Banking - Deposit interest continues to rise

Banking - Deposit interest continues to rise Bank Indonesia (BI) has decided to maintain its benchmark interest rate, or BI rate, at the level of 6.25%. However, bank deposit interest rates continue to trend upward. It was recorded that interest on one-month tenor banking deposits reached 4.63% in June 2024. This deposit interest increased compared to the previous month, May 2024, which was 4.61%. Meanwhile, based on the money supply analysis report, deposit interest increased for tenors of 1 month, 12 months, and 24 months, respectively, to 4.64%, 5.91%, and 4.10% in May 2024, after April 2024 recorded 4.62%, 5.88%, and 4.05%, respectively. (Source : Kontan)