Kredit Rekening Koran

Checking Account Credit is a facility provided by working capital. Checking Account Credit Facility is a short-term loan and the time period can be extended.
This product provides flexibility where the withdrawal may be performed any time with scrap (chequebook/transfer form) between the credit period. This product is also available in USD and SGD currencies. The Facility is only available for the selected debtor that is having revenue in SGD and USD. Withdrawal mechanism is in the form of SGD and USD is using withdrawal slip.

Benefits

• Loan facility withdrawal can be more flexible according to the Customer cash flow needs.
• Interest can be paid according to the tray debt used; the basic fund is paid off on the due date of credit.
• The Customer may apply extension facility request if necessary.

Risks

• If the fund is not available when the withdrawal of clearing scrap (chequebook/BG), then there will be a clearing rejection and may affect the Customer’s track record on the blacklist of Bank Indonesia.
• If the facility usage is over limited, then there will be a higher interest of the excessing.
• If the interest payment is late, then it will affect the Customer’s credit quality recorded in Bank Indonesia and there will be fine.
• If the credit facility is due dated and the Customer fails to pay the basic fund and the interest, then it will affect the Customer’s credit quality recorded in Bank Indonesia and the loss of higher interest payment above the normal interest, calculated by all the debt trays.

Requirements and procedures

Requirements will be presented on the Credit Application Form.

• Withdrawal procedures for Rupiah Checking Account Credit will use cheque book and BG as the medium.
• The Checking Account Credit for SGD or USD are using withdrawal slip medium.
• Interest payment will be on every 10 each month.
• If the due date of interest and/or the due date of the promissory note and/or the due date facility falls on Saturday/Sunday/Holiday, then the interest and/or basic fund payment will be debited on the last working day.
• For information/complain about Periodic Credit Bank Danamon, the Customer may visit the nearest branch or call Hello Danamon at 1-500-090. The procedure of complains referring to the offering letter that has been presented to the Customer before the Letter of Credit is signed.

Checking Account Credit interest calculation *)

Checking Account Credit Limit IDR 1.000 booked, interest on 14% p.a. (in million rupiahs)

The interest will be debited as the following calculation:

Dated on 1-5 Jan 15; 4 days; 0x4x14%p.a./360 = IDR 0,-
Dated on 5-8 Jan 15; 3 days; 0x3x14%p.a./360 = IDR 0,-
Dated on 8-10 Jan 15; 2 days; 300x2x10%p.a./360 =IDR 0,233

Fine Calculation of Checking Account Credit
Fine Interest 38% p.a., will be charged to the exceeding limit used.

Fined fee is calculated by:
Dated on 10 Feb – 20 Feb 15; 10 days; IDR (1.007,553 -1.000) x10x38%/360 = IDR 0,079
Interest fee is calculated by:
Feb :
Dated on 10 Jan – 20 Jan 15 ; 10 days; IDR 300,233x10x14%p.a/360 = 1,167
Dated on 20 Jan – 10 Feb 15 ; 21 days; IDR 998,233x21x14%p.a/360 = 8,152
Total Interest on Feb = 9,319

Mar :
Dated on 10 Feb – 20 Feb 15 ; 10 days; IDR 1.007,55x10x14%p.a/360 = 3,918
Dated on 20 Feb – 10 Mar 15 ; 18 days; IDR 807,55x18x14%p.a/360 = 5,653
Total Interest in Mar = 9,571

Interest payment date is every 10 in each month.

*) Above calculation example is a simulation example and not the real one.