Krom Bank Introduces Competitive Digital Banking Products

Enhanced Savings and Deposit Offerings

Krom Bank is making significant inroads in Indonesia's digital banking sector with its competitive interest rates for both savings and deposit products. The bank's digital platform offers 6% p.a. interest on savings accounts, positioning it as one of the most attractive offerings in the current market.

Flexible Deposit Products

The bank's deposit products, namely Deposito Krom Max and Deposito Krom Flex, offer interest rates ranging from 7% to 8.25% p.a. for Deposito Krom Max and 6.5% to 7.75% p.a. for Deposito Krom Flex. What sets Krom Bank apart is the flexibility of its deposit tenors, which can be customized from 14 to 365 days.

Key Features of Krom Bank's Products

1. Flexible Tenor: Deposit tenors can be selected based on specific maturity dates using an in-app calendar
2. Multiple Account Capability: Customers can create up to 20 accounts for each deposit product type
3. Low Entry Barrier: Minimum deposit opening amount is only Rp100,000
4. Penalty-free Withdrawal: Deposito Krom Flex allows withdrawals without penalty while still earning 6% p.a. interest

Competitive Advantage in Digital Banking

Krom Bank's digital banking products come with several competitive advantages, including no minimum balance requirement for savings accounts and free monthly administration. The bank also offers 100 free transfers to other banks per month, making it an attractive option for active digital banking customers.

Market Positioning

The bank's competitive rates come as traditional banks maintain lower rates following Bank Indonesia's decision to maintain the BI-Rate at 4.75%. Krom Bank's digital-centric approach and customer-friendly features are positioning it as a significant player in Indonesia's rapidly evolving digital banking landscape.