ST016 Coupon Simulation: Investing Rp 10 Million Yields This Much Passive Income

The government is once again offering a Sharia-compliant retail investment instrument through the ST016 Savings Sukuk series. According to the official website of the Ministry of Finance, on Monday (11/5/2026), this retail State Securities (SBN) product will be available from 8 May 2026 to 3 June 2026, with two tenor options: ST016T2 and ST016T4. Both series offer floating coupons with a minimum rate or floating with floor. The government has set a minimum purchase for ST016 at Rp 1 million and multiples thereof. For ST016T2, the maximum order is Rp 5 billion, while for ST016T4 it is Rp 10 billion. Based on information from the Directorate General of Financing and Risk Management (DJPPR) of the Ministry of Finance, the first coupon payment will be made on 10 July 2026. ST016 coupons are paid monthly and directly transferred to the investor’s account. This instrument is one of the popular investment choices because it offers monthly passive income with relatively low risk. In addition to being guaranteed by the state, ST016 coupons are also subject to lower taxes compared to deposits. The floating with floor scheme used in ST016 allows the coupon rate to increase if the Bank Indonesia reference rate (BI Rate) rises. “With this scheme, the coupon can increase following the rise in the reference interest rate, but it will not fall below the established minimum limit,” stated the Ministry of Finance. So, how much potential monthly income can investors obtain from ST016? Here is the coupon simulation for ST016 for each tenor. ST016T2 offers a minimum coupon of 6.05% per year. Coupons are paid monthly with a 10% tax.