Indonesia financial literacy reaches 69.57% amid sector inclusion gaps

The 2026 National Survey of Financial Literacy and Inclusion (SNLIK) shows Indonesia's national financial literacy index has risen to 69.57%, surpassing the 2025–2029 RPJMN target of 69.35%. While overall literacy is improving, significant gaps remain between literacy and actual inclusion across various financial sectors.

In the pension fund sector, literacy stands at 22.21% while inclusion is only 5.10%. The Indonesian Pension Fund Association (ADPI) attributes this to limited outreach beyond existing members and low public interest. Similarly, the fintech P2P lending sector shows a literacy rate of 24.75% against an inclusion rate of 5.19%, which the Indonesian Fintech Funding Association (AFPI) explains as a result of strict credit selection processes.

The insurance sector faces a similar disparity, with 42.84% literacy compared to 29.55% inclusion. Asuransi Asei Indonesia notes that challenges include public perception of insurance as an expense rather than risk management, product complexity, and affordability concerns.

Separately, the banking industry is facing tightening liquidity. The loan-to-deposit ratio (LDR) for the industry rose to 88.32% in June 2026. Major institutions like Bank Mandiri reported an LDR of 94.76% as of July 2026, driven by credit growth outpacing third-party fund growth.