Prabowo to Launch People's Credit with Maximum Interest of 5% per Year

President Prabowo Subianto has stated that he has instructed state-owned banks to provide a People’s Credit programme with a maximum interest rate of 5% for a one-year term. The directive was conveyed by Prabowo while attending the culmination of International Workers’ Day celebrations at Monas in Central Jakarta on Friday (1/5/2026). Initially, the head of state assessed that interest rates on small people’s loans were excessively high. “For a long time, small people borrowing money face insanely high interest rates. Right? Small people borrowing money can face up to 70% interest per year. Right?” said Prabowo. “I have already instructed the banks owned by the Republic of Indonesia; soon we will disburse credit for the people at a maximum, maximum of 5% per year,” he continued.