SBI Shinsei Bank Raises Interest Rate to 0.3% for Depositors Aged 28 and Under

TOKYO, Dec 03 (News On Japan) - Starting in December, SBI Shinsei Bank has raised the interest rate for ordinary savings accounts to 0.3%—about three times the standard rate—for all depositors aged 28 and under.

This rate applies not only to newly opened accounts but also to existing accounts held by those in the age group.

As the Bank of Japan's monetary policy enters a rate-hike phase and competition among banks to attract deposits intensifies, SBI Shinsei Bank aims to attract young customers by focusing on those in their late 20s. "Many life events, such as marriage, job changes, or relocation, occur during this stage of life," the bank stated, highlighting its efforts to expand its customer base by targeting this demographic.

Source: FNN

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