Power Support Plus
Foreign Currency Time Deposit
Switch currency as you wish
Foreign Currency Deposit products may fall below the original amount in yen
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Power Support Plus Foreign Currency Time Deposit
- Deposit in a Foreign Currency
- Receive interest in Yen every month.
- You can switch currencies* anytime and as many times as you wish during the deposit term.
- Any currency from among yen and other available currencies
Interest is paid every month in Yen.
Foreign Exchange Fees
Check out our reasonable exchange fees. For example, 0.07 - 0.15 yen per 1 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 2-6.
|Deposit Period||6 months, 1 year|
【US Dollar/ EUR/ Pound Sterling】
【Canadian Dollar/ Australian Dollar/ New Zealand Dollar】
|Currency Received at Maturity||Foreign currency or Yen*1|
|Interest Payment Method||Interest shall be paid only in yen irrespective of the type of currency eligible for the Deposit at the time of interest calculation by crediting it to the customer's PowerFlex Savings Deposit account (Yen Deposit).|
|Currency of Interest||Yen*2|
|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.|
- When you switch currencies, you will receive the switched currency on the maturity date.
- The interest earned in the foreign currency will be converted to Japanese yen and credited to your yen savings account. Foreign exchange rate fees will apply when foreign currency is converted into yen.
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?
- 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.
- 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.
- Deposits shall be made in a lump sum from yen savings deposit or foreign currency savings deposit. The currency to be deposited for PowerSupport Plus shall be specified at the time of depositing.
- When switching currency during the deposit term, the contractual interest rate for the changed currency on the date of change shall apply on and after the change. For any inquiries about specific interest rates, contact our call center, Shinsei PowerCall or access our online banking service, Shinsei PowerDirect.
- PowerSupport Plus is not covered by deposit insurance.
- Cancellation before maturity is not allowed in principle. If the Bank agrees to the cancellation prior to the maturity for any reason that the Bank deems justifiable, the Bank shall pay only the residual amount after deducting the total amount of interim interest payments already made from the deposit principal based on the Bank-prescribed calculation method.
- The principal shall be credited, without any change to the currency on the maturity date, into a PowerFlex savings deposit in the same currency. On and after the maturity date, the posted interest rate on savings deposit of the relevant currency shall apply.
- 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.