LPS Holds Savings Guarantee Interest Rates At 4.25 Percent

LPS holds the deposit guarantor interest rate at 4.25 percent. (Photo: dock. Antara)

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 Sadive 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 support domestic economic growth and real sector performance, strengthen the intermediation momentum of the banking system and provide further space in liquidity management and interest rates.

"So RDK LPS determines to maintain the interest rate of deposit guarantor at commercial banks and BPR as well as foreign exchange deposits at commercial banks," Purbaya said at a press conference at the Interest Rate of Deposit Guarantees in Jakarta, Tuesday, May 28.

Furthermore, the TBP will apply for the period June to September 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.