Indonesian Digital Banks Adjust Deposit Rates Amid Stable BI Rate

Monetary Policy Stability

Bank Indonesia maintained the BI Rate at 4.75% during its October 2025 monetary policy meeting ¹

. The decision was consistent with market expectations and reflected the central bank's balanced approach to supporting economic growth while maintaining inflation control. BI Governor Perry Warjiyo emphasized that despite the stable policy rate, the transmission of rate cuts to banking interest rates remained slow.

Digital Bank Deposit Rate Adjustments

Several Indonesian digital banks made significant changes to their deposit rates in November 2025:

Bank Jago (ARTO)

• Lowered deposit rates for amounts above Rp1 billion to 6.25% from 6.50%
• Rates for lower amounts ranged from 5.00% to 5.75% depending on tenor
• Minimum deposit remains at Rp1 million

Allo Bank

• Maximum rate reduced to 6.50% from 7.50% previously
• Rates for smaller deposits (Rp1 million - Rp100 million) at 6% across various tenors
• Additional 1% interest for first-time deposits

Super Bank Indonesia

• Offers 7.50% for deposits between Rp500,000 to Rp1 billion across various tenors
• Lower rate of 6.00% for 7 and 14-day tenors
• Minimum deposit Rp500,000

SeaBank

• Offers up to 5.00% for large deposits above Rp100 billion
• Different rates for individual and non-individual deposits
• Minimum opening deposit Rp1 million

Krom Bank Indonesia (BBSI)

• Offers up to 7.75% for Krom Flex and 8.25% for Krom Max
• Increased maximum deposit limit to Rp10 billion per customer
• Various tenor options from 14 days to 12 months

Bank Amar Indonesia (AMAR)

• Offers rates between 5.75% to 9% depending on tenor
• Highest rate of 9% for 36-month tenor
• Minimum deposit Rp100,000

Market Implications

The adjustments in deposit rates across digital banks reflect the competitive landscape of Indonesia's digital banking sector. While BI maintained its policy rate, the changes in deposit rates indicate how banks are responding to market conditions and customer needs. The variations in rates offered by different banks provide customers with multiple options for managing their savings.