BNI ups deposit rates

BNI ups deposit rates

JAKARTA (JP): State-owned Bank BNI will raise its short-term rupiah deposit rates today by a range of 0.5 to 1.25 points.

Muchlis Harun, a director of Bank BNI, announced on Saturday that the interest rates on both one-month and three-month deposits will be raised by 1.25 points to a level of 11.5 percent per annum.

The rates on the bank's six-month and 12-month deposits will increase by 0.5 point to a level of 13 percent per year, Harun said.

BNI now has the same short-term deposit rates as other state- owned banks.

The rates of the state banks remain lower than those offered by most private commercial banks.

Private banks offer interest rates ranging from 13.50 percent to 14 percent per annum for their one-month and three-month deposits. Their six-month and twelve-month deposit rates are set at a range between 13 percent and 15 percent per year. (hdj)