BTN Offers Foreign Currency Savings of 0.25 Percent

By : Herry Barus And Aldo Bella Putra | Tuesday, June 05 2018 - 13:30 IWST

Direktur BTN Budi Satria di Jakarta (Foto Rizki Meirino)

INDUSTRY.co.id - Jakarta - PT Bank Tabungan Negara Persero Tbk launches savings account products of foreign exchange (foreign exchange) of US dollar and Singapore dollar with interest rate in the range of 0.25 percent.

Director of BTN Budi Satria in Jakarta, Tuesday (4/6/2018), said the issuance of foreign currency savings products because so far many customers are asking for deposits in the form of foreign exchange. The Company targets to collect 50 thousand foreign currency savings accounts up to 2023.

"Strata middle class customers in Indonesia continue to increase with the lifestyle that many use foreign currency for 'traveling', business, overseas schools, investment, and various other activities," he said.

BTN's forex savings are named after Felas Savings. Budi said BTN seeks to work on the abundance opportunities of foreign currency as well as complement the needs of customer deposits.

"With this product, we strive to meet the needs of the people in saving, transacting and investing in foreign currencies. In the first five years, we are targeting nearly 50,000 new customers of Felas Tabungan," he told media crews.

Felas savings are intended for Indonesian citizens (WNI) and foreign citizens (WNA). Budi is targeting customers of young professionals, entrepreneurs especially in the field of imported exports, investors, priority customers, to housewives.

Budi said the Felas Tabungan will be equipped with ATM Automated Teller facility (ATM) and electronic network for customer transactions. In addition to launching Felas Savings, BBTN-coded stock issuers are also adding one type of currency in the company's FX Deposit products namely Singapore Dollar.

As of April 2018, BTN recorded savings growth sped at 43.28 percent year-on-year (year-on-year / yoy). In the fourth month of this year, the position of savings of Bank BTN around Rp43, 04 trillion, or grow from Rp30.04 trillion in the same month last year.

BTN targets Third Party Funds (DPK) to rise by 23 percent (yoy) this year.