The above conditions are as of Jan 4, 2008. TTS = 112 yen, TTB = 110 yen are used for calculation. The actual numbers may differ slightly, since the above do not reflect exchange rate fluctuations. If the investment is not extended, maturity is in 1 year, and the principal will be converted to yen at the rate of TTB = 110 yen. The figure will be 3,300,000 yen, not taking in to consideration exchange rate fluctuations. After 1 year of deposit when there is an interest rate calculation, if the 6mth USD LIBOR is higher than the base interest rate, the applicable rate will be 0 % until the next interest calculation.
Interest is fixed for the first year and is higher than that for other US dollar time deposits.
Interest is paid twice a year in Yen. It is like getting a bonus.
The minimum deposit is 25,000 US dollar in branch (Shinsei Financial Center).
Like the idea of receiving interest twice a year in Yen.
Would like to deposit in US dollars at high interest.
Predict that US dollar market interest will be low for a while.
2year deposit term extension will be decided by the Bank based on the market interest at 1 year maturity.
Extension determinant day: 4 business days prior to responding date 1 year after deposit.
The term of this deposit may be extended by the Bank?s decision at 1 year maturity.
After 1 year of deposit when there is a interest rate calculation, if the 6mth USD LIBOR is higher than the base interest rate, the applicable rate will be 0 % until the next interest calculation.
Contracted interest at time of deposit applies for the first year of deposit. Applicable interest for the additional years will be defined on 2 days London time prior to the first day of interest calculation period.
Interest will be converted to yen by the Bank?s TTB and will be paid into Yen Savings Deposit.
Calculation for the example above is based on 1 year = 365 days, and just divides that into half for the interest for 6 months. The actual numbers may differ slightly since the example is not taken into account exchange rate fluctuations, and uses TTS = 119 yen, TTB = 117 yen.
Foreign currency is not available in cash.
Interest is given before tax, and it is subject to 20% withholding tax.
The Yen equivalent of a foreign currency deposit may be less than the original Yen principal before it was converted to the foreign currency due to exchange rate fluctuations.
The Bank’s exchange rate (TTB/ TTS) shall apply for deposits and withdrawals in Yen. Therefore, the deposit may fall below your original Yen amount even without exchange rate fluctuations.
Foreign currency deposits are not covered by deposit insurance.
Cancellation before maturity is not permitted.
This product is not available between 10 p.m. on Thursdays and 9 a.m. on Fridays each week due to the updating of information. The schedule may differ on holidays.