Want to increase your income and realize your dreams or financial goals? Everything can be achieved as long as you are consistent in saving. At Bank Jago, you can choose the way to save that suits you.
The Right Way to Save
In this article, Jagomin will discuss the right way to save, which can be applied by everyone.
1. Manifest savings goals through Moneyfesting
People do things for a reason. For example, someone wants to take care of their parents because they want to make them happy. Someone does a side job because they want to earn extra income.
Likewise with saving. Why do you want to save? What goal do you want to achieve? For example, you want to live with peace of mind and not panic when you experience an urgent situation. Therefore, you want to have emergency fund savings. Or, you want to be able to travel around the world. All of this is manifesting financial goals (Moneyfesting). So what's your Moneyfesting?
Having goals will motivate you to save more actively and ensure you are on the right track to achieve your target (reference: Shepherds Friendly).
2. Be disciplined in allocating a budget for savings
If you have decided what Moneyfesting you want to achieve in the future, you can start saving. The way to do this is by budgeting regularly every month.
So, budgeting is done not only for needs and wants. It is best to create a separate account for savings so that the money in savings is not mixed with money for needs or wants.
3. Want something more practical? Simply automate saving
If you prefer to do budgeting automatically rather than manually to make it more practical, you can choose to automate saving. At Bank Jago, for example, there is an automatic saving feature for every savings you have.
How to Save the Way You Want at Bank Jago
For every short-term or long-term Moneyfesting, you can choose the best place to save at Bank Jago. In the Jago application, what kinds of savings can you have?
1. Jago Saving Pocket
For savings that you can add money to and withdraw at any time, you can choose to create a Saving Pocket. In other words, the Saving Pocket is ordinary savings. If you are a beginner saver, you can save in the Saving Pocket first before trying the Locked Pocket or Jago Deposit.
2. Jago Locked Pocket
The Locked Pocket is different from the Saving Pocket because it has the function of locking savings. So if you lock your Saving Pocket, the Pocket will immediately change to a Locked Pocket. However, even though the Locked Pocket is locked, you can add money at any time.
What is the purpose of locking the Pocket? The main thing is that the Locked Pocket helps protect your Moneyfesting savings from being used for other needs. So, it is very suitable for you if you are easily tempted to use the money in savings.
You can also train yourself to resist the temptation to take money from your savings by having a Locked Pocket. This is because there is a small cost of unlocking the Pocket prematurely. Savings in a Locked Pocket is therefore completely safe for Moneyfesting purposes only.
3. Jago Term Deposit
What about the Jago Term Deposit? You can save emergency funds here. Because, apart from protecting savings from inappropriate use (the same as the Locked Pocket), the Jago Deposit is free of penalty fees if withdrawn at any time in an emergency or urgent situation.
A complete explanation of the difference between the Jago Deposit and Locked Pocket can be read here.
If you have several Moneyfesting, you can open a number of savings. All savings you have in Jago can be personalized. Change the name of your Locked Pocket to Summer Vacation, name your Deposit to Emergency Fund. Just personalize them the way you want.
Benefits of Saving Money at Bank Jago
Apart from being able to choose a place to save that is tailored to your short-term and long-term needs, there are various other benefits of saving money at Bank Jago.
1. Save without monthly administration fees at Bank Jago
Whether you want to have 1 savings or many savings, there are no admin fees. So, apart from your savings continuing to grow, you also save more because you don't have to pay monthly admin fees.
2. Enjoy various free quotas via the Jago application
Furthermore, there are many free benefits that you can get. By reaching the highest Account Level, the more free quotas you will get. What free quotas are available? There are transfers to other banks, e-Wallet top-ups, and debit card creation. Everything can be done via the Jago application. Free cash withdrawal quota is also available. Use your Jago Visa Debit Card to withdraw money at any nearby ATM.
3. Competitive savings interest at Bank Jago
By saving consistently and disciplinedly, you will get rewards in the form of interest. The more you save, the greater the interest. At Jago, the Saving Pocket, Locked Pocket and Deposit offer different interest rates. You can see detailed interest rates on this page.
4. Opening a Bank Jago savings account doesn't require going to a branch, do it directly from the Jago application
The Saving Pockets, Locked Pockets and Deposits that you create have their own account numbers. And, to open them, you can do it quickly and easily from anywhere and at any time. As long as you have internet access to log in to the Jago application, you can immediately create the Pocket you want.
Just the way you want, you can start saving in the right way with Jago so you can boost your income and realize all your Moneyfesting, whatever it is.
Quick Q&A About Saving at Bank Jago
1. Does saving at Bank Jago earn interest?
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Competitive interest: Yes, the funds you place in a Saving Pocket at Bank Jago earn interest at a competitive rate. This interest is calculated daily and paid monthly, helping your money grow automatically.
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Locked Pocket and Term Deposit Interest: Bank Jago also offers savings options in the Locked Pocket and Jago Term Deposit which provide higher interest rates for funds you wish to save for a specific period (for example, for a down payment on a house or retirement savings).
2. Is it safe to save at Bank Jago?
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OJK regulation and supervision: Security is a top priority. Bank Jago is a bank that is registered and supervised by the Financial Services Authority (OJK) and Bank Indonesia, ensuring all operations and transactions comply with strict banking regulations.
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LPS guarantee: Customer funds at Bank Jago are also guaranteed by the Indonesia Deposit Insurance Corporation (LPS) in accordance with applicable provisions.
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Digital security: The Jago application is equipped with a layered security system (biometric verification, strong passwords, PINs, and OTP) to protect the account and every transaction from unauthorized access.
3. What is the procedure for saving at Bank Jago?
Saving at Bank Jago is designed to be fully digital and flexible through the Jago application. Here are the steps you need to follow to start managing your financial future:
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Opening a Jago Account (Digital Registration): The first step is to have an active account. There’s no need to visit a branch; simply download the Jago application and prepare the supporting documents for account registration. The verification process is done via a short video call, and your account will be active in minutes.
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Topping Up Your Main Pocket: Once your account is active, you will have a Main Pocket that serves as your primary account. Deposit funds into your Main Pocket via transfer from other banks, cash deposits, or transfers from fellow Jago users. The balance in your Main Pocket is what you will later distribute into specific savings.
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Creating a Saving Pocket Based on Your Goals: This is what makes Bank Jago unique. You can separate your money according to its purpose so it doesn't get mixed up with daily living expenses because Every Goal Can Have Its Own Pocket. Go to the Pockets menu, select Create Pocket, and choose the type (for example, a Saving Pocket for flexible savings or a Locked Pocket for commitment). Give it a name and personalize the icon to keep you motivated (e.g., "Emergency Fund" or "Next Year's Vacation").
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Setting Targets and Allocating Funds: Once the Pocket is created, determine the target amount you want to achieve and the deadline. You can manually move your balance from the Main Pocket to the Saving Pocket at any time.
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Activating the Automatic Saving Feature: To stay consistent, take advantage of the Auto-Budgeting feature. You can set the Jago application to automatically move a certain amount of money to your Saving Pocket on a specific date (for example, every payday). With this automated procedure, your savings will grow on their own without the risk of forgetting.
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Monitoring Your Interest Growth: Bank Jago offers competitive interest rates on every Saving Pocket you own. Procedurally, interest is calculated daily and credited to your Pocket every month. You can monitor the history of the interest received directly within the transaction details of each Pocket.
