Busposito is a deposit product in Bank Saqu App. The product offers an interest rate based on the number of people who join.

What is Busposito?

Deposito Reguler and Busposito are both deposit products from the Bank Saqu App. The difference between Deposito Reguler and Busposito lies in the opening process, interest, and renewal method.With Deposito Reguler, you may open a deposit account at any time through the app and easily determine extension period when the deposit period ends.As for Busposito, you can join if there's any Busposito available on the app, either the maximum number of participants has not reached yet or the waiting period has ended. The applicable interest will be based on the number of customers in the same Busposito. Currently, there is no extension option for Busposito product.

What's the difference between Deposito Reguler and Busposito?

Of course. You can create Busposito even though you already have a Deposito Reguler and vice versa.

If I have a Deposito Reguler, can I join  Busposito?

Steps to open Busposito in Bank Saqu App:<ol><li>Choose one of the methods below:<ul><li>Click the "Saku" icon in the navigation menu at the bottom of the main page or Home page, then click the "Busposito" icon</li><li>Click the "Busposito" icon in the "Saku Saya" sub-menu</li></ul></li><li>Select the available Busposito.</li><li>Click the “&gt;” icon to view Busposito products in more detail.</li><li>Click “Bergabung”</li><li>Select Pocket for the source of funds</li><li>Enter the opening fund amount</li><li>Check Busposito details</li><li>Read and agree to the Terms and Conditions</li><li>Wait for confirmation that Busposito has opened successfully</li></ol>

How to open a Busposito account?

You can use Saku Utama, Saku Transaksi or Saku Nabung as a source of funds for Busposito.

What pockets can be used as the source of funds for Busposito?

Don't worry. Opening Busposito is free of charge.

Is there a fee for opening Busposito?

Busposito is available any time in Bank Saqu App. In addition, you can regularly check Bank Saqu App to check Busposito's availability.

When is Busposito available in Bank Saqu App?

The minimum and maximum number of participants for Busposito can vary between different Busposito.

What is the minimum/maximum participant limit for Busposito?

Busposito starts after the waiting period specified in the Bank Saqu App ends or after the maximum number of participants specified in the Saqu Bank Application has been reached (whichever comes first).

When will Busposito start?

The Busposito waiting period is when customers can join and place fund in Busposito. Customers can view the end date of the waiting period for each Busposito in the Bank Saqu app.Example 1<ul><li>The end date of the Busposito waiting period stated on the application is 27 November 2022. Maximum participant of Busposito is 100 participants.</li><li>Until the waiting period ends on November 27 2022, there are only 70 participants (not reaching the maximum number of participants). Then Busposito will start on November 27, 2022.</li></ul>Example 2<ul><li>The listed Busposito waiting period is 17th February 2023, with a maximum limit of 100 participants.</li><li>On 15th February 2023,&nbsp; the number of participants reached 100. So, Busposito will start on 15th February 2023 because the maximum limit has been reached.</li></ul>

What is the Busposito waiting period?

The Busposito placement period is calculated from the Busposito start date until one day before the maturity date. You can see the start and maturity date in the Busposito Details after joining Busposito in Bank Saqu App

How to count my Busposito placement days?

Busposito's start date is the same as the end of the waiting period or after the maximum number of Busposito participants has been reached. While the expiration date is the day on which Busposito's term ends (maturity).

What are the start and end dates for Busposito?

Busposito interest is calculated by the number of days between start and end dates (end day is excluded), divided by 365 or 366 (leap year)The agreed interest rate with the bank will be paid out as directed by the customer after taxes are deducted according to relevant regulations.Calculation Simulation (1 year = 365 days)Interest = Principal Amount x Interest Rate x (Number of Days Passed/365)Busposito-123 is a product with one month period. Therefore, the interest rate for this product depends on the number of participants.<ul><li>If there are 1 to 5 participants, the interest rate will be 4%.</li><li>If there are 6 to 9 participants, the interest rate will be 5%.</li><li>If there are 10 participants, the interest rate will be 6%.</li></ul>The waiting period for this product ends on 1st February 2023.Example 1On 30th January 2022, the second participant joined with Rp100.000, and a 4% interest rate was applied.The total number of participants remained at two as no more joined before the waiting period ended on 1st February 2022.Busposito started on 1st February 2022 and ended on 1st March 2022, 1 month or 28 days.So the calculation will be:100.000 x 4% x 28/365 = 360Tax deduction (360-61) = 245Total accumulation = 100.000 + 245 = Rp100.245Example 2On 30th January 2022, the second participant joined with Rp100.000, and a 4% interest rate was applied.On January 31, 2022, more consumers joined until a maximum of 10 participants are reached. Then the applicable interest is 6% for all participants.Busposito started on 1st February 2022 and ended on 1st March 2022, 1 month or 28 days.Then the calculation:100,000 x 6% x 28/365 = 460Tax deduction (460-92) = 368Total accumulation: 100,000+368 = IDR 100,368

How to calculate my Busposito interest?

Yes, taxes are deducted from the interest you receive from Busposito. Bank Saqu app will automatically deduct the taxes from your interest based on the tax regulation.

Is the interest from Busposito taxed?

You won't receive interest from Busposito if funds are withdrawn before the end date of the Busposito period.

Why don't I get interest from Busposito?

<ol><li>Choose one of the methods below:<ul><li>Click the "Saku" icon in the navigation menu at the bottom of the main page or Home page, then click the "Busposito" icon or</li><li>Click the "Busposito" icon in the "Saku Saya" sub-menu</li></ul></li><li>Select the Busposito you want to view.</li></ol>

Where to see my Busposito details?

Yes, you can. To add funds to Busposito, you can follow the steps:<ol><li>Select the Busposito under the "Belum Mulai" category</li><li>Click the “Tambah Dana” icon</li><li>Enter the desired additional funds amount,</li><li>Click “Lanjut”</li><li>Review the Busposito Details, and click "Lanjut" if confirmed.</li><li>A notification will be sent once the funds have been successfully added to the Busposito.</li></ol>

Can I add funds before the Busposito period starts or during the waiting period?

Yes, you can withdraw funds before Busposito starts, but the remaining funds must be equal to or more than the Minimum Placement Amount:Example: Minimum placement of Busposito is IDR 100,000. You have placed IDR 250,000 in Busposito. When Busposito has not started yet, you can only withdraw funds up to IDR 150,000.<ol><li>Select the Busposito under the "Belum Mulai" category</li><li>Click "Tarik Dana"</li><li>If you are sure, Click "Tarik Busposito"</li><li>Specify the desired withdrawal amount, which must be less than or equal to the Minimum Placement Amount</li><li>Choose a reason for the withdrawal</li><li>A notification will be sent upon successful withdrawal of funds.</li><li>The withdrawn funds will be available in the Pocket, which is the source of funds.</li></ol>

Can I withdraw the funds before the Busposito period starts or during the waiting period?

Unfortunately, you can only add funds before the Busposito period starts. But you can participate in other available Busposito on the Bank Saqu App.

Can I add funds after the Busposito started?

You can withdraw funds from Busposito with the following conditions:<ol><li>For the first withdrawal, you can withdraw partial or full funds</li><li>For the second withdrawal, you must withdraw all remaining funds.</li></ol>Here's how to withdraw:<ol><li>Choose your ongoing Busposito</li><li>Click the "&gt;" icon to view details</li><li>Click "Tarik Dana"</li><li>Confirm by clicking "Tarik Busposito"</li><li>Choose the amount to withdraw</li><li>Click "Konfirmasi"</li><li>Choose a reason for the withdrawal</li><li>Click “Lanjut”</li><li>A notification will be sent upon successful withdrawal of funds.</li><li>Click “Selesai”.</li><li>The withdrawn funds will be available in the Pocket, which is the source of funds.</li></ol>

Can I withdraw the funds after the Busposito started?

Busposito funds that have been withdrawn or have expired will be put into the pocket, which is the source of funds.

Where can I find the funds from my Busposito that have been successfully withdrawn or have expired?

Unfortunately, Busposito has yet to have automatic renewal feature. But don't worry. You can still enjoy Busposito by choosing another available one in the Bank Saqu App.

Does Busposito have automatic renewal or rollover?

You can get the Interest Bonus by entering a Busposito promo code when signing up to Bank Saqu App. However, the promo code is only available for new customers and can only be used once.

What is "Bonus Bunga"?

All customer funds placed in the Bank that exceed the maximum value and/or interest rate guaranteed by LPS, will not be guaranteed by LPS.

Is Busposito protected by LPS?

The total balance displayed in Bank Saqu App has been rounded down. However, the calculation of the full balance in the system still uses the amount of the balance up to two decimal places.

Is the amount of funds I see in Bank Saqu App the actual amount?

Yes, if you withdraw some or all of the funds when Busposito has started, you will be charged a fee of 0.35% of the nominal funds you withdraw.

Busposito

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