Indonesia-based Bank CTBC and Yayasan Buddha Tzu Chi (Tzu Chi) have entered into an agreement to introduce Tabungan Bamu, a new bank savings account mainly designed to fulfill two major requirements of customers – fund saving with optimum interest rate and monthly charity fund.
From a monthly average balance amount of the customer’s Tabungan Bambu account, the customer’s charity fund will be automatically credited to Tzu Chi’s account by CTBC with the amount of 0.5% annually, reports thejakartaglobe.com.
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Since this is a pre tax amount, which does not reduce any amount of the customer’s account balance, the larger amount of customer’s savings account balance will translate in a bigger amount for charity fund.
CTBC director/retail banking group Inayat Hisyam was quoted by thejakartaglobe.com as saying, "The launching objective of Tabungan Bambu as a joint product between CTBC and Yayasan Buddha Tzu Chi Indonesia is mainly to offer ease and simplicity to customers and the general public in saving and donating to charity at the same time."
This is the first banking savings account product in Indonesia which combines such features."
"Other features and benefits of this savings account are its optimum interest rate and ATM as well as Debit Card for the ease of cash withdrawal transactions through all of the ATMs in the Prima network and as a debit card for any transaction through POS of Debit Prima/BCA," Hisyam told the publication.
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