If you're looking for a place to save money, don't just look at the promotions or prizes offered by banks. The most important thing is the savings interest. This interest is the reward you get for keeping your money in the bank – so the higher the interest, the faster your money grows.

Why comparing savings interest is important

Each bank has different policies. Some offer high interest but have monthly administration fees, while others have low interest but no fees. This is where it's important to compare them one by one.

Conventional bank savings interest comparison (October 2025)

Most conventional banks have relatively low interest rates because their focus is on transaction convenience and offline services.

Savings interest in digital banks

Now, many digital banks offer higher interest without complicated admin fees. Some examples:

Digital banks usually offer higher interest rates because their operational costs are lower; they don't need branch offices, queues, or physical forms.

Tips for choosing the best interest savings

1. Look at net interest, not just the nominal amount.

Sometimes high interest is cut by taxes or admin fees, so check the details first.

2. Adjust to your needs.

If you need a savings account for daily transactions, a conventional bank might be more suitable. But for long-term savings, a digital bank could be the best choice.

3. Pay attention to additional features.

Some banks offer cashback, reward points, or additional interest if you use other products (like credit cards or investments).

If your goal is to save so your balance grows faster, digital banks are clearly superior in terms of interest. But if you need stability, a wide ATM network, and convenient offline transactions, conventional banks still have their place.

Most importantly: choose a bank that makes you comfortable and fits your lifestyle. Because saving is not just about numbers, but also about habits.

Also read: Types of savings you need to know before choosing

Frequently Asked Questions

1. Is savings interest the same in all banks?

No. Each bank has its own interest policy depending on the product and minimum balance.

2. Why can savings interest in digital banks be higher?

Because their operational costs are low and they focus on online services without physical branches.

3. Is savings interest subject to tax?

Yes, savings interest is subject to a 20% tax on the total interest you receive.

4. Which is safer, conventional or digital banks?

Both are safe as long as they are supervised by the OJK and guaranteed by the LPS up to Rp2 billion per customer per bank.

5. Does high interest always mean better?

Not always. Make sure to also look at the bank's reputation, ease of access, and other additional features.