Prepare for increased interest on deposits

Jakarta

Interest rate on the deposit in the banking sector it is said to be on the rise. This is in line with Bank Indonesia’s (BI) benchmark interest rate hike and Deposit Insurance Corporation (LPS) collateral interest.

LPS Board of Commissioners Chairman Purbaya Yudhi Sadewa said banks will usually be more responsive interest rate increase LPS Guarantee.

“Usually banks will respond to LPS guarantees. With a 25 basis point increase in guarantee interest, banks may increase in the future. But bank liquidity is still plentiful,” he said in a press conference on Tuesday (27/9 / 2022).

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Purbaya said that in the future the interest rate on deposits will follow the trend of interest in the market. “Deposits will increase, but they are limited due to good liquidity,” she said.

LPS CEO Lana Soelitianingsih said that currently credit distribution in banks is higher than third party funds (DPK). According to him this reflects the positive side. High credit means the economy is better and starts to improve.

According to him, the slowdown in deposits and many turning to sight deposits means that entrepreneurs are ready to move. “Especially long-term deposits that have turned into sight deposits. Traders are ready to expand if their current accounts are on standby,” he said.

From IDIC data to August 2022, progress interest rate The rupee deposit market rose 11bps to 2.47% and the foreign currency deposit rate jumped 25bps to 0.14%.

LPS said the stability dynamics of the financial system were still relatively under control. IDIC also sees a balanced economic recovery in line with long-term stability factors.

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