The Influence of Sharia Financial Literacy on Customers’ Saving Interest in BUMDes Sharia Kembang Setanjung

Abstract

Sharia financial literacy refers to individuals’ awareness and understanding in managing financial resources in accordance with Sharia principles. One of the prevailing issues is that customers’ decisions to save or not are influenced by perceptions of convenience and security. Some believe Sharia-based institutions to be less secure than conventional banks, mainly due to limited understanding of the differences in contract mechanisms. Most customers perceive the primary difference between conventional banks and BUMDes Sharia merely as institutional size. This study aims to examine the influence of Sharia financial literacy on customers’ interest in saving at BUMDes Sharia Kembang Setanjung. The results indicate a positive and significant relationship, evidenced by the t-test result (t = 7.620 > t-table = 1.987). The higher the level of Sharia financial literacy, the greater the customers' saving interest. Conversely, lower literacy levels result in reduced saving interest. The correlation coefficient of 0.633 suggests a strong relationship between Sharia financial literacy and customers’ saving interest based on standard interpretation guidelines.