5 Advantages of savings accounts

5 Advantages of savings accounts

Savings products have been around for so long just about everyone knows what they are and what benefits they give us. What we know for sure is that saving money is one way to manage and plan our future finances.

A savings account may be the most interesting banking product as well as the easiest to open. At the same time it can act as the foundation for your financial planning, helping you achieve your targets and prepare you for any eventuality. When it comes to choosing a savings product, safety and competitive interest rates become our primary points of reference.

Aside from this consideration, the following are the benefits you can capitalize on by saving in the bank.

1. Security

Security is a deciding factor in choosing a savings product. People have been saving their money at home or at non-banking institutions despite the security risk. Saving money in the bank is not only safe but also secure, with the presence of deposit insurance companies and a banking system that safeguards the customer’s confidentiality and funds.

2. Ease of Transactions

Opening a new savings account as well as depositing and withdrawing funds has become very simple nowadays; and banks continue to come up with new ways and facilities to indulge customers. Aside from automated teller machines (ATM) that available in so many locations, customers no longer need to come to branches to make a cash deposit by using a cash deposit machine (CDM). Also the mobile banking and internet banking that will help customers conduct their banking transactions anytime and anywhere.

3. Attractive interest rate

When customers save money at a conventional bank, they will receive monthly interest. The percentage of interest varies, and the amount of interest customers receive also depends on the amount of money they have in their savings account—the bigger their savings, the higher the interest they receive.

A special aspect of Sharia savings accounts, where the interest system does not apply, is that these accounts use a profit-sharing system instead.

4. Better financial planning

We have so many needs to meet, from primary to secondary, including education, house renovation or the purchase of a new car. By saving, we can better plan our finances to fulfill those needs, including the unforeseen ones that can confront us anytime.

5. Attractive prizes

This is one factor that sometimes becomes the deciding factor when choosing a savings product. Banks usually offer promotions to entice customers. These can be a direct gift a customer receives when making a transaction, or prizes given periodically using a drawing system. The prizes vary from higher interest, gadgets, holiday packages, or even a dream car.

Who isn’t thrilled by the prospect of winning a car from their savings account? Yet, this is no pipe dream, because CIMB Niaga gives its customers a very big opportunity to win a car by continuing to increase their savings balance. Featuring 8 BMW 320i, 32 Honda BR-V, as well as millions of Rupiah shopping vouchers, all without lucky draw!

Just visit your nearest CIMB Niaga office or contact us at 14041 to find out how you can participate in this amazing prize-winning program, which runs until June 30, 2016.

It’s time to save and earn big!

Source :The Jakarta Post

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