Interest Rates on General Bank Deposits Continue to Fall in the Last Year

Finance

Lite

Viva Budy Kusnandar 24/08/2022 16:20 WIB

URL has been copied

Memuat...

An increase in the BI7DRR interest rate is usually followed by an increase in banking interest rates, both for deposits and loans.

Deposit Interest Rates by Term (Jul 2021 – Jul 2022)

A Font Kecil
A Font Sedang
A Font Besar

Access single data

Interest Rates on General Bank Deposits Continue to Fall in the Last Year

Want to get more access to Data Stories with a more affordable price? Subscribe.

By subscribing, you join us in presenting quality data.

Get:

Premium Data Stories access
Comfortable reading without ads
Download data in XLS, PDF, and image format
Access to data source information

Basic

~~Rp100.000~~

Rp50.000/month

Professional

~~Rp100.000~~

Rp150.000/month

Institutional For organizations

We accept the following payments:

Some payment methods are still in the process of being activated.

Deposit Interest Rates by Term (Jul 2021 – Jul 2022)

Download

Source

A Small Font
A Medium Font
A Bigger Font

The Bank Indonesia (BI) Board of Governors meeting on August 22-23, 2022, decided to raise the BI 7-Day Reserve Repo Rate (BI7DRR) by 25 basis points (bps) to 3.75%. BI also increased the Deposit Facility rate by 25 bps to 2.5% and the lending facility rate by 25 bps to 4.5%.

This increase in BI's benchmark interest rate will typically lead to higher interest rates in banks, for both savings and loans.

According to Bank Indonesia (BI) data, the one-month deposit rate (time deposit) for general banks has fallen by 65 bps to 2.84% per year in June 2022 compared to June 2021 (year-on-year/yoy).

The deposit interest rate for a 3-month term fell by 65 bps (yoy) to 2.97% per year, and the deposit interest rate for a 6-month term also fell by 83 bps (yoy) to 3.21% per year.

Similarly, the deposit interest rate for a 12-month tenor fell by 138 bps (yoy) to 3.27% per year, and the deposit interest rate for a 24-month tenor also fell by 197 bps (yoy) to 3.5% per year.

Restrictions on community social activities during the Covid-19 pandemic impacted sluggish business activities. In addition, BI's benchmark interest rate, maintained at its lowest level of 3.5%, helped suppress savings interest rates until June 2022.

Editor : Annissa Mutia

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."