Get to know Sharia Deposits, Benefits, and Profit Sharing

Recently, people have begun to be literate about investing thanks to the proliferation of various information on the internet, especially financial matters. One of the most popular investment instruments is sharia deposits. To get to know him more deeply, see the full review below.

What is Sharia Deposit?

Sharia deposits are time investment products in accordance with sharia principles and the mudharabah principle. Mudharabah is a form of cooperation between two or more parties based on a production sharing agreement. This is what distinguishes between Shari’a and conventional, which lies in the contract.

The customer will receive a ratio or profit sharing as a profit on the capital or funds invested. Customers can be individuals or entities with a choice of a certain period of time, usually 12, 6, 3, 1 month or even daily.

In its management, the customer’s position is as the owner of the funds or commonly referred to as the shahibul mal. The bank acts as a manager or mudharib who will utilize these funds for various business developments, of course, which do not conflict with sharia principles.

What are the benefits?

After knowing what sharia deposits are and at a glance the basic concepts, you should also know about the benefits. In general, no matter what form of investment you make, the goal is to realize your financial goals in the future. In addition, other benefits that can be obtained from sharia-based deposits are as follows.

1. Halal is clear

This is perfect for those of you who are very careful in choosing ways to circulate money, especially with the halal status. You don’t need to worry anymore about this because the bank will definitely manage customer funds in accordance with Shari’a principles so that the profits you get later are definitely halal.

2. The funds you save are guaranteed to be safe

As with deposits in general, the funds you invest in sharia deposits are guaranteed by the Deposit Insurance Agency (LPS) as regulated by the Sharia Supervisory Board. So, if the bank goes bankrupt, the funds you have invested will not disappear. The amount of money guaranteed reaches 2 billion rupiah.

3. Profit calculation is clear from the start

If conventional deposit profits are calculated based on interest rates, sharia deposits use a profit-sharing or profit-sharing system as previously described. The profit sharing calculations will be notified from the start so that customers know it clearly.

However, what is of concern is that profits are volatile or changeable. Of course, bank performance and operating income are the most determining factors.

4. Can be used as an emergency fund

As previously explained, the period for disbursing Shari’a deposits is 12, 6, 3, 1 month or even daily. This short time allows the funds you plant to function as an emergency fund. You don’t need to be confused if at any time you need funds quickly in large amounts.

As we know, in life sometimes unexpected things happen, such as falling sick or sudden damage to electronic devices or vehicles. Because of this, emergency funds are crucial and must be owned by everyone.5. Can also be used as collateral for financing

If you want to apply for financing, such as renovating a house but don’t want to withdraw deposit funds, simply use these funds as collateralfor the bank. In this way, your needs are met, the funds that you invest in Shari’a deposits remain safe in their place.

What is the formula for the result?

In sharia deposits, the profit sharing formula that is usually applied to calculate the ratio or profit is as follows.
Ratio = (Nominal deposits: Total deposits) x Percentage ratio x bank profit this month
Here is a clear example of the calculation.

Dina has funds that she keeps in sharia-based deposits of 50 million. The total amount of deposit funds that came in that month amounted to 5 billion. The percentage of the agreed ratio is 10%. Meanwhile, the bank’s profit this month is 100 million. So, the benefits that Dina will get this month are:

Profit: (Rp 50 million/Rp 5 billion) x 10% x 100 million = 40,000
This is a brief overview of sharia deposits, their meanings and benefits for investment as well as a simulation for calculating yields. After reading the reviews, are you interested in this one investment instrument?