Do you realise that without planning, everything we do is a waste of time? It often happens when we shop at a supermarket without a shopping list; we will end up with a lot of choices and impulsive buying. The same is true with financial planning; we must have goals and priorities that can be measured so that we can achieve our financial goals. Complicated? Not really. You can create a timeline for your financial goals:
Short-term goals usually cover a period of one year to two years. For example, when making plans for a holiday, we should at least maintain enough money or set aside part of our income to cover the holiday costs in advance.
Medium-term financial goals cover a period of two to ten years. One example is setting up money for quality education for your children. Investment instruments for medium-term goals are different from short-term goals.
Long-term financial goals usually cover a period of more than ten years. The risks could be bigger because we have a long time to anticipate all forms of uncertainty. One example is setting up a retirement fund. We must make proper retirement plans to avoid becoming a burden for our children and grandchildren in the future. Another example of long-term financial goals is education. The question is, how to start?
When you have set aside part of your income, the next step is to save it. You can stash your cash in low-risk investment instruments that don’t need substantial capital. There are a variety of investment instruments that start from a million rupiah. What are the low-risk investment instruments that can be the first step for your investment journey?
Placing funds in deposits is more profitable than saving because deposits offer higher returns. Term deposits carry different maturities ranging from one month to twelve months. In the past, people assumed that opening a deposit account required a huge fund. However, today you can open a time deposit account starting from one million rupiah through the digibank by DBS application. The deposit feature allows digibank by DBS customers to make deposits anytime and anywhere. Currently, the interests offered are relatively higher compared to term deposits in general, namely 5.5% p.a. digibank by DBS deposits are also guaranteed by the Deposit Insurance Corporation (LPS).
Bonds are similar to deposits because they are low-risk but offer relatively high returns. There are three types of products we can buy through digibank by DBS application, namely Retail Savings Bond (SBR), Indonesian Retail Bonds (ORI) and Sukuk Savings (ST). SBR, ORI and ST offer monthly coupon payments. You can buy all three products through the e-SBN feature at the time of the product's initial launch with an initial investment of one million rupiah. The e-SBN feature allows customers to invest in a 100% end-to-end digital process, from the registration of Single Investor Identification (SID) to the purchase and resale of tradable bonds. You don't have to go through a complicated process and investing in a banking platform is certainly safer.
There are three types of bonds traded on the secondary market, namely FR, INDON and INDOIS. In the past, customers must have a large initial capital of at least one hundred million rupiah to enter the secondary market. However, today, customers can access the secondary market without having to prepare large funds. Through digibank by DBS, customers can start investing in the secondary market starting from one million rupiah. digibank by DBS is the first digital banking service that gives people fully digital access to the secondary market.
An emergency fund is no less important when life is full of uncertainty. Without an emergency fund, we will have problems in an emergency. One concrete example is the Covid-19 pandemic that has caused economic uncertainty across the country. However, don't worry! You can manage your emergency fund by using appropriate investment instruments such as deposits and bond securities. You can access your deposits and bonds through the digibank by DBS application that allows you to manage your investment instruments easily and quickly without having to go to a branch office.Financial management using a variety of low-risk investment opportunities can not only function as an emergency fund but also to make a profit. Anyone can make an investment without having to go through complicated processes and without the need of large funds through digibank by DBS. "People often consider banking activities, including financial management, complicated. The length of time required and the process that tends to be long are often considered as obstacles for everyone who wants to start their financial journey. However, a balanced financial management is the key to individual economic freedom and stability. Bank DBS Indonesia realises the role of technology in removing these obstacles and helping customers achieve their financial goals. Today, anyone can make an investment without having to go through a complicated process and without having to set aside a large fund through digibank by DBS," said PT Bank DBS Indonesia Managing Director, Head of Digital Banking Leonardo Koesmanto.Currently, DBS is holding the #SemuaPastiBisa campaign to encourage people to manage and develop their finances wisely using the digibank by DBS app. Customers can do all banking activities, such as opening an account, top up their e-wallet, pay monthly bills, transfer foreign exchange funds, open a deposit account, invest in the secondary market, and open a forex account with 10 currencies in one application.
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About DBS
DBS is a leading financial services group in Asia with a presence in 18 markets. Headquartered and listed in Singapore, DBS is in the three key Asian axes of growth: Greater China, Southeast Asia and South Asia. The bank’s “AA-” and “Aa1” credit ratings are among the highest in the world.
Recognised for its global leadership, DBS has been named “World’s Best Bank” by Euromoney, “Global Bank of the Year” by The Banker and “Best Bank in the World” by Global Finance. The bank is at the forefront of leveraging digital technology to shape the future of banking, having been named “World’s Best Digital Bank” by Euromoney. In addition, DBS has been accorded the “Safest Bank in Asia” award by Global Finance for 11 consecutive years from 2009 to 2019.
DBS provides a full range of services in consumer, SME and corporate banking. As a bank born and bred in Asia, DBS understands the intricacies of doing business in the region’s most dynamic markets. DBS is committed to building lasting relationships with customers, and positively impacting communities through supporting social enterprises, as it banks the Asian way. It has also established a SGD 50 million foundation to strengthen its corporate social responsibility efforts in Singapore and across Asia.
With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. The bank acknowledges the passion, commitment and can-do spirit in all our 28,000 staff, representing over 40 nationalities. For more information, please visit www.dbs.com.
