Step Up Time Deposit

A foreign currency time deposit product that earns monthly interest for 2 years, with the interest rate increasing every six months.

Cancellation before maturity

Step Up Time Deposit cannot be cancelled during the first six (6) months from the date of deposit (the "First Step Period"). After the First Step Period has ended, the deposit may be cancelled before maturity, but only with the specific consent of SMBC Trust Bank.

Cancellation during the month in which the First Step Period ends

1. Any payable interest that accrues from the most recent Interim Interest Payment Date up until the end date of the First Step Period shall be paid on the cancellation date. The funds can be withdrawn from the cancellation date.
2. There will be no payment of any interest that accrues from the end date of the First Step Period up until the cancellation date.

Cancellation after the month in which the First Step Period ends

There will be no payment of any interest that accrues from the most recent Interim Interest Payment Date.

Applicable currencies

USD, AUD, NZD, GBP and EUR

Term availability

24 months

Automatic renewal

Not applicable

Deposit amount

The minimum amount required is 500,000 yen equivalent. (When using Yen funds to start with, the minimum deposit amount required is 500,000 yen.)

Withdrawals

The principal shall be paid in a lump sum on the maturity date into PRESTIA MultiMoney Foreign Currency Savings Deposit in the deposit currency, and can be withdrawn from the maturity date.

Interest - Applicable rates

The applicable rates shall be the rates on offer exclusively for the Step Up Time Deposit term on the date of deposit.
SMBC Trust Bank shall divide the period from the deposit date to the maturity date into four (4) "Step" periods, each of 6 months' duration, and apply the interest rate to each Step period that is stipulated on the deposit date.
The deposit interest rate of the account to which the maturity funds are credited will apply on and after the maturity date.
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

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 is paid according to the rate that applies to each step period. 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 the 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 maturity date.
The deposit interest rate of the account to which the interest is credited will apply on and after the interest payment date.

Transaction Channels and Contact Number

Branches of SMBC Trust Bank Ltd.(belonging to PRESTIA) that are set up to handle said transactions. Certain transactions may not be available via PRESTIA Phone Banking. Step Up Time Deposit transactions are not available via online banking. For details, please inquire at our branches or via PRESTIA Phone Banking (Domestic (toll-free): 0120-110-330; From overseas (charges apply): 81-46-401-2100).

Please note

This product entails some risks such as loss of principal in Japanese yen. Please read "Information Memorandum and Pre-Contract Document" carefully and make sure you have full understanding of the product, associated risks, and commissions before making a transaction.

Please see here for the details of Risk of loss of principal, Commissions, Other considerations and available currencies, etc.