Sony Bank Raises Interest Rate on Ordinary Yen Deposits.
July 14, 2006
Sony Bank, a 88.0%-owned subsidiary of Sony Financial Holdings, today announced that as of July 18, 2006, the bank would raise its interest rate on ordinary yen deposits from the current 0.050% to 0.200%.* This will be the first time Sony Bank has raised its interest rate on ordinary yen deposits since its start of operations in June 2001.
Based on the concept of "bringing individual customers closer to the market," Sony Bank has worked to offer interest rates that are close to market rates, as is indicated by Sony Bank's regular revisions of interest rates on yen time deposits and foreign currency deposits. Going forward, Sony Bank will continue to respond to customers' needs in a timely manner.
*Interest rates are expressed as annual percentage rates. On an after-tax base, interest rates are to be raised from 0.040% to 0.160%.
Note: This is an English-language summary of a Japanese announcement made by Sony Bank on July 14, 2006. The summary was prepared by Sony Financial Holdings Inc. solely for the convenience of non-Japanese readers.
