LPS & BI Rate

And the circular Lembaga Penjamin Simpanan (LPS) No. 17 Tahun 2020 regarding Determination of Reasonable Interest Rate for Deposits in commercial banks, it is hereby notified as follows:

BANK
EXPLANATION
MAXIMUM INTEREST RATE GUARANTEE (Rupiah)
MAXIMUM INTEREST RATE GUARANTEE (US $)
5.00%
1.25%
  1. The guarantee interest rate is valid for the period 1 October 2020 to 29 January 2021;
  2. The agreed deposit interest rate between the bank and the depositing customer exceeds the fair interest rate, so customer deposits are not guaranteed;
  3. Banks are required to notify and or inform customers regarding the fair interest rate;
  4. Banks are required to place announcements in all Bank offices that can be easily identified by the depositing customer regarding the interest rate deemed reasonable as determined by LPS