Interest Deposit

[kroshka]

What is the best interest rate for deposit - 30 days

I used to use CIMB where you could extend - or give instructions by phone, but they changed the system so that you now need to go to the branch to make a new deposit. Do any banks offer this kind of bank business by phone or internet banking?

 

[snpark]

Most of them, inc BCA, HSBC etc
But the rates are terrible even for 30 days, 90days etc, sometimes you even get higher rates for the shorter term

Trying looking at Govt bonds, you can get them through HSBC, I was getting as much as 8.75% a year, if you need to withdraw, you just lose the interest on that quarter

But for only 30 days there is not much about really

 

[kroshka]

I used to get 5.75% for one month in CIMB

 

[Smallworld]

What is the best interest rate for deposit - 30 days

...

6.1% per month as of January 2018. For 30 days. Deposit has to be in rupiah.

 

[snpark]

To clarify, I don't think kroshka means 5.75% for a month, he means 5.75% per year for 1 month deposit meaning about 0.5% a month
Likewise no bank pays 6.1% per month, its 6.1%p.a for a 30 day term deposit

 

[kroshka]

Yes I mean p.a.

Smallworld, in which bank do you get 6.1% per year?

 

[kroshka]

Thanks Brian.. but according to your experience what would then be the interest rate, the suitable level of fund.. and which bank?

 

[brian@bekasi]

The amount of interest you receive on Term deposits depends on the bank, the amount and the relationship that you have with the bank. Under the guarantee system in Indonesia the maximum rate of interest is set by Central government and then banks set their own rates up to that limit. Different rates are set for major /city bank and regional banks.

Government bonds are not an option for short term deposits as the value of the bond is market based. Your capital is guaranteed but only if the deposit remains until the bond maturity date. Some 20-30 years in most cases.

You can do all your transactions without entering a bank ( I do ) but you must have a relationship with the bank and suitable level of funds invested.

 

[steveandpenny]

What' the going Interest rate should I expect when I loan 500,000 to person down the street so he can take his kid to the doctor (or it might have been the movies not sure which)

 

[brian@bekasi]

Thanks Brian.. but according to your experience what would then be the interest rate, the suitable level of fund.. and which bank?

Simply you get more interest if you have enough money to invest and establish a "Premier" type account . Normally you require 500,0000,000 to 1 billion IDR depending on the bank. 6 % is a good rate at present and I get that on some money. I use BNI because I have a good relationship manager but it is a personal decission based on relationship.

It is worth noting that "new" money invested attracts a better rate than money rolled over.

My view is that investment in regional bank is a good strategy if you intend to invest for longer period. Remember the guarantee limit is 2 billion IDR per bank.

 

[brian@bekasi]

What' the going Interest rate should I expect when I loan 500,000 to person down the street so he can take his kid to the doctor (or it might have been the movies not sure which)

You will get love and respect which is the best interest rate of all.

 

[Bikerbule]

Niaga has an automatic roll over facility and you can make a new deposito through online banking.
It is currently 5.7%

 

[dafluff]

Don't forget to check with LPS (Indonesian Deposit Insurance), as they set the maximum allowed interest rates. So you have an idea whether the rate you are getting is good or not: http://www.lps.go.id/#

Currently regular banks are allowed to give 5.75% and rural banks (BPR) 8.25%.

Some banks also provide incentive beyond the interest, such as gold bullion or gift cards etc. They do this to effectively pay higher interest rates than the allowed. In the past LPS has refused to insure losses for such cases, so proceed with caution.

 

[kroshka]

Well I understand that there is a new law per January 10th or so. That expats cannot just do desposito online, and you actually need to go to a branch.. where then for some reason the interest in lower. For instance 4.25 % in CIMB and BNI.. where as if one could do by internet banking it would be 5.75%

 

[Davita]

Well I understand that there is a new law per January 10th or so. That expats cannot just do desposito online, and you actually need to go to a branch.. where then for some reason the interest in lower. For instance 4.25 % in CIMB and BNI.. where as if one could do by internet banking it would be 5.75%

Do you have anything on this new law as I've been directing my FD's online, but not lately as they haven't matured, and I normally just roll-over.

 

[kroshka]

no i dont have anything on this in writing.. but this is what for instance cimb says, where i normally just could roll over by phone.. but now cannot anymore

 

[snpark]

What' the going Interest rate should I expect when I loan 500,000 to person down the street so he can take his kid to the doctor (or it might have been the movies not sure which)

Just be thankful if you get it back at all !

 

[atlantis]

You would get 8,25% in most BPR.

 

[El_Goretto]

@kroshka, jenius by BTPN lets you get 5.75% for 1 month deposit. It's all online, even to open an account (someone will visit you within hours of registering online).

There's another saving account where you can deposit and withdraw as much as you want any time you want, that gives 5%.

1 caveat: I don't believe they will let you have it in your name as a foreigner. But under your local spouse, no problem.

You'll also get a visa debit card with a 100jt daily limit that works all over the world.

To start, download the jenius app on your phone.

 

[kroshka]

Well El_Goretto, then I need to get married first.. and I guess that eats up the difference in %