Mandiri Deposits offer competitive interest rates, a variety of currency options, and ease of opening and extending, making them an ideal solution for safe and profitable short-term investments.
Mandiri Deposit is a term deposit product offered by Bank Mandiri. Known for its higher interest rates compared to regular savings, this deposit is designed to give customers more benefits over a certain period of time.
With a variety of currency options and flexible time periods, Mandiri Deposits are a popular investment choice for many people who want to make optimal use of their funds.
This article will discuss in more depth the types of Mandiri deposits, how to open them, and the advantages and benefits that customers can obtain.
What is Mandiri Deposit?
Mandiri Deposit is a term deposit product that offers higher interest rates compared to regular savings. With a deposit, customers agree to keep their funds in Bank Mandiri for a certain period of time in return for attractive interest.
This product consists of two main types: Mandiri Rupiah Deposit and Mandiri Foreign Currency Deposit, both of which provide benefits and flexibility for customers in making short-term investments.
Types of Mandiri Deposits
1. Mandiri Rupiah Deposit
Mandiri Rupiah Deposit is a type of deposit that uses the rupiah currency as the basis for placing funds. Some of the main features of this deposit include:
- Term Options: Customers can choose a term that suits their investment needs, from 1 month to 24 months.
- Competitive Interest: Mandiri deposit interest rates are calculated based on the actual number of days (365 days a year), which provides higher returns compared to regular savings.
- ARO (Automatic Roll Over) Facility: Mandiri Rupiah Deposit offers an automatic extension facility, so that if your deposit matures, the funds will be automatically extended in accordance with applicable provisions, without the hassle of having to take care of it.
- Interest Usage Options: Interest earned from deposits can be reinvested into the principal deposit, or customers can choose to withdraw it and transfer it to another Mandiri account, such as Mandiri Savings or Mandiri Giro.
- Joint Account: If you want to open a deposit with a partner or business partner, Mandiri Rupiah Deposit also provides the option to open a joint account, which is a joint account in the names of two people.
2. Mandiri Foreign Currency Deposit
In addition to deposits in rupiah, Bank Mandiri also offers Mandiri Valas Deposits that allow customers to invest using foreign currencies (foreign exchange). Here are some of the advantages of Mandiri Valas Deposits:
- Currency Options: Customers can choose from a variety of foreign currencies for deposits, such as USD, HKD, GBP, AUD, EUR, JPY, CNY, and SGD, providing more flexibility for those who wish to invest in currencies other than the rupiah.
- Initial Deposit: For deposits in USD, the minimum deposit starts from USD 100 in the form of banknotes submitted to the bank.
- Withdrawal and Commission: Withdrawal of USD deposits can be done with a maximum amount of USD 20,000 per month without commission fees. However, if the withdrawal is smaller, a commission fee of 0.5 % of the amount withdrawn will be charged.
- Interest and Extension: Similar to Mandiri Rupiah Deposit, Mandiri Valas Deposit also provides ARO facilities and the option to reinvest the interest into the principal deposit or transfer it to another account.
How to Open a Mandiri Deposit
Currently, opening a Mandiri deposit account can be done easily without having to come to a branch office. Through the Livin ‘by Mandiri application, the deposit opening process can be done anytime and anywhere. Here are the steps to open a Mandiri deposit online:
- Download and Register on Livin’ by Mandiri: Make sure you have downloaded the Livin ‘ by Mandiri application on your device and registered an account.
- Open Application: After registration, open the application and select the “Deposit” menu.
- Select Deposit Type: Select the desired deposit type, such as Rupiah Deposit or Foreign Currency Deposit.
- Determine Deposit Amount and Term: Enter the amount of funds you wish to deposit and select the appropriate deposit term.
- Select Renewal Method: Determine whether you want to use the ARO (automatic renewal) facility or not.
- Double Check and Complete: Double check all the information you have entered and press “Open Deposit” to complete the process.
- Enter PIN: Enter the PIN that was created to complete the transaction.
- Done: Once successful, you will receive a notification that the deposit opening has been successful.
If you choose to open a deposit at a branch, the initial deposit required is a minimum of IDR 10 million, while to open a deposit via Mandiri Online or e-banking, you can start with a minimum deposit of IDR 1 million.
Benefits of Opening a Mandiri Deposit
Mandiri Deposito offers many advantages that make it a safe and profitable investment option. Some of the advantages of Mandiri Deposito include:
1. Competitive Interest
With interest rates calculated based on the actual number of days, Mandiri Deposits provide higher returns than regular savings products.
2. Flexibility of Term and Extension
You can choose a suitable term, ranging from 1 month to 24 months, and take advantage of the ARO facility for automatic renewal.
3. Interest Investment
You can choose to reinvest the interest earned into the principal deposit, or withdraw it to another account such as Mandiri Savings or Mandiri Giro.
4. Wide Range of Currency Options
In addition to rupiah deposits, Bank Mandiri also offers deposits in various foreign currencies such as USD, EUR, and others, making it easier for you to invest outside of rupiah.
5. Trusted and Easy to Access
With long experience and the trust of millions of customers, Bank Mandiri provides deposit services that are easily accessible through various channels such as Livin’ by Mandiri, Mandiri Online, or Mandiri Call.
6. Deposit Collateral Credit
Mandiri Deposits can also be used as collateral for deposit collateral credit, giving you quick access to loan funds without sacrificing the benefits of deposit interest.
7. Easy Withdrawal and Cancellation
The deposit withdrawal process can be done easily through the application, and you can also cancel the automatic renewal at any time.
Closing and Cancellation of Mandiri Deposits
After the deposit period ends, customers can choose to withdraw funds or extend them with ARO. If you do not want to use ARO, you can cancel the deposit extension through the Livin’ by Mandiri application, Mandiri Online, or Mandiri Call service at any time.
Mandiri Deposit is an attractive and safe investment option for those who want to increase their assets in the short term.
With competitive interest, flexibility in terms and extensions, and ease in the opening and withdrawal process, this deposit is suitable for various types of customers.
Whether you are an experienced investor or a beginner, Mandiri Deposit offers many benefits that can be tailored to your financial needs.
With a variety of currency options and complete facilities, BNI Deposits are the main choice for profitable short-term investments.
