Indonesian Digital Banks Adjust Deposit Rates Amidst BI Rate Stability

Competitive Landscape in Digital Banking

Despite Bank Indonesia maintaining the BI-Rate at 4.75% in their latest monetary policy meeting on November 18-19, 2025, several Indonesian digital banks have made significant adjustments to their deposit interest rates. This move reflects the intense competition in the digital banking sector as institutions strive to attract deposits in a challenging economic environment.

Major Digital Banks' Deposit Rate Adjustments

1. PT Bank Jago Tbk. (ARTO): Offers competitive deposit rates ranging from 5.00% to 6.25% per annum. For deposits above Rp1 billion, the rate stands at 6.25% for 1 and 3-month tenors.
2. PT Allo Bank Indonesia Tbk. (BBHI): Provides a consistent 5.5% interest rate for deposits starting from Rp1 million, applicable across various tenors from 1 to 24 months.
3. PT Bank Raya Indonesia Tbk. (AGRO): Offers rates between 4.00% and 6.00% per annum through their 'Saku Jaga Optimal' product. The highest rate of 6.00% is available for a 24-month tenor.
4. PT Bank Seabank Indonesia: Offers deposit rates ranging from 0.00% to 5.00% per annum, with the highest rate applicable to deposits above Rp100 billion for 6 and 12-month tenors.
5. PT Bank Neo Commerce Tbk. (BBYB): Maintains deposit rates between 5.00% and 7.50% per annum for their 'Deposito WOW' product.
6. PT Krom Bank Indonesia Tbk. (BBSI): Offers rates between 6.50% and 8.25% per annum for their 'Krom Flex' and 'Krom Max' products.
7. PT Bank Amar Indonesia Tbk. (AMAR): Provides rates ranging from 5.75% to 9.00% per annum, with the highest rate for a 36-month tenor.

Market Implications

The adjustments in deposit rates by these digital banks indicate a competitive environment where institutions are vying for liquidity. Despite the BI-Rate remaining unchanged, the banks are responding to market conditions and customer needs by offering attractive deposit rates. This trend highlights the dynamic nature of Indonesia's digital banking landscape and the ongoing efforts by banks to balance liquidity management with competitive offerings.