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Sony Bank to Begin Handling New Card Loans

Jul. 13, 2015

Sony Bank Inc., a wholly-owned subsidiary of Sony Financial Holdings today announced that it will begin handling new card loans, with all contract procedures concluded over the Internet.

The new card loans will offer some of the lowest minimum interest rates in the Japanese industry, at 2.5% per year, and the maximum loan amount is set at ¥8 million, making this a product that responds to a wide variety of customer financing needs. Applications can be completed at 24 hours a day and online via personal computer or smartphone. All contract procedures can be completed over the Internet; no physical application documents or contract paperwork are required. The bank also offers a "First-Time Transfer Service" that customers without Sony Bank accounts can use to borrow prior to receiving a cash card.

Sony Bank began handling card loans at its start of operations in June 2001 in response to customers' funding needs, but had stopped accepting new applications in July 2011. This new card loan features substantially improved product characteristics, offering convenience to even more customers. Sony Bank will continue to expand its products and services to meet the lifelong funding needs of its individual customers.

Note: Customers with existing card loan agreements may continue using card loans as in the past.

Note: This is an English-language summary of a Japanese announcement made by Sony Bank on July 13, 2015. The summary was prepared by Sony Financial Holdings solely for convenience of non-Japanese readers.