Jakarta –
There are various ways that banks do to attract customers. One of them provides a refund or cashback.
However, now customers should be careful. This is because cashback is calculated as interest, where this interest is one of the criteria for whether or not a deposit is guaranteed by the Deposit Insurance Corporation (LPS) when the bank is declared failed.
In the deposit guarantee program, IDIC guarantees up to Rp 2 billion per customer. There are three criteria that are eligible to pay or receive these funds, known as 3T, namely, recorded in the bank’s books, the deposit interest rate does not exceed the LPS guarantee interest and does not take actions that are detrimental to the bank.
“Cashback is actually part of the interest,” said LPS Institution Secretary Dimas Yuliharto in the LPS Workshop, Saturday (12/11/2021).
For example, a person places IDR 1 billion in a bank. Then, he earns 3% interest. On the other hand, the LPS guarantee interest is say 3.5%.
Apparently, the bank gave a cashback of Rp. 100 million. So, if the bank is declared to have failed, this Rp 100 million is calculated as interest.
Referring to the terms of the deposit guarantee program, the customer does not qualify for payment.
“That means how much is the interest? 10%. Is it worth paying? No, because it is above the guarantee interest. So, be careful with cash back,” he said.
However, this does not apply if the bank provides ‘sweetener’ in the form of goods. Because, what is taken into account in these provisions is only in the form of cash or money.
Then, what about the cash prize draw from the bank? Dimas gave an example, someone saved Rp 1 billion. Meanwhile, the customer then won a lottery in the form of Rp. 2 billion.
He said the customer is still eligible to pay because the gift is something that is uncertain.
“Is Rp. 1 billion worth paying? Is it worth paying because this is something that is not certain. Everyone can get it,” he said.
Watch Videos “Saving in Any Bank Stay Safe with LPS“
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