TOKYO, Feb 20 (News On Japan) –
SBI Shinsei Bank will double the rate of interest on financial savings accounts for people aged 60 and older beginning in April.
From April 1, the financial institution will improve the rate of interest on strange financial savings accounts to 0.4% for depositors aged 60 and above who register for its free membership service.
Following final month’s extra price hike by the Bank of Japan, SBI Shinsei Bank will increase its commonplace financial savings rate of interest to 0.21% from April 3. However, seniors will profit from practically double that price.
The financial institution goals to draw extra senior depositors, who sometimes see a rise of their property by way of retirement advantages and inheritances, as a part of its technique to develop its deposit base.
Source: TBS