Bank Mandiri Records Surge in Student Savings, SimPel Balance Reaches Rp 354 Billion

JAKARTA - PT Bank Mandiri (Persero) Tbk has recorded significant growth in its Tabungan Simpanan Pelajar (SimPel) product, in line with the increasing interest in saving among students. As of March 2026, the total SimPel balance at Bank Mandiri stood at Rp 354 billion, with an average balance of Rp 366,000 per account. Bank Mandiri’s Corporate Secretary, Adhika Vista, stated that through SimPel, the company is accelerating financial inclusion for students in an integrated manner. This is because the savings product does not stand alone but is connected to practical financial literacy programmes, a network of partner schools across various regions in Indonesia, and a research-based approach that ensures every initiative is relevant, measurable, and sustainable. “Financial literacy and inclusion from an early age are important foundations in shaping an adaptive and competitive generation, so through Tabungan SimPel, the company not only expands access to financial services for students but also instils sustainable financial thinking,” Adhika said in his statement on Sunday (3/5/2026). On average, account growth from 2021 to 2025 reached 117,000 accounts per year, with a growth rate of 19.3 percent. This positive trend continued into 2026, with a total of 966,000 accounts by March, up around 12 percent from the previous year. Adhika added that the SimPel programme is also part of Bank Mandiri’s strategy to strengthen student financial literacy through educational approaches in schools and various regions in Indonesia. In terms of distribution, the majority of SimPel customers come from the high school level, accounting for 64 percent, while East Java is the region with the largest contribution in terms of account numbers. In 2025, the company held financial literacy programmes at Musamus University in Merauke and Gorontalo State University, reaching more than 1,000 students. Then in 2026, the literacy outreach was further expanded, touching nearly 10,000 participants across educational levels, with an increase in understanding of 47 percent. “For Bank Mandiri, every first account is the beginning of a great journey towards a more directed, independent, and sustainable future,” Adhika concluded.