Differences in Interest Rates and Fees for BRI Business Accounts and Personal Accounts

Written by
Ekky Pramana
Last Modified on
March 7, 2024

Bank Rakyat Indonesia or BRI is a bank that is spread throughout all corners of Indonesia, as of now, BRI has more than 10,000 BRI offices around the country. In addition to land office services, BRI also has 4 Teras BRI (BRI Terraces) in the form of ships that reach certain waters in Indonesia. 

BRI has successfully carried out various large corporate actions as part of its inorganic growth. One of them is the merging of BRI Syariah and Bank Mandiri Syariah and BNI Syariah into Bank Syariah Indonesia (BSI), where after this action was carried out, BRI was able to have an increase in stock prices, from around Rp500 per shares before the merging to BSI around Rp.2000 per shares after merging.

Next, BRI achieved GOLD in the Future of Work aspect, namely the Best Advance for Leading Under a Crisis category and GOLD for Best Advance in Business Automation category after competing against other prestigious companies around the world such as Accenture, Capgemini, and many more. BRI's flagship products include savings, loans and banking services. Here we will describe the details of the two main products below.

BRI Personal Account

BRI's Personal Account products consist of savings, loans, banking and investment services. Whereas BRI savings deposits are further divided into several segments as follows:

  • Simpedes;
  • Britama;
  • Britama Bisnis;
  • Britama X;
  • Simpedes TKI;
  • Tabungan Haji;
  • Britama Rencana;
  • Britama Valas;
  • Junio;
  • BRI Simple; and
  • Tabunganku.

To open a personal account or personal saving account at BRI, you can come directly to the nearest branch office, fill out an account opening application form and prepare personal identification in the form of an ID card and NPWP. Foreigners in Indonesia can attach documents in the form of Passport and KITAS/KITAP. You can also open the BRI website and fill out the BRI eform to apply for a personal account application.

To open a BRI account, you also have to prepare an initial deposit of IDR 100,000 (one hundred thousand rupiah). You will get a bank account passbook and also a bank Card (BRI Card) which functions as an ATM Card and Debit Card with complete transaction features.

BRI Personal Interest Rate

The interest rates offered by BRI varies according to account types, nominal of the savings stored, and deposit time. Here is the different interest rates according to the different types of BRI personal accounts:

  • Simpedes : 0.00% - 1.75%
  • Britama : 0.70% - 1.90%
  • Britama Bisnis : 0.00% - 2.75%
  • Britama X : 0.70% - 1.90%
  • Simpedes TKI : 0.00% - 1.75%
  • Tabungan Haji :-
  • Britama Rencana : 0.00% - 3.25%
  • Britama Valas : 0.70% - 1.90%
  • Junio ​​: 0.70% - 1.90%
  • BRI Simple :-
  • Tabunganku : 1%

BRI Personal Account Opening Fee

To open a savings account at a bank, an initial administration fee is generally charged in lieu of the passbook and debit card cost received by the customer. This fee is charged outside of the initial deposited balance. The followings are the administrative costs for opening a personal account at BRI:

  • Simpedes : Free of charge
  • Britama : Free of charge
  • Britama Bisnis : Free of charge
  • Britama X : Free of charge
  • Simpedes TKI : Free of charge
  • Tabungan Haji : Free of Charge
  • Britama Rencana : Free of Charge
  • Britama Valas : Free of charge
  • Junio ​​: Free of charge
  • BRI Simple : Free of Charge
  • Tabunganku: Free of Charge

BRI Business Account

BRI offers business accounts for SMEs and corporations to provide more flexibility in transactions, more transparency in transaction recording, and more benefits to support business transactions needs of corporate customers/companies. BRI business accounts can be set up in rupiah or foreign currency (foreign currency). The different options of BRI business account include Britama Business; Saving accounts; and current account.

To open a BRI business account, you can come to the nearest BRI branch office by bringing in the following required documents:

  • Identity card of the founder and person in charge of the company (KTP for Indonesian citizens and KITAS for foreigners);
  • Tax Identification Number (NPWP) of the founder and person in charge of the company;
  • Deed of Incorporation;
  • SK Kemenkumham company;
  • Company Tax Identification Number;
  • Company domicile permit;
  • NIB; and
  • Business License from OSS.

The bank officer/teller will direct you to fill out an account opening application form (AR-02), and ask you to attach a Power of Attorney  made by the company management to appoint the authorized person as the cardholder and account holder. The initial balance deposit for a business account is IDR 1,000,000.

BRI Business Interest Rate

The interest offered by Bank BRI to its customers may change according to banking market conditions, and the Bank's internal policies which will be notified in general through the BRI Bank Office. Below is a detailed description of the general interest rates:

  • Britama Bisnis : 0.00% - 2.75%
  • Time Deposit : 2.00% - 2.85%
  • Current Account : 0.00% - 2.00%

BRI Business Account Opening Fee

To open a business account at BRI, an initial administration fee is generally charged. This is different from the monthly administration fee that is billed to the customer or the initial deposit made to open the account. Generally, this fee excludes the duty stamp fee that needs to be affixed to the signature for the prospective account holder opening form. The following is a breakdown of the fees for opening a BRI business account:

  • Britama Bisnis : Free of charge
  • Deposit : Free of charge
  • Current Account : Free of Charge

In addition to savings account products, BRI also offers a variety of products and services as an effort to continue the positive momentum of the national economy revival. One of them is by establishing an ecosystem for ultra micro businesses with Pegadaian and PNM which aims to provide integrated financial services to the Ultra Micro business segment in Indonesia.

BRI’s main value is to prioritize and strengthen its business asset growth strategy in the MSME segment through the empowerment of ultra micro businesses (UMi). To support this strategy, the company's transformation process will certainly include the Digital and Culture sector. Both of these aspects are believed to have an impact on increasing the Company's business growth, increasing efficiency in business processes to reduce costs and exploring new business models, as well as encouraging corporate culture so that all parties at BRI are actively involved in it.

BRI is the bank with the largest consumer base in Indonesia. Even so, the majority of people in Indonesia have more than 1 bank account, evenmore in the case of companies. This could be due to the different attractive interest rates and schemes provided or the promotional programs offered by different banks, or even to fulfill certain needs of business partners or networks. 

In response to this, Aspire all-in-one finance management system provides integrated features for all your operational finance needs.

With Aspire, send and receive money via virtual accounts to various banks all around Indonesia. All transactions will be recorded neatly and integrated with the company's bookkeeping software and budgets for a more transparent reporting. Check out the other Aspire features that can help streamline your company's operational finance management process.

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About the author
Ekky Pramana
is a seasoned writer specialising in business finance and management. With a writing history at Tech in Asia, Teknoverso, and various other publishers, he leverages his market expertise to empower and educate first-time founders in managing their businesses better.
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