Amount of dollar deposit lessening<\/p>\n
From Bisnis Indonesia<\/p>\n
On Nov. 5, 1997, I deposited US$10,000 at Bank BNI Senayan
\nBranch, Jakarta, for a three-month term. On Feb. 5, 1998, upon
\nthe maturity of the deposit, I became puzzled when I was told
\nthat I could not withdraw the deposit because the bank had run
\nout of dollars.<\/p>\n
A bank officer called Tuti suggested that the deposit be
\nshifted to Dolar Plus BNI, another of the bank's deposit schemes.<\/p>\n
After explaining to her that I urgently needed the dollars, I
\ncould withdraw 50 percent of the deposit and had to put the
\nremaining 50 percent in the Dolar Plus scheme.<\/p>\n
Again, however, I was puzzled because the amount of my entire
\ndeposit was only $9,947.70. Ms Tuti explained to me that the
\nprincipal of $10,000 bore an interest of $150.71 for three months
\n(at 7 percent interest rate a year). So the principal plus the
\ninterest amounted to $10,150.71.<\/p>\n
However, bank provision of 2 percent of this amount, or $203,
\nhad to be deducted from this amount, leaving $9,947.71. Well, I
\ndeposited $10,000 on Nov. 5, 1997, got an interest of 7 percent
\nper year, had to pay bank provision of 2 percent and finally got
\nback $9,947.71. This means that after depositing my $10,000 for
\nthree months I had to sustain a loss of $52.31.<\/p>\n
What continues to puzzle me is that to my way of thinking if
\nwe deposit some money at a bank with a certain percentage of
\ninterest we will have in the end a bigger amount than the
\nprincipal, and not the other way round.<\/p>\n
I look forward to an explanation from Bank BNI.<\/p>\n
MIRANTI<\/p>\n
Jakarta<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/amount-of-dollar-deposit-lessening-1447893297", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }