special tabanas for employees of all rank groups in the environment Departments/Institutions/Government Agencies and Government and Private Companies that carry out the deposit done collectively.
2. task, is a form of savings associated with life insurance, which was first regulated in 1971.
3. ONH Savings, is the deposit of pilgrimage fees on behalf of prospective pilgrims for each pilgrimage season concerned. The amount of the upfront deposit is based on the discount principle for each Hajj season, first stipulated by a Presidential Decree in 1969.
4. Other savings, are savings other than Tabanas and Taska, for example savings from bank employees who are not Tabanas and Taska or community savings at other banks that are not organizers of Tabanas or task.
There are several things that must be considered when you want to save at the bank
Savings book (Butab) is a small book which is one of the proofs that the customer is a saving customer at a certain bank. Each savings customer will be given a savings book, which is a book that describes transfers of deposits, withdrawals and also balances for each transaction that occurs.
Withdrawal slip, which is a small piece of paper or form provided by the bank for customers who wish to withdraw or deposit savings. The withdrawal slip contains several columns including column no. account, the name of the account owner and also the nominal amount of the withdrawal or deposit. After all filled in complete with a signature. Then hand it over to the bank officer along with the savings book which will be processed by the teller.
ATM is a machine that plays an important role in the process of cash withdrawals, payments or transfers between banks. Almost all banks provide ATM facilities to the public. Therefore these machines are available in public places or crowded places so that people can easily make various types of payments.
Thus a brief discussion about Definition of Savings According to Experts (Full Discussion), may be useful for all of us. Thank You.
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