Press Release - January 31, 2024

Start Saving with just 1 Rupiah on GoPay App

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Jakarta, January 31, 2024 - In their latest collaboration, GoPay and Bank Jago are simplifying the user's ability to save through GoPay Tabungan by Jago on the GoPay app. 

GoPay Tabungan by Jago, which is available on the GoPay app, offers three different account options catering to users' needs, spanning everyday payments to short term savings. 

Bank Indonesia data reveals a staggering 97 million adults in Indonesia are classified as unbanked as they do not have a bank account. 

According to the World Bank 2021 Global Findex Database challenges to opening a bank account include distant bank locations, financial limitations, and high administrative costs. 

With GoPay Tabungan by Jago, users can start saving with as little as Rp1 and grow their balance without incurring monthly administrative fees. 

GoPay Tabungan is supervised by the Financial Services Authority (OJK) and Bank Indonesia, with user balances guaranteed by the Deposit Insurance Corporation (LPS). 

Andreas Santopen, Head of Banking and Financial Management at GoPay said, "GoPay is now beyond payments and continues to expand services to help users better manage their finances. With GoPay Tabungan by Jago, users can now access savings products seamlessly within the GoPay app.” 

"This aligns with the GoPay mission to provide access to financial service to the broader population, especially those without access to banking services," he added. 

According to 2022 LPS data, the savings-to-GDP ratio in Indonesia is 38.38%, indicating many Indonesians do not have savings. This ratio lags behind neighboring countries the Philippines (77.74%), Malaysia (122.59%), Thailand (135.69%), and Singapore (141.14%). 

Irene Santoso, Head of Customer Value Management at Bank Jago said "As a technology-based bank embedded in the digital ecosystem, Bank Jago continues to deepen its strategic collaboration with GoPay through GoPay Tabungan by Jago. We are committed to providing convenience for everyone to access banking products and adding useful features for users to cultivate a savings habit." 

GoPay Tabungan by Jago offers three account options that do not require a minimum balance and do not incur monthly administrative fees: 

1. Rekening Utama (Main Account) is an everyday payments accounts where users enjoy:

  • a 2.5% annual interest rate. 
  • Free transfers anywhere through the GoPay app. 
  • Convenient payment and top-up options. 

2. Rekening Utama Syariah (Sharia Main Account) is an everyday payments accounts based on the Akad Wadiah Sharia principles and supervised by the Sharia Supervisory Board (DPS), where users enjoy:

  • Free transfers anywhere through the GoPay app. 
  • Convenient payment and top-up options. 

3. Rekening Simpanan (Savings Account) a flexible savings account, enabling users to set aside funds for future needs, and featuring: 

  • a 3.75% annual interest rate. 
  • Savings can start with Rp1. 
  • Withdraw anytime without incurring any fees. 

To start saving with GoPay Tabungan by Jago, users can download the GoPay app from the Google Play Store or App Store and activate GoPay Tabungan by Jago. 

The activation process only takes two minutes, and provides users with a seamless and efficient way to kickstart their savings journey. 

For more information on activating GoPay Tabungan by Jago, please visit this link.

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