Time Deposit

Features

Competitive interest rates.
In Indonesia Rupiah (IDR) and United States Dollars (USD).
Flexible terms
No account maintenance fees
No need to complete an account opening form if you maintain a demand deposit account with BOC.

Initial Minimum Deposit

Initial minimum deposit amount to open an IDR and USD time deposit account is IDR10,000,000 and USD1,000 respectively.

Term

You may select 1,3,6 and 12 months.

Foreign Currency Notes Deposit and Withdrawal

Commission will be charged on withdrawals in foreign currency notes.

Identification required to opening an Account

Please provide the following documents:
For individuals:
1. Identity Card (KTP) or Driving License (SIM) for Indonesian;
2. Passport and Temporary Residence Card (KIMS/ KITAS) or Passport and Permanent Residence Card (KITAP) for foreigner.

For corporate customer classified as small-scale enterprises
1. Deed of Establishment and Articles of Association;
2. Business license or other license such as SIUP, SITU;
3. Power-of-attorney issued by the Board of Directors;
4. Taxpayer’s Identification Number (NPWP);
5. Other bank’s reference.

For corporate customer not classified as small-scale enterprises:
1. Deed of Establishment and Articles of Association;
2. Operating license or other license such as SIUP, SITU;
3. Power-of-attorney from the Board of Directors;
4. Taxpayer’s Identification Number (NPWP);
5. Financial statement of the company or description of company’s line of business;
6. Management structure of the company;
7. Identity documents of management authorized to represent the company, e.g., ID card (KTP), passport, or driving license (SIM);
8. Other bank’s reference.

Government Taxes

Under Indonesia law, interest received from your accounts is subject to 20% withholding tax on interest payments.