Money Market Account
Money market transaction is transaction which is usually done on the financial markets where the owner of the fund placed some funds with the agreed interest rate and term that has been determined to a party whoc receives the funds.
Money market account is perfect for customers who have excess funds for short term but can be used any time to meet cash flow needs. Taking advantage of money market accounts, customers can place their funds and enjoy a yield (interest) without having to worry about penalty imposed on the principal deposits if you want to withdraw your funds.
The products offered on Money Market Accounts are:
- Deposit On Call (DOC) for IDR currency.
- Deposit On Call (DOC) for foreign currency (USD, EUR, AUD, GBP, JPY, and SGD).
- To obtain interest rates bettern than current account which have been specified.
- Able to utilize the funds not be used starting from 3 (three) days to 29 (twenty nine) calendar days.
- Can be cancelled at any time if in compliance with minimum settling time with no penalty imposed on the principal deposit, but the rate of DOC provided shall be consisdsered null and instead customer will be given the interest rate in accordance with the provision established by bank*.
- Keeps getting daily interest when due date DOC instruments that have been agreed and then set as a holiday by state authority during the contract instrument clearing by DOC regulations.
* for DOC in Rupiah dan foreign exchange within USD