JAKARTA, KOMPAS.com – Administration fee or bank admin fee Recently, there was a lot of discussion after a viral video of a man ripping his savings book.
The tearing of the savings book was carried out because the person concerned objected to the reduced balance in the account due to Bank Administration fee.
Deputy Director of the Institute for Development of Economics and Finance (Indef) Eko Listiyanto said the bank admin fee was actually a fee that was usually imposed by banks.
However, he said, the trend of bank administration costs has increased over the last few years.
“This is related to the variety of services that are increasingly based on information technology, so that banks charge administrative costs,” he said to Kompas.com, Tuesday (28/6/2022).
Although bank admin fees have increased in recent years, Eko assesses whether or not these fees are heavy for customers is relative.
“For the upper middle class, it seems that bank administration costs do not reduce their interest in saving,” he said.
If the bank administration fee is indeed heavy, Eko advises the public to choose a savings product that does not charge an administration fee or is free.
A number of banks offer an administration fee-free savings product called TabunganKu, a savings product in collaboration with the government. to boost people’s interest in saving in the bank.
“This option is suitable for those who do not want to be subject to administrative costs,” said Eko.
Meanwhile, certified financial planner (CFP) Deni Ridwan said, currently there are still many people who are not aware that their savings balance in the bank can be eroded by administrative costs.
This was conveyed by Deni through his official Instagram account, @kangd3ni. Deni has also invited Kompas.com to quote his upload.
“This happens because the monthly fees charged by the bank are greater than the interest we receive,” said Deni in his Instagram account.
Furthermore, Deni, who is also director of government bonds at the Directorate General of Financing and Risk Management (DJPPR) of the Ministry of Finance, revealed that in order not to be eroded by administrative costs, customers need to have a large enough savings balance.
He gave an example, with an administrative fee of Rp. 14,000 per month, customers must have a minimum balance of Rp. 30 million.
The calculation is made with the assumption that the bank provides deposit interest of 0.7 percent per year and income tax on deposit interest of 20 percent.
“So if it’s below IDR 30 million, then our savings will decrease,” he said.
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