LPS Decides To Hold The Savings Guarantee Interest Rate At 4.25 Percent

LPS Conference (Photo: Aris Nurjani/VOI)

JAKARTA - The Board of Commissioners of the Deposit Insurance Corporation (LPS) decided to maintain the Interest Rate of Rupiah deposits at Commercial Banks and BPRs, as well as foreign exchange deposits at Commercial Banks.

LPS maintains Rupiah deposits in commercial banks and BPRs of 4.25 percent each at commercial banks and 6.75 percent at the People's Economy Bank (BPR). And, for TBP foreign exchange deposits (foreign currency) at commercial banks of 2.25 percent.

Chairman of the LPS Board of Commissioners Purbaya Yudhi Sadivewa said this decision was taken after considering the development of market interest rates, banking liquidity conditions and financial system stability as well as efforts to maintain the momentum of economic and internal banking recovery.

In addition, to anticipate the risk of financial market uncertainty and provide space for liquidity management and deposit interest rates.

"So it is proposed to maintain the rupiah TBP and foreign exchange during the January 2024 regular evaluation period," said Purbaya at a press conference at the Savings Guarantee Interest Rate in Jakarta, Tuesday, January 30.

Furthermore, the TBP will apply for the period from February 1 to May 31, 2024.

Purbaya also appealed to banks to transparently convey to store customers about the current amount of Guarantee Interest Rate.

"Among other things, by placing this information in places where customers are easily known and through the information media and bank communication channels to customers," concluded Purbaya.