Student Savings Reach Rp29.13 Trillion as Account Numbers Rise

The Financial Services Authority (OJK) recorded student savings reaching Rp29.13 trillion in the first quarter of 2026. This total comes from 59.03 million student accounts.

Dicky Kartikoyono, Executive Head of Financial Services Authority (OJK) for Business Conduct, Education, and Consumer Protection, stated that the student savings achievement in Q1 2026 reflects positive progress in improving financial inclusion in Indonesia. This achievement aligns with the ‘One Account per Student’ (Kejar) programme, which has reached 88.36% coverage.

“Trend-wise, the number of student accounts has continued to rise, growing by 1.25 per cent year-on-year (YoY),” Dicky said in a written response from OJK in Jakarta on Sunday, 24 May 2026.

The OJK acknowledged that student savings have experienced short-term fluctuations. However, overall, the savings trend remains positive, in line with the dynamic nature of student savings accounts.

Dicky did not specify the contribution of student savings to the total third-party deposits (DPK) of banks. However, he noted its contribution remains relatively limited.

Nevertheless, student savings are considered strategically valuable for expanding the future banking customer base. They also serve as a means to instil a savings culture from an early age.

“The OJK is optimistic that this positive trend will continue until the end of 2026, supported by strengthening the Kejar programme, improving financial literacy and inclusion, and synergy with various stakeholders,” he added.

The OJK will further strengthen the expansion of student account access in the future.