Bank Jago Implements Sharia Deposito Products Starting IDR 1 Million

Bank Jago Syariah launched Deposito Syariah (Photo: Maria Trisnawati/VOI)

JAKARTA - PT Bank Jago Tbk (ARTO) through the sharia business unit (Jago Syariah) launched the Deposito Jago Syariah product using the mudharabah muthlaqah contract.

Head of Sharia Business Bank Jago Waasi B. Sumintardja said the launch of this product was based on the need for investment products with sharia principles which were also connected to an ecosystem consisting of various leading digital platforms in Indonesia.

"On this basis, Jago Syariah launched sharia deposits to answer the needs of people who want investment products with better, safer, and have the same quality as conventional banking," Waasi said in Media Briefing, Thursday, February 2.

Through sharia deposit products, he continued, customers have a choice of sharia products and services that can be adjusted and personalized to the needs of each customer.

"Customers can open deposits in just a matter of minutes through the application with a minimum placement of funds starting from Rp. 1 million," continued Waasi.

Later in an emergency, customers can withdraw these sharia deposits without being penalized.

"Everything is done in the application, without having to come to the bank," he added.

Furthermore, Waasi explained a number of advantages in sharia deposits, including customer distribution of commoetitive products of 16.21 percent with an additional rate of 5 percent. In addition, customers can also choose a deposit period of 1 month, 3 months, 6 months, 12 months and 24 months.

"Customers can also have 20 bags of sharia deposits at the same time, making it easier for customers to manage various medium and long-term financial goals," concluded Waasi.

Previously in February 2022, Bank Jago launched Jago Syariah which is a digital financial solution that focuses on daily life based on sharia principles (life-centric finance solution) and is embedded in the ecosystem.

Through Jago Syariah, customers can experience superior innovations and features, such as pockets with a traditional contract and integrated capabilities with other digital ecosystems, including Gojek and Bibit.