Thread: Opening a bank account in Bali

I got one at BII. And I was just in the country on a tourist visa. I did have to supply a local address though, but I just used the address of some of our friends living in Bali. Rules can have changed since then of course. I got it maybe 4 or 5 years ago.

I did try these two banks and apparently rules changed in 2004.

I tried to open an account at BCA and BII and was told that I needed a KITAS. My indonesian wife opened one up and I deposit in it. If more than 100 million rupiah is deposited at one time, the owner of the account will have to go to the main branch in Denpasar and fill out a form stating where it came from.

An account can be opened by anyone, apparently someone you trust, locally. And another thing, this is a rupiah only account. If you deposit other denominations they will be exhanged for rupiah.

Does anyone know what sort of interest rates are available for term deposits in indonesian Banks.

Here you can see the interest rates of BCA:

http://www.klikbca.com/individual/silve ... s.html?s=2

That should give you an idea of what to expect.

It's amazing how fast the interest rate has dropped. I think it is no more than a year ago where you could get about 11% return on term deposits

I still have a 50 mio time deposit running for another 2 months with 10%. 8)

Another thing is that 20% of the interest earned goes to the government.

Originally Posted by balimudder

Another thing is that 20% of the interest earned goes to the government.

Do you mean as a tax? Our BCA account gets the Bunga every month, but I didn't see any come out..