Product Information

The Government of the Republic of Indonesia is pleased to announce the issuance of Retail Government Bonds series ST016-T2 and ST016-T4, available during the offering period from 8 May – 3 Jun 2026.

ST016 is a government-issued bond designed exclusively for individual Indonesian citizens, offering a secure, accessible, and affordable investment opportunity that can be conveniently purchased online through D-Bank PRO. Issued under the theme “Pilihan Berharga, Untuk Langkah Aman Hari Depan” ST016 provides attractive returns while enabling citizens to contribute to the national budget (APBN) and support Indonesia’s economic development.

The coupon is Fixed Coupon and paid monthly until maturity. There are two series based on tenor:

  • ST016-T2: 2-year tenor
  • ST016-T4: 4-year tenor

Product Description

Product Detail
Series ST016 - T2 ST016 - T4
Offering Period 8 May – 3 June 2026
Settlement Date 10 June 2025
Maturity Date 10 June 2028 10 May 2030
Minimum Order IDR 1,000,000
Order Increment IDR 1,000,000
Maximum Order per Customer IDR 5,000,000,000 IDR 10,000,000,000
Coupon Type Floating with Floor
Coupon Rate 6,05% gross per annum 
(BI rate + 130 bps)		 6,25% gross per annum 
(BI rate + 150 bps)
First Coupon Payment Date 10 July 2026 (Normal coupon*)
Coupon Payment Frequency Monthly on the 10th
Primary Market Price At Par – 100
Tradability Non Tradable
Customers Criteria Individual Indonesian Citizens
Order Method Online via D-Bank PRO
Early Redemption Period 26 May - 3 June 2027 26 Apr - 3 May 2028
*Normal coupon indicates that the first coupon payment covers 1 month period coupon

 

Product Information Memorandum can be accessed on link below:

Program Cashback ST016

Program Mechanism
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  1. Customers eligible for cashback rewards are those who purchase ST016 IPO during the program period with a minimum placement as specified on terms and conditions.
  2. Customers must read and agree to the terms and conditions of the transaction and the Ministry of Finance’s Product Information Memorandum. By agreeing to the program terms and conditions on D-Bank PRO, customers confirm their participation.
  3. Orders must be placed online via D-Bank PRO and marked as “completed order” (payment confirmed).

Reward Program Conditions
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  1. Cashback Reward Program for ST016 IPO

    1. Customers who are eligible to receive cashback rewards are those who make purchases of ST016 IPO with a minimum transaction amount of IDR 500,000,000 (five hundred million Rupiah) per transaction via D-Bank PRO during the program period.
    2. Furthermore, customers may receive both cashback and additional cashback if they meet the following conditions:
      Amount Transaction Cashback Additional Cashback
      Early Bird
      Minimum IDR 500,000,000 with
      IDR 500,000,000 increment       		0.10% of the transaction amount 0.05% of the transaction amount
    3. Customers eligible to receive additional cashback rewards are those who make ST016 IPO purchases under Early Bird Scheme: Purchases made during the Early Bird period, from 8 – 15 May 2026.
    4. Illustration of the ST016 IPO Cashback Program – Early Bird & Regular Period.
      During the program period, customers made the following ST016 IPO purchase transactions:
      Transaction
      Date      		 ST016 IPO Purchase
      Amount      		 Cashback Reward Remarks
      8 May 2026 IDR 800,000,000 IDR 500,000,000 x 0.15% = IDR 750,000 Early Bird Period
      9 May 2026 IDR 100,000,000 - No cashback rewarded as the purchase amount did not meet the minimum transaction requirement
      16 May 2026 IDR 750,000,000 IDR 500,000,000 x 0.1% = IDR 500,000 Regular Period
      Total Reward IDR 1,250,000

      Based on the illustration above, the customer received cashback reward of IDR 1,250,000 (one million two hundred fifty thousand Rupiah).

  2. ST016 IPO Cross-Sell Program

    1. Customers eligible for the Cross-Sell Program are those who have made ST016 IPO purchases totaling a minimum of IDR 1,000,000,000 (one billion Rupiah) during the program period, and who also invest in qualifying cross-sell products, as detailed below:
      ST016 IPO Purchase
      Minimum Amount      		 Cross-Sell Product Minimum Transaction
      Amount      		 Additional Cashback
      per Product
      ≥ IDR 1,000,000,000 Mutual Funds ≥IDR IDR 200,000,000 IDR 1,000,000
      Secondary Bonds ≥IDR 200,000,000
      Foreign Exchange (FX) ≥USD 20,000
      DCI According to the product’s ticket size
      1. Customers are entitled to receive additional cashback rewards for investments in Cross-Sell products, with a maximum of four (4) eligible investment products (Mutual Funds, Secondary Bonds, FX, or DCI) during the program period.
      2. The minimum purchase amount for each Cross-Sell product must be fulfilled in a single transaction. Accumulated transactions do not qualify.
      3. If the Cross-Sell investment is made in a foreign currency, the minimum transaction amount will be calculated using the exchange rate applicable in Bank Danamon’s system at the time of the transaction.
      4. Terms and conditions apply to the purchase of Cross-Sell products, as outlined in the respective product guidelines as below table:
        Product Type Conditions
        Mutual Funds
        1. Transactions must incur a minimum fee of 1%.
        2. Excludes: (i) money market mutual funds and (ii) Danamon Regular Investment Plan (DRIP).
        Secondary Bonds
        1. Transactions must incur a minimum fee of 1%.
        2. Excludes purchases of retail bonds in the primary market.
        Foreign Exchange (FX) Minimum investment amount is calculated using the prevailing exchange rate in Bank Danamon’s system at the time of transaction.
        Dual Currency Investment

        Transactions must have a minimum total tenor of 1 month (30 days), and placements can be made throughout the IPO offering period until 3 July 2026.

        Case 1:

        1. An initial placement of USD 30,000 is made on 8 May 2026 with a tenor of 2 weeks, maturing on 22 May 2026.
        2. The matured funds are re placed on 25 May 2026 with a maturity date 10 Jun 2026.
        3. The customer is eligible to receive the cashback reward because the total tenor of the placements is 1 month.

        Case 2:

        1. An initial placement of USD 30,000 is made on 8 May 2026 with a tenor of 2 weeks, maturing on 22 May 2026.
        2. The matured funds are re placed on 22 Jun 2026 with a maturity date of 6 July 2026.
        3. The customer is not eligible to receive the cashback reward because the second placement is made after 3 July 2026.

    2. Illustration of the ST016 IPO Cashback Program – Cross-Sell Scheme.
      A customer makes an ST016 IPO purchase of IDR 1,000,000,000 (one billion Rupiah) and invests in eligible Cross-Sell products in accordance with the program terms and conditions:

      Case IPO Transaction Cross Sell Transaction Cashback Reward
      Period Amount Cross Sell
      Product
      		 Minimum Cross-Sell
      per Product      		 IPO Cross Sell Total
      1 Early Bird IDR 1,000,000,000 1 Cross Sell Product
      • Mutual Funds ≥ Rp 200.000.000
      • Secondary Bonds ≥ Rp 200.000.000
      • FX ≥ USD20.000
      • DCI: Sesuai ticket size produk
      		IDR 1,500,000 IDR 1,000,000 IDR 2,500,000
      2 Early Bird IDR 1,000,000,000 2 Cross Sell Product IDR 1,500,000 IDR 2,000,000 IDR 3,500,000
      3 Early Bird IDR 1,000,000,000 3 Cross Sell Product IDR 1,500,000 IDR 3,000,000 IDR 4,500,000
      4 Early Bird IDR 1,000,000,000 4 Cross Sell Product IDR 1,500,000 IDR 4,000,000 IDR 5,500,000
      5 Non-Early Bird IDR 1,000,000,000 1 Cross Sell Product IDR 1,500,000 IDR 1,000,000 IDR 2,000,000
      6 Non-Early Bird IDR 1,000,000,000 2 Cross Sell Product IDR 1,500,000 IDR 2,000,000 IDR 3,000,000
      7 Non-Early Bird IDR 1,000,000,000 3 Cross Sell Product IDR 1,500,000 IDR 3,000,000 IDR 4,000,000
      8 Non-Early Bird IDR 1,000,000,000 4 Cross Sell Product IDR 1,500,000 IDR 4,000,000 IDR 5,000,000

  3. Other Terms and Conditions

    1. Customers cannot claim rewards from more than one program for the same transaction.
      Example: If a customer participates in both the NTB Privilege 2026 and the ST016 IPO Program, the cashback reward will only be credited for the program offering the higher cashback value.
    2. Cashback rewards will be credited to the account used by the customer to purchase ST016.
    3. Customers are fully responsible for any applicable tax obligations related to the cashback received, in accordance with prevailing tax regulations in Indonesia.
    4. Cashback will be disbursed no later than 45 business days after the settlement of ST016, based on the schedule provided by the Ministry of Finance and subject to successful transaction completion and recording in Bank Danamon’s system.

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