2 Weeks Maturity
Foreign Currency Deposit
Easy to start, short term deposit with attractive interest rates.
Foreign Currency Deposit products may fall below the original amount in yen
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2 Weeks Maturity Foreign Currency Deposit
- Easy to start, short term savings deposit.
- Deposit in a Foreign Currency
- The principal and interest earned will be automatically renewed every 2 weeks on the maturity date. The same terms and conditions will apply along with the latest interest rate.
2 Weeks Maturity Foreign Currency Deposit offers attractive interest rate.
Recommended for customers interested in investing their foreign currency savings.
Foreign Exchange Fees
Check out our reasonable exchange fees. For example, 0.07 - 0.15 yen per USD
- In the event of high market volatility, system malfunctions, etc., the foreign exchange rates applied by the Bank may differ significantly from prevailing market rates.
Acceptable Customer Risk Level
This product is recommended for customers with acceptable risk levels 1-6.
|Deposit Period||2 weeks|
More than 1,000 units of base currency (e.g. USD 1000.00) in increments
|Maturity||The principal and interest earned will be automatically renewed every
2 weeks on the maturity date.
After setting up the deposit the maturity option can be changed to
automatic cancellation to have it paid into customer's PowerFlex
Foreign Currency Savings Deposit account (same as original deposit).
|Currency Received at Maturity||Foreign currency (same as original deposit)|
|Interest Payment Method||Interest shall be paid in a lump sum on the maturity date.|
|Currency of Interest||Foreign currency (same as original deposit)|
|Principal Guarantee||There is a risk of the loss of yen-denominated principal.
For details, please see here.
|Deposit Insurance||Not covered by deposit insurance.|
Frequently Asked Questions
- How can I open an account?
- How can I make a deposit into my PowerFlex account?
- What are currencies are available for Time Deposits ?
- What transactions are available on Internet banking?
2 Weeks Maturity Foreign Currency Deposit
- Interest is subject to 20.315% withholding tax (national tax 15.315% and local tax 5%). The fractional figure of the after-tax interest rate shall be rounded down.
- The default setting of maturity instruction is automatic renewal ("Rollover Type"). The depositor may apply for automatic cancellation on maturity ("Cancellation Type") at branches, Shinsei PowerCall (telephone banking), and Shinsei PowerDirect (online banking). To change the maturity instruction, such application shall be submitted to the Bank (i) by the branch closing time on the preceding business day of the maturity date at branches, (ii) by the preceding day of the maturity date via Shinsei PowerCall (telephone banking) or Shinsei PowerDirect (online banking).
- For Rollover Type, the aggregate sum of principal and after-tax interest thereon shall be automatically renewed for successive 2 weeks, and the interest rate which is posted as of the renewal of 2 Weeks Maturity Foreign Currency Deposit shall apply. If the depositor has applied for Cancellation Type, the principal and after-tax interest shall be remitted to the depositor's PowerFlex foreign currency savings deposit in the same currency on the subsequent maturity date immediately after such application, and the posted interest rate on such savings deposit shall apply on and after the maturity day.
- Cancellation before maturity is not permitted in principle. If the Bank agrees to the cancellation prior to the maturity for any reason that the Bank deems justifiable, the only principal amounts shall be refunded (interest thereon shall not be honored).
- 2 Weeks Maturity Foreign Currency Deposit is not covered by deposit insurance.
- In the event of high market volatility, system malfunctions, etc., the foreign exchange rates applied by the Bank may differ significantly from prevailing market rates. Customers are urged to confirm the foreign exchange rates to be applied to any such transactions.
- Currency exchange fees shall apply when depositing/withdrawing yen into/out of foreign currency accounts. Unconventional currency exchange fees may be applied in the event of drastic foreign exchange rate fluctuations or when major markets are closed. The maximum rates of such one-way exchange fees and round-turn exchange fees are 5.5 yen per currency unit and 11 yen per currency unit respectively. For a direct non-JPY cross currency exchange, the currency exchange fees will be 0.02 multiplied by one of the currencies. Regarding 2 Weeks Maturity Foreign Currency Deposit, the maximum rate of one-way exchange fees is 5 yen per currency unit and the maximum rate of round-turn exchange fees is 10 yen per currency unit.
- There is a risk of loss of yen denominated principal due to the application of currency exchange fees and applied interest rates, even if foreign exchange rates do not fluctuate.
- Cash in foreign currencies and foreign currency remittances are not available at our branches.
- Fees will be charged for foreign currency remittances.
- Application to GoRemit overseas remittance service must be made before making foreign currency remittances.