Foreign Currency Time Deposit (Deposito Valas) is a time deposit account which can only be withdrawn upon maturity. Bank Mestika offers foreign currency deposit accounts in USD and SGD with a variety of interest rates that suit the Depositor’s investment purposes.

The foreign currency deposit account of Bank Mestika has the following benefits:

1. The Depositor is free to choose the periods : 1 month, 3 months, 6 months, and 12 months.
2. The interest can be transferred to the Depositor’s saving account at Bank Mestika.
3. Automatic Roll Over (ARO)– automatic renewal of deposit account
4. Be able to be used as collateral.

Requirements

1. The Depositor shall have a minimum deposit of $1000,-.
2. The Depositor shall a savings account at Bank Mestika.
3. The Depositor shall complete an Account Opening Form and Personal Data Form.
4. The Depositor shall present the original valid identification documents, as follows:
• For Indonesian citizens (WNI), an E-KTP.
• For Foreign nationals (WNA), a KTP/KITAP/KITAS and a Valid Passport.
5. Submit the Taxpayer Identification Number (NPWP) for photocopying. If the Depositor do not yet have an NPWP and have not completed the data matching process, the Depositor are required to sign a declaration letter with sufficient stamp duty.
For Non-Individual Depositor (Business Entities), the following documents must be submitted:
• Owner's Electronic ID Card (E-KTP).
• Company's Tax Identification Number (NPWP).
• Company Establishment Deed.
• Business Registration Number (Nomor Induk Berusaha "NIB")
• Declaration letter of individual establishment from the Indonesia Ministry of Law and Human Rights.
6. Bilyet Deposito is only valid at the issuing Bank Mestika office.
7. Bilyet Deposito cannot be transferred or sold to another party.
8. The placement and maturity of Foreign Currency Time Deposits will be subject to the exchange rate prevailing at the Bank at the time of the transaction.
9. The Bank is not obligated to make payments in foreign currency banknotes for the withdrawal of Foreign Currency Time Deposits and/or the payment of interest thereon.
10. If the Depositor does not make a withdrawal upon the time deposit's maturity, Bank Mestika will automatically extend the Automatic Roll Over (ARO) for the same period with the prevailing interest rate at the time of renewal.
11. The bank is not obliged to issue a notification for deposit renewal without the Depositor’s request.
12. If the Depositor has any obligations to the Bank, the Bank shall, at its discretion, have the right to withhold the principal amount of the Time Deposit and the interest thereon.
13. Any changes to the information, including but not limited to changes in address or signature that differ from the information previously provided, must be immediately notified to the Bank in writing.
14. If the Depositor passes away, the release of the deposit account by the heir shall conform to the prevailing laws.
15. If the principal and/or interest of the deposit cannot be transferred to the source account designated by the Depositor as the receiving account for payment be-cause the account is dormant, blocked, or closed, the payment of the principal and/or interest will instead be converted to an Automatic Roll Over (ARO) of both the principal and the interest.

Overview of Product and Service (General) Foreign Currency Time Deposit for Business/Legal Entities Download Here
Overview of Product and Service (General) Foreign Currency Time Deposit for Individual Download Here

Product Risk

1. Any early withdrawal made before the maturity date will be subject to a 1% penalty of the principal amount, or no interest will be accured.
2. Time Deposit Opening Cancellation Fee Rp 100.000,- per bilyet.
3. In case of loss of the bilyet deposito, the Depositor shall inform the authorities in order to close the deposit account at the Bank.

For more information call us MestikaCall 14083 or visit our nearest branch.