Even Though the BI Interest Rate Rises, Consumer Credit Interest Rates Could Fall

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Adi Ahdiat 24/08/2022 13:50 WIB

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Between April and November 2018, Bank Indonesia's benchmark interest rate rose from 4.25% to 6%. However, during that same period, the interest rate on general bank consumer credit actually decreased.

Bank Indonesia's Reference Interest Rate and General Bank Consumer Credit Interest Rate (January 2018-June 2022)

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Even Though the BI Interest Rate Rises, Consumer Credit Interest Rates Could Fall

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Bank Indonesia's Reference Interest Rate and General Bank Consumer Credit Interest Rate (January 2018-June 2022)

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Bank Indonesia (BI) raised its benchmark interest rate by 25 basis points (bps) to 3.75% in August 2022.

Some predict this could lead to an increase in consumer credit interest rates, such as for home or vehicle loans.

However, historically, the growth of the benchmark interest rate has not always been directly proportional to consumer credit interest rates.

For example, during the April-November 2018 period, BI's benchmark interest rate rose from 4.25% to 6%.

Yet, during the same period, the consumer credit interest rate of general banks actually decreased from 12.4% to 11.8%, as shown in the graph.

During the February-June 2022 period, BI also held its benchmark interest rate at 3.5%. However, during that period, the consumer credit interest rate of general banks showed a downward trend instead of stagnating.

According to Daniel Djumali, Secretary General of the Indonesian National Association of Housing and Settlement Developers (Apersi), the August 2022 increase in BI's benchmark interest rate will not significantly impact home loan (KPR) interest rates.

"If (the increase in the benchmark interest rate) is still only 25 basis points, it won't have much of an impact, but if it reaches 1 percent, then it will be quite significant," said Daniel, as reported by Tempo.co on Tuesday (23/8/2022).

(See Also: This is a List of Banks with the Lowest Home Loan Interest Rates)

Editor : Adi Ahdiat

"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."

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Even Though the BI Interest Rate Rises, Consumer Credit Interest Rates Could Fall

Even Though the BI Interest Rate Rises, Consumer Credit Interest Rates Could Fall

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Even Though the BI Interest Rate Rises, Consumer Credit Interest Rates Could Fall

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Trend in the Number of Stock and Other Securities Investors in Indonesia 2017-2024

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The number of Transjakarta, MRT, and LRT users in Jakarta increased in September 2025.

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