Consumer & Retail Banking
Consumer & Retail Banking

Tips to Effectively Save Your Money in a Bank


What do you think about saving in a bank? Is it difficult or easy to do? For those who are used to it’s like a piece of cake. But for those who are just planning to save their money, it can be very confusing. What kind of saving product to open? Do you need ATM card? No worries, Bank Muamalat will give you some tips for effective savings in a bank to make your savings plan easier to do.




  1. Determine your purpose in saving

Generally, there are 2 savings objectives; to facilitate your transactional needs or as a plan for your future investment. It will be easier for you to choose the type of savings If you have clear objectives.


If your objective is to facilitate transactional matter, for example sending money or arranging budget, you can choose savings product that has many transaction support facilities such as internet banking, mobile banking, free transfer services and ATM cards. However, if your objective is for future investment whether for medium or long term,  such as sacrifice, go on Hajj, education, or get married. Then you can choose a saving account that has a standing instruction/ autodebit feature. This feature allow your fund to be automatically transfered from the main account to your purposed savings account. In addition, it is better for you not to have an ATM card to avoid yourself to have a cash withdrawal from your saving account.


  1. Prefer a bank with a reliable reputation

Prefer a bank with a reliable reputation is very important because you’ll be more confident to know that you save your money in a safe place. Well, for those who are Muslims it is very recommended for you to have your preference in sharia bank.


  1. Determine initial funds and time period in savings.

After having a saving account, it is also important to save the initial funds and time period. Make sure you set aside your funds for savings at the beginning of the month, not as a leftover money that will only be saved at last. This initial fund is a sign that you have strong commitment in savings. Then, you need to specify the time period whether it is short or long. And most important, you need to keep in mind that being consistent and discipline are the key elements in successful saving.


  1. Set aside 10% of your salary

Ideally, you set aside a minimum of 10% of your salary for savings. The more you save the more you’ll get success in savings. But if you find it difficult to save those 10%, it indicates that you have too much wasteful expenses. Then, you need to check which expense that need to be evaluated. if you are used to save those 10% you can start to increase the number into 15 or 12%.


  1. Save another funds outside your salary

If you can earn more money from other source than your salary, it will be an extra bonus for you to save more funds. For example you earn money from selling things in online shops, becoming an MC, or another job.


  1. Choose Bank Muamalat savings products that suit your needs

Bank Muamalat as the first Islamic bank in Indonesia also provides various types of savings both for your transactional and investment needs. For transactional needs, you can use iB Hijrah Saving Account with Shar-E Debit Card and e-banking facilities to facilitate your transaction such as cash withdrawals or transfers.


As for future investment needs, you can apply the opening account of iB Hijrah Term Savings Plan. You can also adjust the time period from 3 months to 20 years. In addition, if you want to save money and get a prize as well as your choice, then you can apply to open iB Hijrah Prima Savings. The requirements for applying the opening account of Bank Muamalat savings account are very convenient by only providing your original identity card (KTP and NPWP) with the initial deposit starts from 50 thousand rupiahs. For more information about Bank Muamalat products and services, you can here.


Well, thus saving tips effectively at the bank this time. Hopefully the information above is useful for those of you who are just planning to save at a bank. So, let's start saving!

Baca Juga :