Thursday, October 06, 2005
Deposit Insurance Agency (Lembaga Penjaminan Simpanan), a new agency formed by the government of Indonesia about 2 weeks ago, has just raised its insurance rate 100 basis points to 11.5% p.a for unlimited deposit of money in rupiah. Consequently, many banks have also raised its interest rate to the same percentage as insured by the agency.
Starting today, at least two major banks, Bank Mandiri and Bank Niaga, have implemented the new interest rate of 11.5% p.a plus incentive of about 1.5% p.a.
So, forget about BCA or other banks that offer interest rate of 8% p.a.
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Starting today, at least two major banks, Bank Mandiri and Bank Niaga, have implemented the new interest rate of 11.5% p.a plus incentive of about 1.5% p.a.
So, forget about BCA or other banks that offer interest rate of 8% p.a.
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