ABN AMRO Account launched

ABN AMRO Account launched

JAKARTA (JP): ABN AMRO Bank has launched a new product in rupiah and American dollar which it claims offers transactional convenience and the total flexibility of a savings account with the high returns of a time deposit.

Called ABN AMRO Account, the new product does not require minimum deposit, but customers can start earning interest only with balances above Rp 30 million (US$4,280) or $5,000.

"With the ABN AMRO Account, the more money customers keep in their account, the higher the interest rate. At the top tier, customers can even earn more than the highest time deposit rate," said ABN AMRO Bank's director of consumer banking Budi Sadikin in a press release.

Besides getting an overdraft facility of up to 90 percent of a pledged time deposit, each customer also will be assigned a personal relationship officer, Sadikin said when launching the new product on Wednesday.