Detailed Description of Yen Savings Account

Latest update: May 15, 2013

Name of product

Yen savings account

Eligible customers

Individuals living in Japan

Minimum deposit amount/deposit unit

From 1 yen in increments of 1 yen

Maximum deposit amount

No limit

Deposit term

No term specification.

Interest unit

1 yen (no interest is earned when the balance is less than 1,000 yen)

Interest rates

Floating interest rate
The interest rate shall be determined in accordance with fluctuations in market interest, and the interest rate indicated on the service website shall be applied.

Method of interest payment

We will settle the accounts as shown below in February and August every year.

  • We will calculate the interest for the period from the day following the third Sunday of February to the third Sunday of August in the same year and incorporate the interest amount to the balance of the deposit the following day.
  • We will calculate the interest for the period from the day following the third Sunday of August to the third Sunday of February in the subsequent year and incorporate the interest amount to the balance of the deposit the following day.

Interest calculation method

Considering 365 days as one year, the rate is calculated daily from the day of deposit to a day before payment.

Applicability of deposit Insurance

The total principal of a deposit up to 10 million yen in a yen savings account and/or yen time deposit account is covered by deposit insurance to guarantee interest against the principal.

Sony Bank does not handle payment and settlement deposits that are fully protected by deposit insurance.

Interest taxation

Interest shall be subject to separate withholding taxation including special income tax for reconstruction 20.315% (national tax: 15.315% and local tax: 5%) through December 31, 2037.

Service hours

Basically, 24 hours a day 7 days a week (except during system maintenance)

The designated dispute resolution body contracted by Sony Bank

Japanese Bankers Association
Contact information: JBA Customer Relations Center
Telephone number: 0570-017109 or 03-5252-3772