Japanese banks raise term and savings deposit rates

Kitau Bank announced that it will increase its term‑deposit interest rates starting on 3 August, adjusting the rates in response to recent Bank of Japan policy moves. The change is part of a broader effort to align with market‑wide interest‑rate trends.

Nomura Securities, through its affiliate Nomura Trust Bank, said it will raise yen‑deposit rates effective 1 July. Ordinary savings rates will rise to 0.40 % (from 0.30 %) and the “Anshin Sweep” product to 0.85 %. Term‑deposit rates will also be lifted, reaching up to 1.00 % for three‑year deposits. Both institutions expect the adjustments to increase interest earnings for their customers.

These coordinated rate hikes reflect Japanese financial firms’ response to the central bank’s tightening cycle and aim to attract and retain depositors in a low‑rate environment.