Document background
The Recurring Deposit Form is a fundamental banking document used in the Indonesian banking sector to establish a structured savings arrangement between a bank and its customers. This document is utilized when a customer wishes to commit to making regular fixed deposits over a specified period, typically ranging from 6 months to several years. It encompasses crucial information including the depositor's details, KYC documentation, deposit amount and frequency, interest rates, and maturity instructions, all in compliance with Indonesian banking regulations and OJK requirements. The form serves multiple purposes: it acts as an account opening document, provides authorization for automatic debits, and establishes the contractual relationship between the bank and the customer. It is designed to meet both regulatory requirements and practical banking needs while protecting the interests of all parties involved.
