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This product entails some risks such as loss of principal. Please see here for the details.
Step Up Time Deposit Navigator
Features of Step Up Time Deposit
5 Available Currencies
Manage your assets in five major currencies, USD, AUD, NZD, GBP and EUR.
The interest rate increases in stages
The term is divided into four 6-month "Step" periods, with interest rates increasing at each "Step" period.
Monthly Interest Payments
Receive interest on the last business day of each month. Interest can be received in the deposit currency or yen.
Review Your Investment
Early cancellation is possible after six months from the date of deposit (subject to the Bank’s approval), so you can review your investment based on market trends at that time.
Recommended For
Have no plans to use the funds
for at least 6 months
Want to receive interest monthly
Want to review your
Step Up Time Deposit Image
A foreign currency time deposit for 2 years with monthly interest payments and interest rates increasing every six months.
- The interest rates shown in the image above are for illustration purposes only and differ from actual rates.
- Interest can be received in the deposit currency or Japanese yen.
If you choose to receive interest in Japanese yen, the interest will be converted at the posted TTB rate on the Interim Interest Payment Date.
The interest payment account and currency cannot be changed after deposit.
Smart Ways to Use Your Foreign Currency
How to Utilize Foreign Currency Deposits
Manage Assets in Foreign Currency
Even after maturity, you can keep your funds in foreign currency and put them to work in a range of foreign currency deposits. Managing your assets in foreign currency lets you pursue return opportunities while managing exchange rate risk.
Use Foreign Currency
Directly from Your Account
With GLOBAL PASS®, you can make payments in foreign currency when shopping overseas and withdraw foreign currency cash from ATMs. Using foreign currency directly helps reduce foreign exchange costs.
Step Up Time Deposit
This product entails some risks such as loss of principal. Please see here for the details.
Brief Description of Product
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
- 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.
- 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.
For non-account holders
Available 24/7
FAQ
Please read before making any transactions.
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.