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*If this time deposit is not extended by Shinsei Bank decision, above interest will not be applied.
*interest is as of June 30, 2008
Yen time deposit (5 or 8 years maturity)
This time deposit will be extended for 5 or 8 years by Shinsei Bank decision.
It is principal guaranteed Yen Time Deposit
In principal, regardless of term extension ,cancellation before maturity is not permitted.
If this deposit term is extended to 8 years by Shinsei Bank decision,average interest will be 1.4375% p.a.(1.15% p.a. after tax).
In case of cancellation by your offer before maturity your principal is not guaranteed. Deposit may fall significantly below your original yen amount depending on the market environment.
Regardless of term extension, you will receive interest after 5 years.
If the market rate is higher than the specified rate five years from now, the likelihood is high that Shinsei Bank will decide to extend the maturity.
Therefore, if the maturity is extended, it means that the customer will lose the opportunity to invest the money at the high market rate five years from now.
Conversely, if the market rate is lower than the specified rate five years from now, then the likelihood of Shinsei Bank extending the maturity becomes low.
If the maturity is not extended, the specified rate cannot be applied.
* The market rate five years from now is not the only determinant for the extension of maturity.
Therefore, the above description may not apply in some cases.
Cancellation before maturity is not permitted. If we find it necessary to accept cancellation by your offer before maturity, we will cancel the deposit and the remaining amount which we will deduct deposit restructuring amount and other costs occurred to the bank during cancellation day to maturity day, which is calculated by our original formula, will be credited to your Power Flex Yen savings account. Please note that in this case, your principal is not guaranteed. Confirm that the purchase amount does not exceed your excess fund.
The English translation is intended solely for customer convenience,and shall be used for reference only.
Should there be discrepancy between the Japanese and the English text, the Japanese text shall take precedence.
We may stop handling this deposit or revise the interest rate and bonus interest, depending on the market environment.
In principle, cancellation is not permitted before maturity.
If the Bank finds it necessary to accept a cancellation before maturity, the Bank will cancel the deposit, and will deduct the cost of restructuring the deposit for the period from cancellation to maturity, and other costs incurred by the Bank from the principal. The remainder will be credited to your PowerFlex Yen savings account. Please note that, in this case, your principal is not guaranteed.
Principal and interest are credited to the PowerFlex Yen savings account at maturity, and Yen savings account interest rates displayed at the branch counters will apply.
The total interest is obtained by multiplying the number of years by the simple interest. Actual numbers may differ slightly as 1 year is calculated on a 365-day-a-year basis.
Please read the Product Description carefully and understand the product well before opening the time deposit by your judgment and responsibility.Confirm that the purchase amount does not exceed your excess fund. Brochures are available at our branches for further information regarding Powered One deposits.