GENERAL TERMS AND CONDITIONS
USD TIME DEPOSIT & SAVING ACCOUNT 2025 PROGRAM
These General Terms and Conditions of the USD Time Deposit (TD) & Savings Account (SA) 2025
Program ("General Terms and Conditions of the Program") outline the terms and conditions
applicable to participants of the USD TD & SA 2025 Program ("the Program") organized by PT
Bank Danamon Indonesia Tbk ("Bank Danamon").
By participating in the Program, participants agree to abide by the following
provisions:
The Program will run from February 03, 2025, to February 28, 2025 ("Program Period").
This Program is open only to individual customers who own Danamon LEBIH PRO or Danamon LEBIH PRO iB Savings accounts (single or joint accounts with "AND/OR") ("Program Participants").
Product |
Interest Rate |
Cashback Rewards |
Total Benefits (Equivalent) |
Time Deposit1 |
2.50% per annum |
Cashback 2.25% per annum |
4.75% per annum |
Danamon LEBIH PRO Savings In USD2 |
(in accordance with the provisions of Interest applicable to the Bank) |
Cashback 1.00% per annum (from the total average balance of Danamon LEBIH PRO USD for 3 months) |
Interest + Cashback 1.00% |
1. If the Program Participant applies for the disbursement of the USD Time Deposit before maturity, the Program Participant will not receive Interest in the value of this table. Program Participants will only receive a current interest of 0.25%, do not get a Cashback Prize, and are subject to a Penalty Fee as item III.7 below.
2. If the minimum average balance of the Danamon LEBIH PRO Savings account in USD currency is less than the specified as specified in points III.5.b.i and III.5.b.ii above, then the Program Participant will not get any Cashback Prize.
Product |
Revenue Share Ratio |
Gift |
Total Benefits (Equivalent) |
Time Deposit USD iB1 |
2.50 % per annum |
Cashback 2.25% per annum (from iB Time Deposit placement) |
4.75% per annum |
Danamon LEBIH PRO iB Savings in USD2 |
- |
MAP voucher equivalent to 2.00% (from the total average balance of Danamon LEBIH PRO iB USD for 3 months) |
Voucher 2.00% |
1. If the Program Participant applies for the disbursement of the USD Time Deposit before maturity, the Program Participant will not receive the Profit Sharing Ratio as shown in this table, but will only receive a Current Profit Sharing Ratio of 0.25%, will not get the Cashback Prize, and will be subject to the Benefit Return Fee as item III.7 below.
2. If the minimum average balance of the Danamon LEBIH PRO iB Savings account in USD currency is less than the specified as specified in points III.5.b.i and III.5.b.ii above, the Program Participant will not get the MAP Voucher Prize and any profit sharing ratio (there is no profit sharing due to Danamon LEBIH PRO iB Wadiah contract).
USD Time Deposit Placement Nominal / iB USD Sharia Deposit (in IDR or equivalent) |
Penalty Fee / Benefit Return Fee |
(nominal placement) < IDR 100 million |
IDR 75,000 / Account |
IDR 100 million ≤ (nominal placement) < IDR 1 billion |
IDR 150,000.00 / Account |
(nominal placement) ≥ IDR 1 billion |
IDR 300,000.00 / Account |
The authority granted by the Program Participant under the General Terms and Conditions of this Program is given to Bank Danamon with the right of substitution. This authority shall remain irrevocable and valid as long as the Program Participant's obligations to Bank Danamon have not been fully fulfilled. The authority will not expire or be revoked for any reason, including but not limited to the following circumstances as stated in the Civil Code: Article 1813: Termination of power of attorney due to withdrawal, notification of termination, death, incapacity, or bankruptcy of the principal or agent. Article 1814: The principal’s right to revoke the power of attorney at their discretion and, if necessary, compel the agent to return the power. Article 1816: Revocation of the first power of attorney upon the appointment of a new agent for the same matter, effective from the time the new appointment is notified. This authority is an integral part of the General Terms and Conditions of this Program.
Below is an example of a simulation related to the Program:
Program A Participants
Time Deposit Scheme
Program A participants have a Danamon LEBIH PRO Savings account with a balance
of IDR 34,000,000 (thirty-four million rupiah). They participate in the Program
by: Transferring Fresh Funds from other banks to their Danamon LEBIH PRO account
in the amount of IDR 350,000,000 (three hundred and fifty million rupiah);
Completing and signing the Program Participation Form; Conducting foreign
exchange transactions and placing USD Time Deposits with the following
details:
USD 1 = IDR 15,500
Transaction |
Date |
Transaction Value |
Fresh Fund placement by transfer from another Bank to Danamon LEBIH PRO Savings account (in IDR) |
February 03, 2025 |
IDR 350,000,000 |
Foreign exchange transactions from Danamon LEBIH PRO IDR to Danamon LEBIH PRO USD savings account through Danamon Bank branches |
February 03, 2025 |
USD 22,581 |
USD Time Deposit Placement for 1 (one) month |
February 03, 2025 |
USD 22,000 |
USD Time Deposit Maturity (Crediting of Deposit Principal and Interest 2.5%) |
March 03, 2025 |
Program Participants will receive 2.5% Interest with the following calculations. On Bilyet TD (Gross): USD 45.83 Taxes: USD 9.17 So, Program A Participants will get USD 36.67 (Nett) |
Average Balance Scheme
The Program Participant maintains the average balance of their Danamon LEBIH PRO
savings account in USD for a period of three (3) months, in accordance with the
provisions of the Average Balance Scheme, to earn interest. The details are as
follows:
Average Balance Calculation Month |
Average Balance of Danamon LEBIH PRO Savings In USD |
Interest Accrual Date |
Calculation of Interest Earnings (1% per annum of Danamon LEBIH PRO USD average balance) |
March 2025 |
22,581.00 |
April 1, 2025 |
Interest (Gross) : USD 18.82 Taxes : USD 3.76 Interest to be earned (Nett) USD 15.05. |
April 2025 |
15,000.00 |
May 1, 2025 |
Interest (Gross) : USD 12.50 Tax : USD 2.50 Interest to be earned (Nett) USD 10.00. |
May 2025 |
14,000.00 |
June 1, 2025 |
Interest (Gross) : USD 11.67 Taxes : USD 2.33 Interest to be earned (nett): USD 9.33. |
Total Interest Calculation Earned |
The total received by Program A Participants is USD 34.39 (Nett) |
Program A participants have fulfilled all the provisions of both the Time Deposit Scheme and the Average Balance Scheme. As a result, they are eligible to receive the Cashback Prize, which will be distributed five (5) months from February 15, 2025, with the following details:
Cashback Reward |
Cashback Prize Calculation |
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Cashback Reward for Time Deposit Scheme (2.25%) |
Cashback (Gross) : USD 41.25 Taxes : USD 9.17 So, the cashback that will be obtained by Program A Participants is USD 32.08 (Nett) |
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Cashback Reward for Average Balance Scheme (1.00%) |
Cashback calculation will be carried out in June 2025, with the following details:
The total that Program A Participants will get is USD 34.39 (Nett). |
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Total Cashback Prize |
The total cashback prize (Nett) of USD 66.47 will be credited to the Danamon LEBIH PRO USD Program Participant's account in June 2025 |
Program B Participants
Time Deposit Scheme
Program B participants have a Danamon LEBIH PRO Savings account with an IDR
balance of IDR 10,000,000 (ten million rupiah) and a USD balance of USD 10,000.
They participate in the Program by: Transferring Fresh Funds from other banks to
their Danamon LEBIH PRO account in the amount of IDR 350,000,000 (three hundred
and fifty million rupiah); Completing and signing the Program Participation
Form; and Conducting foreign exchange transactions and placing USD Time Deposits
with the following details:
USD 1 = IDR 15,500
Transaction |
Date |
Transaction Value |
Fresh Fund placement by transfer from another Bank to Danamon LEBIH PRO Savings account (IDR currency) |
February 03, 2025 |
IDR 350,000,000 |
Foreign exchange transactions from Danamon LEBIH PRO IDR to Danamon LEBIH PRO USD savings account through Danamon Bank branches |
February 03, 2025 |
USD 22,581 |
USD Time Deposit Placement for 1 (one) month |
February 03, 2025 |
USD 20,000 |
USD Time Deposit Maturity (Crediting of Deposit Principal and Interest 2.5%) |
March 03, 2025 |
Program Participants will receive 2.5% Interest with the following calculations. On Bilyet TD (Gross) : USD 41.67 Taxes: USD 8.33 So, Program A Participants will get USD 33.33 (Nett) |
Average Balance Scheme
If the Program Participant fails to maintain the average balance of their
Danamon LEBIH PRO savings account in USD for three (3) months, as required by
the provisions of the Average Balance Scheme, the interest earned by the Program
B Participant will be as follows:
Average Balance Calculation Month |
Average Balance of Danamon Savings LEBIH PRO in USD |
Interest Accrual Date |
Interest Earning Calculation (USD) |
March 2025 |
6,000 |
April 1, 2025 |
Interest (Gross) : USD 1.25 Taxes : USD 0.25 Interest to be earned (Nett): USD 1.00 |
April 2025 |
4,000 |
May 1, 2025 |
Interest (Gross): USD 0.83 Taxes: USD 0.17 Interest to be earned (nett): USD 0.67 |
May 2025 |
4,000 |
June 1, 2025 |
Interest (Gross): USD 0.83 Taxes: USD 0.17 Interest to be earned (nett): USD 0.67 |
Total Interest Calculation Earned |
The total received by Program A Participants (Nett) of USD 2.33 is only equal to the interest rate of Danamon LEBIH PRO Savings at 0.25% because they did not manage to maintain the average balance for 3 months. |
Program B participants do not meet all the provisions of both the Time Deposit
Scheme and the Average Balance Scheme. As a result, they are not eligible to
receive the Cashback Prize.
Program C Participants
Time Deposit Scheme
Program C participants have a Danamon LEBIH PRO Savings account with a balance
of IDR 10,000,000 (ten million rupiah). They participate in the Program by:
Transferring Fresh Funds from other banks to their Danamon LEBIH PRO account in
the amount of IDR 350,000,000 (three hundred and fifty million rupiah);
Completing and signing the Program Participation Form; and Conducting foreign
exchange transactions and placing USD Time Deposits with the following
details:
USD 1 = IDR 15.500.00
Transaction |
Date |
Transaction Value |
Fresh Fund placement by transfer from another Bank to Danamon LEBIH PRO Savings account in IDR |
February 03, 2025 |
IDR 350,000,000 |
Foreign exchange transactions from Danamon LEBIH PRO IDR to Danamon LEBIH PRO USD savings account through Danamon Bank branches |
February 03, 2025 |
USD 22,581 |
USD Time Deposit Placement for 1 (one) month |
February 03, 2025 |
USD 20,000 |
Program participants cancel their participation and withdraw USD Time Deposits before the maturity date |
March 03, 2025 |
Program participants will receive a counter rate interest of 0.25% with the following calculations. Counter Rate (Gross): USD 4.17 Taxes: USD 0.83 So, Program A (Nett) Participants will get USD 3.33.
Customers must pay a penalty fee of IDR 150,000 for the disbursement of USD Time Deposit before maturity. |
Average Balance Scheme
Program C participants are not eligible to participate in the Average Balance
Scheme as they have canceled their enrollment in this program. Consequently,
they will not receive the Cashback Prize.
The following is an example of a
simulation related to the program.
Customer A
Time Deposit Scheme
Customer A has a Danamon LEBIH PRO iB Savings account with a balance of IDR
34,000,000 (thirty-four million rupiah). Customer A participates in the Program
by: Transferring Fresh Funds from other banks to their Danamon LEBIH PRO iB
account in the amount of IDR 350,000,000 (three hundred and fifty million
rupiah); Completing and signing the Program Participation Form; and Conducting
foreign exchange transactions and placing iB USD Sharia Deposits with the
following details:
USD 1 = IDR 15,500
Transaction |
Date |
Transaction Value |
Fresh Fund placement by transfer from another Bank to Danamon LEBIH PRO iB Savings account (IDR currency) |
February 03, 2025 |
IDR 350,000,000 |
Foreign exchange transactions from Danamon LEBIH PRO IDR to Danamon LEBIH PRO iB savings account USD through Bank Danamon branches |
February 03, 2025 |
USD 22,581 |
iB USD Sharia Deposit Placement for 1 (one) month |
February 03, 2025 |
USD 22,000 |
Maturity of iB USD Sharia Deposit (Principal Crediting of Deposit and Profit Share at 2.5%) |
March 03, 2025 |
Program participants will receive a 2.5% Profit Share with the following calculations. On Bilyet TD (Gross): USD 45.83 Taxes: USD 9.17 So, Program A (Nett) Participants will get USD 36.67. |
Average Balance Scheme
Furthermore, Program Participants maintain the average balance of Danamon LEBIH
PRO iB savings in USD for 3 (three) months in accordance with the provisions of
the Average Balance Scheme (both schemes, not just one) so as to obtain Cashback
Prizes which will be given for 5 (five) months starting from February 15, 2025,
with the following details:
Average Balance Calculation Month |
Average Balance of Danamon LEBIH PRO Saving iB in USD |
Profit Sharing Date |
Calculation of Profit Share (USD) |
March 2025 |
22,581 |
April 1, 2025 |
- |
April 2025 |
15,000 |
May 1, 2025 |
- |
May 2025 |
14,000 |
June 1, 2025 |
- |
Total Profit Share Calculation Obtained |
The total received by Program A Participants is USD 0, because Danamon LEBIH PRO iB does not have a profit share (0%) because the contract is Wadiah. |
Gift |
Cashback Prize Calculation |
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Cashback Rewards for Time Deposit Scheme (2.25%) |
Cashback (Gross): USD 41.25 Taxes: USD 9.17 So, the cashback that Program A Participants will get is USD 32.08. |
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Profit Sharing |
Customers do not get profit sharing because Danamon LEBIH PRO iB has a Wadiah (deposit) contract, so the profit share is 0%. |
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Voucher Reward for Average Balance Scheme (2.00%) |
The calculation of the Voucher will be carried out in June 2025, the details are as follows.
The total that Program A participants will earn is USD 68.8 |
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Total Cashback Prize |
The total prize of the Voucher is USD 68.8 or equivalent to IDR 1,066,400. The voucher received by the customer is IDR 1,050,000 (voucher in multiples of IDR 50,000 in denomination) and will be sent to the customer in June 2025 |
Program B
Participants
Time Deposit Scheme
Program B participants have a Danamon LEBIH iB Savings Account with a balance of
IDR 10,000,000 (ten million rupiah) and a USD balance of USD 10,000. They
participate in the Program by transferring Fresh Funds from other banks to
Danamon LEBIH iB in the amount of IDR 350,000,000 (three hundred and fifty
million rupiah), completing and signing the Program Participation Form, making
foreign exchange transactions, and placing iB USD Sharia Deposits with the
following details:
USD 1 = IDR 15,500
Transaction |
Date |
Transaction Value |
Fresh Fund placement by transfer from another Bank to Danamon LEBIH PRO iB Savings account in IDR |
February 03, 2025 |
IDR 350,000,000 |
Foreign exchange transactions from Danamon LEBIH PRO iB IDR currency savings account to Danamon LEBIH PRO iB in USD via Bank Danamon branches |
February 03, 2025 |
USD 22,581 |
iB USD Sharia Deposit Placement for 1 (one) month |
February 03, 2025 |
USD 20,000 |
Maturity of iB USD Sharia Deposit (Principal Crediting of Deposit and Interest 2.5%) |
March 03, 2025 |
Program participants will receive a 2.5% Profit Share with the following calculations. On Bilyet TD (Gross): USD 41.67 Taxes: USD 8.33 So, Program A Participants will get USD 33.33 (Nett) |
Average Balance Scheme
Furthermore, the Program Participant fails to maintain the average balance of
their Danamon LEBIH PRO savings in USD currency for 3 (three) months, as
required by the provisions of the Average Balance Scheme. Consequently, the
interest earned by the Program B Participant is as follows:
Average Balance Calculation Month |
Average Balance of Danamon LEBIH PRO Savings iB in USD |
Interest Accrual Date |
Interest Earning Calculation (USD) |
March 2025 |
6,000 |
April 1, 2025 |
- |
April 2025 |
4,000 |
May 1, 2025 |
- |
May 2025 |
4,000 |
June 1, 2025 |
- |
Total Interest Calculation Earned |
The total received by Program A Participants is USD 0, because Danamon LEBIH PRO iB does not offer a profit share (0%) as the contract is Wadiah. Customers who do not maintain an average balance for 3 consecutive months, they will no eligible to getting a prize in the form of a voucher. |
Program B participants do not meet all the provisions of the Time Deposit Scheme
and the Average Balance Scheme; therefore, they do not receive the Voucher
Prize.
Program C
Participants
Time Deposit Scheme
Program C participants have Danamon LEBIH PRO iB Savings with a balance of IDR
10,000,000 (ten million rupiah). Program C participants participate in the
Program by transferring Fresh Funds from other banks to Danamon LEBIH PRO iB in
the amount of IDR 350,000,000 (three hundred and fifty million rupiah), filling
out and signing the Program Participation Form, as well as making foreign
exchange transactions and placing iB USD Sharia Deposits with the following
details:
USD 1 = IDR 15,500
Transaction |
Date |
Transaction Value |
Fresh Fund placement by transfer from another Bank to Danamon LEBIH PRO iB Savings account in IDR |
February 03, 2025 |
IDR 350,000,000 |
Foreign exchange transactions from Danamon LEBIH PRO iB savings account in IDR to Danamon LEBIH PRO iB USD via Bank Danamon branches |
February 03, 2025 |
USD 22,581 |
iB USD Sharia Deposit Placement for 1 (one) month |
February 03, 2025 |
USD 20,000 |
Program participants cancel their participation and withdraw their iB USD Sharia Deposit before the maturity date |
March 03, 2025 |
Program participants will get a counter rate profit share of 0.25% with the following calculations: Counter Rate (Gross): USD 4.17 Taxes: USD 0.83 So, Program A Participants will get USD 3.33 (Nett)
Customers must pay a benefit return fee of IDR 150,000 for the disbursement of iB USD Sharia Deposit before maturity. |
Average Balance Scheme
Program C participants are not eligible to participate in the Average Balance
Scheme because they have opted out of the program. Consequently, they will not
receive Cashback Rewards from the Time Deposit Scheme.
NOTICE
Program Participants are advised to be cautious of fraud committed by individuals claiming to represent Bank Danamon and offering prizes in any form. Any fraudulent or criminal activities conducted by third parties, whether related to or on behalf of the Program, are not the responsibility of Bank Danamon.