Government Securities Investment (SBN): A Safe, Stable, and Suitable Instrument Amid Economic Uncertainty

05 January 2026

Amid global economic uncertainty, many investors are now increasingly selective in managing their funds. Stock market fluctuations, exchange rate weaknesses, and changes in international interest rates have made most people more cautious in choosing investment instruments. They are not only chasing returns, but also looking for instruments that are safe, stable, and provide certainty of capital return.

One investment instrument that meets these criteria is Government Securities (SBN). Not only do they provide competitive and stable returns (coupons), but this investment also contributes directly to national development. In other words, investing in SBN combines financial benefits and social impact in one product.

Why are SBNs the Choice Amid Economic Uncertainty?

In recent years, global economic uncertainty has become a challenge for investors. World geopolitical conditions, commodity price fluctuations, and changes in monetary policy in developed countries often have a domino effect on domestic financial markets. Many investment instruments, such as stocks and mutual funds, experience high volatility. In contrast, SBN offers peace of mind because:

• It is issued directly by the Government of the Republic of Indonesia.

• It is fully guaranteed for principal and coupon/yield payments.

• The risk is very low.

This is why SBN is widely used as the foundation of portfolios, both by novice and experienced investors.

What is SBN and is it safe?

SBN is a debt instrument issued by the government to finance budgetary needs, including infrastructure projects and national development. When you buy SBN, you are lending money to the state, and in return, the government commits to repaying the principal loan along with coupons/returns according to a predetermined schedule.

What makes it safe?

• Guaranteed by law

• Coupon payments are made on time

• Supervised by the Ministry of Finance of the Republic of Indonesia and the Financial Services Authority (OJK)

• Its value is relatively stable and not easily affected by market fluctuations

For conservative investors, SBNs are an ideal choice for earning returns while maintaining asset value.

Types of Retail SBNs that Can Be Purchased by the Public (Primary Market)

The government provides various types of retail SBNs, namely SBNs that can be purchased by Indonesian citizens (WNI). The following retail SBNs are instruments issued by the government through the primary market, so they can only be purchased when the offering period is open. However, for ORI and SR, investors have additional flexibility as they can be traded again on the secondary market after the offering period ends. Each type has different characteristics and yield systems, both conventional and sharia based.

• Government Bonds (SUN)

  SUN are SBNs managed based on conventional principles, consisting of two main types:

ORI (Indonesian Retail Bonds)

Provide a fixed rate coupon paid monthly. ORI can be traded on the secondary market, so investors have the potential to earn capital gains when bond prices rise.

SBR (Retail Savings Bonds)

These have a floating coupon rate with a floor that adjusts to the Bank Indonesia reference rate (BI Rate). SBRs cannot be traded on the secondary market, but they offer an early redemption feature, which allows for partial disbursement of funds before maturity.

• State Sharia Securities (SBSN)

  SBSN are issued based on sharia principles, free of usury and based on contracts that comply with Islamic provisions. Several types of SBSN are:

SR (Retail Sukuk)

Uses an ijarah contract, with a fixed monthly return. SR can be traded on the secondary market.

ST (Savings Sukuk)

Non-tradable (cannot be resold on the secondary market), but also has an early redemption feature like SBR. Suitable for investors who want medium-term sharia investments with low risk.

With these various options, investors can adjust their preferences whether they want flexibility in trading on the secondary market or certainty of returns with a specific tenor.

When is the Best Time to Invest in SBN?

The best time to invest in SBN is when retail SBN offerings are open or when interest rates fall if investing in SBN on the secondary market. Retail SBN series on the primary market are only offered a few times a year, each with different series, tenors, and coupons. Therefore, investors need to take advantage of the offering period so they don't miss the opportunity to buy.

Investing early also helps you build healthy financial habits. By placing some of your funds in safe and productive instruments, you not only protect the value of your wealth from inflation, but also strengthen your long-term financial foundation.

What are the Benefits of Investing in SBN?

Investing in SBN offers a variety of attractive benefits, both in terms of security and potential financial returns. Here are some reasons why SBN is a favorite investment instrument among Indonesians:

• Low Risk & Guaranteed by Law

  SBNs are low-risk instruments because principal and coupon payments are guaranteed by the state through legislation.

• Competitive Coupons

  SBN yields are generally higher than bank deposits. Fixed rates also mean investors do not need to worry about interest rate fluctuations

• Regular Income

  Investors will receive regular coupon payments, usually every month. This provides a stable cash flow that can be used for routine needs or reinvestment.

• Flexible Redemption

  Some series, such as SBR and ST, offer early redemption options, which allow for partial redemption of funds before maturity. This feature provides flexibility for investors who need emergency funds without losing their entire investment.

• Potential Capital Gains

  For tradable series such as ORI and SR, investors have the opportunity to earn capital gains when the selling price on the secondary market is higher than the purchase price.

• Can Be Used as Collateral

  SBNs can be used as collateral to obtain loans from financial institutions, adding value for investors.

This combination of security, regular returns, and flexibility makes SBN one of the most balanced instruments in terms of risk and return.

The Contribution of SBN to National Development

In addition to providing financial benefits to investors, SBN also plays a major role in national development. The funds collected from SBN sales are used by the government to finance various development projects ranging from infrastructure, education, health, nutrition, to sustainable projects such as green projects and programs that support the achievement of Sustainable Development Goals (SDGs).

By purchasing SBN, you are indirectly contributing to the development of the nation. Your investment not only provides personal returns, but also drives national economic progress. The benefits are not only material, but also the pride of being a citizen who plays a role in the advancement of Indonesia.

What are the advantages of buying SBN through the M2U ID App?

Investing in SBN is now much easier thanks to the M2U ID App from Maybank Indonesia. The M2U ID App allows you to buy, monitor, and sell SBN online without having to visit a branch office.

Here are the various advantages of investing in SBN through the M2U ID App:

• Investments start from IDR 1 million, suitable for beginners who want to start investing with small capital.

• 24/7 access, anytime and anywhere you are.

• Primary and Secondary SBNs are available, so you can buy during the initial offering or trade SBNs on the secondary market.

• The secondary market SBN trading feature enables fast and transparent transactions.

• SBN simulation before purchase, helping you calculate estimated coupons/yields and financial planning.

• Investment guides and glossaries are available to help beginner investors easily understand financial terms.

• Real-time order monitoring makes it easy to track the status of your transactions.

• Redemption feature (partial fund withdrawal) before maturity for certain types of SBN.

• Cashback offers for purchases in the primary market.

With these conveniences, anyone can become an SBN investor practically without manual processes, queues, or hassle.

Let's start investing in SBN through the M2U ID App . Get convenience and a complete range of features now!