Having an emergency fund is an important thing that everyone needs to make it their financial goal. In times of urgency that require a large amount of money, an emergency fund can be a lifesaver. Likewise, when facing economic uncertainty, crises and so on, an emergency fund can be a rock to lean on. By having an emergency fund, we don't need to take money that has been allocated for other needs.
But, just building an emergency fund is not enough. Having the right place to keep your emergency fund is important. For this, sharia deposit is the right choice for Jagoans who want to manage their finances according to sharia principles.
Why Save Emergency Fund in Sharia Deposit?
1. Money is safe from being used for other needs
Are there any Jagoans who can get easily tempted when seeing money just sitting there and not being used for anything? As the name implies, an emergency fund should only be used when there is an emergency, such as getting laid off, having a disaster, and similar incidents.
Therefore, it is very likely that the emergency fund will only be used occasionally. As such, emergency funds are vulnerable to being used to meet other needs, such as shopping for daily needs and even chasing discounts or other non-priority expenses.
But, when you save emergency money in a sharia deposit, you protect it from improper use. Only when you really need an emergency fund do you dip into your sharia deposit.
2. Flexible saving period
If you save money in the Sharia Deposit in Jago Syariah, you can enjoy a flexible period, from 1 month to 24 months. You decide for yourself how long you want to save your money.
But, maybe 1 question arises in the minds of Jagoans. What if my deposit has not reached its maturity date yet while the money is already needed to deal with an emergency? With Jago Syariah, you are free to withdraw your Sharia Deposit at any time without being subject to penalties or paying fines. So, flexible not only in terms of saving period, but also withdrawal.
3. Profit sharing as additional emergency fund
When you create a Pocket for Sharia Deposit in Jago Syariah, you will get a competitive and clear profit sharing ratio. In accordance with Mudharabah Muthlaqah akad, namely the distribution of up to 16.21% ratio with a profit sharing equivalent to up to 5% per year.
The profit sharing ratio that you get can be your additional emergency fund. You will receive the profit sharing ratio on the maturity date of the deposit.
However, if you need to disburse emergency funds in your Sharia Deposit before the maturity date, you will still get a profit share whose amount is adjusted to the disbursement time.
You can see a simulation of calculating the Sharia Deposit profit sharing in Jago Syariah in the visual below.
One tip for all Jagoans from Jagomin, you can create several Pockets for Sharia Deposits. In other words, if you already have a Sharia Deposit for your emergency fund, it doesn't mean you can only have 1 Sharia Deposit. If there are other financial goals to achieve, just open as many Sharia Deposits as needed.
Let's start building an emergency fund in Sharia Deposit.
