Time Deposits
Highly attractive rates of interest are offered at our bank. The interest rates are decided on a weekly basis. Click Here for "Deposit Rates". Deposits can be kept for varying periods from 1 month and upto five years and even beyond that on special cases! Deposits can be kept in US Dollar or Euro or GBP or Yen. It is an excellent source of earning either for the short or long term. Instead of keeping funds idle, a State Bank deposit will enable you to earn handsomely for a period as low as a month. For high value deposits over 10 million Yen or 100,000 USD these rates are further improved depending on the amount and tenor of deposit.
For Account Opening Form Click Here
Rules governing Time Deposits
The deposit shall be repaid with interest on or after the date of maturity appearing on the face thereof. Interest is paid in a lump sum at maturity for deposits or periodical intervals, once in three months depending on the scheme chosen by the customer. The deposit will be rolled over automatically at the end of maturity period for the same amount and for the same period unless otherwise instructed. The deposits made at the bank are not covered by any deposit insurance. As per local regulations withholding tax is deductible on the interest before payment of applicable rate except where exemptions are allowed as per law. Bank may not pay interest for premature withdrawals or may charge penalties for early withdrawals. Please inquire at our branches in advance, in case of need.
Financial Instruments & Exchange law
For details of the deposits in the case of foreign currency deposits such as exchange risk factors, commission chargeable, taxation as aspects etc. please refer to "document prior to execution of foreign currency deposits", which can be collected from the branch.
Customers may please note that for deposits in currencies other than JPY, there is a potential risk of loss arising out of fluctuations in currency values.
Document Prior to Execution of Contract of Foreign Currency Time Deposit