Interest Rate
- 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.
- Add-on interest rates by deposit amount
Deposit amount (Yen equivalent)
20 million yen equivalent and above : +0.05% p.a. on base interest rate on rate page(s)
greater than 50 million yen equivalent: Please inquire at branch or PRESTIA Phone Banking.- *Add-on interest rates by deposit amount will be applicable to Foreign Currency Time Deposit except for EUR, CHF, SGD, HKD, CNY, THB, TRY, MXN, SEK or DKK.
- *SMBC Trust Bank handles Chinese Yuan offshore only and uses 'CNY' to denote RMB(Renminbi) funded in the offshore market, based on the currency code used on the global settlement system, while onshore RMB circulates on Mainland China.
- The add-on interest rate (Enjoy Plus) offered by SMBC Trust Bank for deposits in Yen in foreign currency time deposit will remain valid until the first maturity date. After the first maturity date, our base interest rates will be applied after rolled over automatically.
- Add-on interest rates for Foreign Currency Time Deposits etc. might be revised without notice due to changes in the market environment, among other reasons.
- 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 date.
- *Auto-renewal is not applicable for Step Up Time Deposit. The savings interest rate of the account to which the maturity funds are credited will apply on and after the maturity date.
Fees
- Foreign exchange commission:TTS rate (Buy rate) and TTB rate (Sell 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).
- SMBC Trust Bank PRESTIA charges a monthly account maintenance fee to your account on the second 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.
Associated Risks of Foreign Currency Deposits
- Foreign Currency Deposits carry foreign currency risk. The Yen-equivalent value of the deposited foreign currency amount may rise and fall due to FX fluctuations, and may result in a loss of principal.
- There is a difference (for USD, 2 yen for 1 USD) between TTS rate (Buy rate) and TTB rate (Sell rate). As a result, even though there is no FX fluctuation, 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.
Others
- During period of excessive Market fluctuations etc. we might suspend transactions in foreign currencies without prior notice when SMBC Trust Bank regards it as necessary.
- Cancellation of "Foreign Currency Time Deposit" is not allowed before maturity, including those that have rolled over automatically, except that SMBC Trust Bank determines cancellation is unavoidable. In the event that cancellation is determined unavoidable, depositor may be required to pay settlement fee due to changes in financial circ*mstances, etc. "Step Up Time Deposit" can be cancelled after the first 6 months from the date of deposit.
- Deposit to emerging-market countries' currencies has relatively higher risks than those of the developed countries.
- For transactions in ZAR, CNY, TRY, MXN, etc., the conditions may be restricted (the timing of deposits, withdrawals, etc.). During Market contingency etc. which SMBC Trust Bank regards it as necessary, transactions in foreign currencies may be suspended without prior notice.
- When transactions using online banking are available, the Prevailing Market Rate is applied in principle. The publicly-announced rate which includes foreign exchange commission applies to transactions in CNY, SEK, DKK, or MXN regardless of the transaction amount. These currencies above are not available during weekday nights and Japanese holidays.
- Foreign Currency Deposits are not covered by any deposit insurance.
- Please read the latest "Information Memorandum" before you apply for this product.This document is available at a branch, etc.
