Foreign Currency Time Deposit

Foreign Currency Time Deposit Information Memorandum and Pre-Contract DocumentLink to PDF document

Brief Description of Product

Create your own financial portfolio from 10 different foreign currencies and a wide variety of time periods to meet your investment needs.
For time deposits with a tenor of 1 year or more, "Monthly Interest Payment Type (Monthly Smile)" is available as an interest payment option. If you select this option, interest will be paid monthly at the end of the month and credited either in the deposited foreign currency or Yen, based on your choice at the time of making the deposit. (Conversion rate to Yen includes the foreign exchange commission.)

Cancellation before maturity Cancellation is not allowed before maturity, including foreign currency time deposits that have rolled over automatically.
Applicable currencies USD, AUD, NZD, GBP, CAD, CHF, EUR, HKD, NOK and ZAR (Please note that there are cases where some currencies may not be offered due to the country's regulations and / or market conditions.)
SMBC Trust Bank may determine that some currencies are not available for "Monthly Interest Payment Type (Monthly Smile)".
Term availability 1 week, 2 weeks, 1, 3, 6, 7, 9, 12, 24, 36 and 60 months; and other terms determined by SMBC Trust Bank. The available term(s) for each currency will be determined by SMBC Trust Bank.
Automatic renewal Available for Time Deposits up to 1 year term. For "Monthly Interest Payment Type (Monthly Smile)", it is available for deposits with 1 year term only.
When SMBC Trust Bank receives instructions before maturity for automatic renewal, the matured deposit will be renewed as a time deposit of the same term and in the same currency. SMBC Trust Bank, however, may determine that automatic renewal is not applicable for some term(s).
Deposit amount The minimum amount required is 100,000 Yen equivalent. (When using Yen funds to start with, the minimum deposit amount required is 100,000 Yen.)
Withdrawals Unless SMBC Trust Bank receives instructions for automatic renewal, the principal and interest shall be paid together at maturity into PRESTIA MultiMoney Foreign Currency Savings Deposit in the deposit currency, and can be withdrawn from the maturity date. When "Monthly Interest Payment Type (Monthly Smile)" is selected as interest payment option, the principal shall be paid in a lump sum into PRESTIA MultiMoney Savings Deposit in the deposit currency. The maturity amount can be withdrawn from the business day following the maturity date.
Interest - Applicable rates

The interest rate applied from the date of deposit will be the one offered at the point of making the deposit. In the case of auto-renewal, the interest rate for the same Foreign Currency Time Deposit term and the currency on offer on each maturity date shall apply. When auto-renewal does not apply, the savings interest rate of the account to which the maturity funds are credited will apply on and after the maturity day.

Interest rates may change according to market conditions and are subject to change without notice any time. For the latest rates, please inquire at our branches or PRESTIA Phone Banking .

Interest payment method

Interest is paid in a lump sum at maturity.

<When selecting "Monthly Interest Payment Type (Monthly Smile)" as interest payment option>
The last business day of each month during the period from the deposit date to the maturity date shall be the Interim Interest Payment Date, on which the interest (calculated by contracted rate) due each month is paid.
However, funds can only be withdrawn from the following business day thereafter.
Interim interest shall be credited to your account either in Yen or in the same currency of deposit, as designated by the depositor on the date of deposit. If the interest payment currency is Yen, SMBC Trust Bank shall convert the interim interest due at the posted TTB rate (including the foreign exchange commission) prevailing on the Interim Interest Payment Date. The currency designated for interest payments cannot be changed. The last interest payment can be withdrawn from the business day following the maturity date.
The savings interest rate of the account to which the interest is credited will apply on and after the interest payment day.

Transaction Channels and Contact Number

Branches and mini branches of SMBC Trust Bank Ltd. that are set up to handle said transactions. Certain branches and mini branches do not handle cash or check transactions. Certain transactions may not be available via PRESTIA Online and PRESTIA Phone Banking. For details, please inquire at our branches, mini branches, or via PRESTIA Phone Banking (Domestic (toll-free): 0120-110-330; From overseas (charges apply): 81-45-330-2880).

Foreign Currency Time Deposit Information Memorandum and Pre-Contract DocumentLink to PDF document


Risk of loss of principal

There is no risk of a loss of principal in the deposited foreign currency, but the Yen-equivalent value of the deposited foreign currency amount may rise and fall due to FX fluctuations (foreign currency risk). The rate at which yen is converted into foreign currency (TTS rate) and vice-versa (TTB rate) each includes a foreign exchange commission set by SMBC Trust Bank. As a result, the amount in yen, including interest, that you receive may be smaller than the amount in yen at the time of deposit, resulting in a loss of principal, unless the yen depreciates against the foreign currency by a margin that exceeds the foreign exchange commission, and not only in the case that the yen appreciates against the foreign currency.

Commissions

  • Foreign exchange commission: The exchange rate at which yen is converted into foreign currency (TTS rate) and vice-versa (TTB rate) includes a foreign exchange commission set by SMBC Trust Bank. (For US dollars, the foreign exchange commission is 1 yen per dollar when converting one way (i.e., from yen to dollar or dollar to yen) and 2 yen per dollar if converting into and subsequently out of yen or dollar.)
  • Foreign currency cash handling charge: A foreign currency cash handling is charged on each deposit or withdrawal of cash in a foreign currency (2 yen per US dollar, and 3 yen per Euro).
  • Because other commissions for fund transfer etc. differ according to conditions in transactions, we can't show information about them beforehand.
  • Please inquire at a branch or via PRESTIA Phone Banking or see the Service Fee List for more information about each commission.

Other considerations

  • Withdrawals of foreign currency time deposits may not be allowed before maturity.
  • Foreign Currency Deposits are not covered by any deposit insurance.
  • Transactions in currencies of emerging countries are riskier than those of developed countries.
  • In principle, interest is subject to a 20.315% withholding tax (National tax 15.315% and Local tax 5%) for individual customers. Foreign exchange gains are treated as miscellaneous income under the Japanese tax laws. Comprehensive income taxation applies to corporate customers. The tax rate etc. may change in the future due to reasons such as revision of tax laws.
  • Interest and exchange rates change according to market conditions. Please be sure to contact an SMBC Trust Bank branch or access PRESTIA Online etc. for the most up-to-date information.
  • Please read "Information Memorandum and Pre-Contract Document" carefully and make sure you have full understanding of the product before making a transaction. To obtain this document, inquire at a branch or via PRESTIA Phone Banking. This document is also available at PRESTIA Online (excluding certain products).
  • Customers performing foreign currency deposit transactions for the first time (including receiving the funds in foreign currency by fund transfer) will be required to conclude a PRESTIA MultiMoney Foreign Currency Savings Deposit Contract. (If a customer who has not concluded a PRESTIA MultiMoney Foreign Currency Savings Deposit Contract receives funds in a foreign currency, the funds will be converted to yen at SMBC Trust Bank's specified exchange rate, before being deposited in their account.) Applications can be submitted via PRESTIA Online, at branches and mini branches or by mail. The application process will take a few business days to conclude the contract.

    Company Name: SMBC Trust Bank Ltd.

  • At SMBC Trust Bank PRESTIA, we use profiling (a series of questions related to asset management) to understand the amount of risk you are able to accept. The answers received in profiling, and the risk acceptable to the customer, are expressed numerically as a "customer risk tolerance (risk score)".
    Please be aware that investment in a product is not possible if the customer risk score is below the product risk level.
  • SMBC Trust Bank PRESTIA charges a monthly account maintenance fee of 2,000 yen (excluding tax) to your account on the first business day of each month. Please note, however, that no such fee will be charged for the month in question if your Total Average Monthly Relationship Balance or other conditions satisfy specific requirements.
  • Products and services featured here may not be purchasable or able to be provided to customers for various reasons determined by SMBC Trust Bank. We kindly request your understanding in advance.
Applications
Account Holders

Applications are accepted using the following methods:

  • *Depending on the transaction channel, some transactions / services may not be accepted. For more information, call PRESTIA Phone Banking .
  • *You must go through the user registration process before using PRESTIA Online.
Internet

Apply using PRESTIA Online

PRESTIA Online
Telephone

Contact PRESTIA Phone Banking   0120-110-330 (toll-free, open 24 hours a day, 365 days a year)

Branch

Apply at a Branch

Find a branch
Non Account Holders
Branch

Apply at a Branch

Find a branch
Telephone

0120-50-4189 (toll-free) From overseas, call 81-45-330-2881(toll-charge)