New Powered One
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Structured Deposit Extendible Yen Time Deposit (3 or 5 years maturity)
< Under the name of: New Powered One > Product Description
As of April 13, 2007

1. Product

New Powered One (Structured Deposit / Extendible Yen Time Deposit / 3 or 5 years maturity)

2. Conditions

Individual customers with PowerFlex account

3. Currency

Yen

4. Deposit term

3 years* (initial deposit term). However, if the Bank decides to extend the deposit term, (term extension stated below on 5), the deposit term will be extended for another 2 years until the final maturity date, and the total deposit term will be 5 years*. If the Bank does not extend the term, deposit term will be 3 years*. Excluding the conditions of term extension (see item 5 below), there will be no automatic renewal for the deposit term of this deposit.

*For this deposit, the Bank's prescribed booking period will be provided. The initial maturity date will be 3 years from the first business day after the closing date of booking period. The final maturity date will be 5 years from the first business day after the closing date of booking period. Actual deposit term of 3 or 5 years will be the number of days from deposit date to the final day of booking period. Therefore, please check the actual deposit date, initial maturity date and final maturity date when you apply.

5. Term extension

Term extension is determined by the Bank on the Extension Judgment Day (in principle, 4 Tokyo business days prior to the initial maturity date), whether or not deposit will be extended until the final maturity date. Term extension will be determined by Shinsei Bank.

6. Deposit method

Lump sum deposit. However, it is limited to transfers from PowerFlex Yen Savings Deposit.

7. Minimum deposit and unit

Deposit from Financial Center

3,000,000 yen or more. Unit : 1 yen

Deposit from Shinsei PowerCall (telephone banking)

3,000,000 yen or more. Unit : 1 yen

Deposit from Shinsei PowerDirect (online banking)

500,000 yen or more. Unit : 1 yen

8. Principal withdrawal

According to the term extension stated in 5 above, principal will be deposited to your PowerFlex Yen Savings Deposit on initial maturity date or final maturity date by lump sum payment.

9. Interest rate

Initial deposit term

Contracted interest at deposit for initial deposit term will apply.

After term extension

Contracted interest at deposit for extension will apply.

Please contact the branch or Shinsei PowerCall for further details on interest rates.

10. Interest payment

Interest for initial deposit term will be paid on initial maturity date. In case term extension is made (term extension stated above on 5), interest after term extension will be paid on final maturity date. Interest payments will be credited to your PowerFlex Yen Savings Deposit respectively.

11. Interest calculation method

Initial deposit term

Number of days from the deposit date to 1 day prior to the initial maturity date will be applied for interest calculation.

After term extension

Number of days from initial maturity date to 1 day prior to the final maturity date will be applied for interest calculation.

Each interest calculation is in units of 1 yen on a 365-day-a-year basis. We will discard fractions.

12. Interest after maturity

Funds are credited to the PowerFlex Yen savings account at maturity (the final maturity date if term extends), and the Yen savings account interest rate applies after maturity of this deposit. Please see Yen Savings Deposit Product Description for interest payment and calculation.

13. Cancellation before maturity

In principle, cancellation is not permitted before maturity.
If we find it necessary to accept a cancellation before maturity, we will cancel the deposit and any additional amount, and will deduct the cost of restructuring the deposit and other costs incurred by the Bank from the principal for the period from cancellation to maturity. The remainder will be credited to your PowerFlex Yen savings account. Please note that in this case, your principal is not guaranteed.

14. Deposit insurance

Covered by deposit insurance.

15. Tax

20% withholding tax is deducted from interest.

16. Overdraft service

This deposit is subject to an overdraft service for a PowerFlex account.

Please click here for Product Description applied until February 1, 2007
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The English translation used in the product descriptions are intended solely for customer convenience, and shall be used as for reference only. Should there be any discrepancy between the Japanese and the English text, the Japanese text shall take precedence.