Evaluation Results In August, LPS Generalizes No Increase In Savings Interest Rate

Illustration (Photo: Doc. Antara)

JAKARTA - The Deposit Insurance Corporation (LPS) announced that there will be no increase in deposit deposit rupiah and foreign currencies at public banks.

"Based on the evaluation in August 2022, the deposit rupiah and foreign exchange rate did not change for the period from 28 May to 30 September 2022 according to the results of the determination of the May 2022 period," LPS wrote in an official statement, Tuesday, August 30.

Previously, in May 2022 LPS set the deposit guarantor interest rate at 3.50 percent for rupiah and 0.25 percent for foreign currencies at public banks.

For this reason, LPS stated that it would evaluate the interest rate of the guarantor every month in accordance with Law Number 24 of 2005 concerning LPS and the Deposit Insurance Corporation Regulation (PLPS) Number 2 regarding the deposit guarantee program.

Just so you know, LPS sets the guarantee interest rate three times a year, namely in January, May and September.

LPS urges the director of the national general bank to place announcements and information about the maximum level of guarantee interest and the maximum value of deposits guaranteed by LPS in all bank offices that can be easily identified by deposit customers.

"Finally, in order for you to ensure transparency in the level of interest provided as a form of consumer protection so that customers know that in the deposit interest rate received by customers exceeds the interest rate of LPS guarantees, the customer's deposit is not included in the LPS guarantee," concluded the announcement.