Artikel diperbarui pada 2 May 2023.
Banking products that are still rarely utilized are deposits, even though this product is so safe and minimal risk. How to cash out a BRI deposit is not as complicated as one might think.
The ease of deposits in withdrawing funds will certainly make people interested in utilizing these products. This deposit can also be referred to as a form of investment that can benefit many people.
The benefits channeled through deposits are a source of funds that can increase development. To be able to utilize this financial service, of course, you must know the information about deposits first.
Understanding and Types of Deposits
The purpose of this banking product is to collect funds from its users like savings but at the same time as an investment. Deposit users will later earn interest from the funds deposited in the relevant bank such as BRI.
Deposits are not the same as savings with flexible withdrawal times, deposits have a certain period of time that has been approved This is what then makes this service also known as term savings.
When users make withdrawals outside the agreed date or time, they will be penalized in accordance with the provisions. The longer the time the interest earned is even greater, there are two types of BRI deposits, namely:
1. Conventional Deposit
A deposit service that has deposit options in Rupiah and foreign currencies. The interest rate is higher than general savings and the term is 1, 3, or 12 months.
The initial deposit at BRI is 10 million, but for internet banking users the amount is only half as much at 5 million. Only with this fairly light nominal various BRI facilities can be obtained.
The facilities in question include automatic renewal or ARO, placement and disbursement can be in cash. In addition, you also want to be able to transfer funds with relative ease.
2. Sharia deposits
How to cash out BRI deposits in both conventional and sharia types is not too different. This type of deposit uses sharia law as its foundation where the contract is Mudharabah Muthlaqah.
The time period that can be chosen to make this deposit is 1, 3, 6, and also 12 months. The benefit is from the nisbah or profit sharing on the management of funds, this is in accordance with sharia.
The distribution of the nisbah is according to the agreement and is done based on the profit of the turnover of funds. So, there is no interest involved in this deposit as it is considered usury in the correct Islamic law.
Excellence of Deposit
In general, the benefits of conventional time deposits are greater than Islamic time deposits because they involve interest. Apart from being easy to withdraw, deposits also have advantages that are not available in other investment savings, namely:
- The risk of loss is relatively small because this instrument does not have a principal reduction policy.
- Can be used as collateral when applying for a loan so that this instrument has 3 benefits, namely as savings, investment, and also collateral.
- There is a guarantee of protection from LPS with a nominal value of up to 2 billion.
- It is a useful product that is very easy to process, even users do not need to learn how to invest like in other instruments.
Common Reasons to Cash Out a Deposit
Although the time for the deposit to be withdrawn is fixed, users can do so at any time. Sometimes, even though there is a policy of being penalized, these two reasons will encourage users to make the withdrawal immediately.
1. Need Funds Immediately
Anyone can experience the urgency of needing large funds including users of deposit services. This urgency can arise because when opening a deposit, the preparation and financial calculations are not correct.
Compared to other similar investments or sources of funds, deposits are easier to withdraw. This is what makes the product a mainstay when the urgent need for funds arises.
2. Tempted by High Interest Rates
Policy changes are certainly common in this kind of financial service for various reasons. Sometimes, the new policy provides greater interest benefits than the previous one.
This higher interest rate setting of course only applies to newly opened deposits. As a result, users of old deposits have decided to cash out in order to open new deposits.
This decision is usually taken by deposit holders who have not been running for a long time or other certain conditions. The amount of profit from the new deposit can certainly cover the loss from the penalty.
How to Cash Out a Deposit
To be able to withdraw deposit funds, there are documents that must be prepared in advance so that the process is smooth. The documents in question include a certificate of proof of ownership of the deposit or Bilyet and other documents, namely :
- BRI savings book.
- Identity card e.g. KTP.
- Taxpayer card (NPWP).
- Stamp with a value of 10,000.
There is also a special form for deposit disbursement that can be obtained from BRI. In conventional deposit types, the amount of interest or profit on each term will be different.
The amount of interest is not absolute because the nominal can change at any time according to the latest provisions. There are two methods to withdraw funds, online and offline, here’s an explanation:
1. Offline Deposit Disbursement
The simplest method to withdraw BRI deposits is offline. This method tends to be easy to do because all the processes will be assisted by the relevant officers so that users only need to do the following.
- Visit the BRI office where the deposit account is opened.
- Convey your purpose to the security guard so that you can be directed to the right officer.
- Tell the guard that the user wants to cash out the deposit.
- Submit the above-mentioned documents to the officer.
- After that, fill out the form that is intended for deposit disbursement.
- If the documents and forms are correct, the officer will start processing the disbursement.
2. Online Deposit Disbursement
How to withdraw BRI deposits for users who object to coming to the bank can be done online. This method allows a more practical disbursement process as long as you know the following disbursement flow.
- Access your browser and open BRI’s Ibanking address at ib.bri.co.id.
- Once the site is running tap the special button of the main menu.
- Next select the option that says services, then click on the deposit disbursement command.
- Next select the account according to the one used, then tap the order to disburse.
- Input the password and also the BRI mToken and then continue by clicking the send command and finished.
This type of investment in the form of savings is very tempting, because it offers large profits. The amount of profit in a month is around 2 percent.
The interest on a 36-month deposit is quite high and almost touches the 3 percent mark at 2.85%. After knowing the advantages of this service, of course there will be more tempted to open a deposit.
Such is the review of how to cash out a BRI deposit complete with information about the BRI product. Saving and investing at the same time with the ease of the disbursement process is the best combination.