As many as 300 students of elementary school were socialized Student Savings Deposits (Simpel) Bank DKI by the Financial Services Authority (OJK) as part of financial literacy, on Monday (12/2).

This is our commitment in encouraging a culture of saving early on

Bank DKI Company Secretary Herry Djufraini said that Simple Savings is savings for PAUD, kindergarten, elementary, junior high and senior high school students or equivalent issued nationally by banks in Indonesia.

This program was available in a conventional and sharia scheme with the name Simple iB Savings products.

"This is our commitment in encouraging a culture of saving early on and as a form of applying financial literacy and inclusion," he exclaimed.

He explained that customers would not be charged a monthly administration fee. The initial deposit was Rp 5,000 with a minimum next deposit of Rp 1,000 and a minimum balance for savings is Rp 5,000.

"Up to October, we have issued 1,749 Simple Savings accounts," he stated.