REPUBLIKA.CO.ID, JAKARTA -- Bank Indonesia (BI) recorded that banks still increased the deposit rates in April 2014, followed by an increase in mortgage interest rate.

Executive Director of Communication Department in BI, Tirta Segara said that the time deposit interest rates of 1, 3, 6 and 12 months are recorded at level of 8.1, 8.35, 8.4 and 7.8 percent respectively in April 2014. The figure increased from 7.98, 8.27, 8.24 and 7.41 percent in same period last year.

Deposit growth in third party funds increased 11 percent year on year (yoy) worth 3,957.1 billion IDR per April 2014.

"Deposit growth occurred in time deposit and clearing account (giro)," Segara said recently.

BI recorded that time deposit grew 14.1 percent yoy worth 1,630.8 billion IDR, while the demand grew 6.6 percent worth 792.1 trillion IDR.  Savings could grow 10 percent yoy at 1,174.2 billion IDR. The increase in funds rates were accompanied by an increase in lending rate from 12.57 percent in March 2014 to 12.6 percent in April 2014.

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