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Dana Siaga
Simulation & How Dana Siaga Installments Are Calculated
How does Dana Siaga work?
If you haven’t been able to settle your Dana Siaga usage by the end of the month, your bill will automatically be converted into installments based on the tenor you selected during activation (3, 6, or 12 months). This feature helps lighten your payments because you only need to pay the same installment amount every month until it is fully paid off.
Example of Dana Siaga payment scheme:
- You use Dana Siaga on January 5, 2025
- You chose a 6-month automatic installment tenor during activation
- You haven't settled the payment by January 31, 2025, at 10:00 PM WIB
Therefore:
- The usage is automatically converted into installments starting February 1, 2025
- The next installments are paid every 1st of the month, until July 2025
- The installment amount remains fixed every month to make it easier for you to manage your finances
How to check the installment simulation in the Jago app?
- Open the Jago app
- On the Home page, find Loan menu, then tap Dana Siaga
- Follow the activation process and agree to the Dana Siaga Terms & Conditions
- After that, enter the Payment Setting page to see the installment simulation
How is the interest for Dana Siaga usage calculated when it becomes an installment?
In the Jago app, you will see a flat monthly interest (for example, 1.5%) as an initial overview. Your monthly installment is actually calculated using the effective annuity interest method, so the monthly installment amount will be adjusted to be more accurate and fair. You can see the exact amount directly in the Payment Schedule section.
Example:
- Flat interest in the app: 1.5% per month
- Tenor: 4 months
- Usage amount: Rp10 million
The customer can estimate the monthly installment as follows: = (Rp10 million / 4 months) + (Rp10 million x 1.5%) = Rp2.65 million
Jago will use an equivalent effective interest rate, in this example 28.47% per year, to produce a similar monthly installment amount.
You can see the full details of the effective interest calculation in the confirmation email after using Dana Siaga.
Tips: The installment interest will appear immediately when you select a tenor in the app. This tenor cannot be changed after activation, so make sure you choose the one that is most comfortable and fits your financial capacity.
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