P5 News

Shonan Tax Office No.151

April 2002

Savings Account

Pay off system has been opened since April 1^st.　Pay off system is that if the bank is bankrupt, the government saves deposit.　The government pays all deposit; however, pay off system has opened.　That is the government guarantees to pay only 10,000,000 yen and its interest.　As a result, depositors must have own responsibility to choose banks.　One of countermeasures is to put money in several banks.　Moreover, depositors should study it which banks are more substantial.　In other words, a substantial bank is less likely to bankrupt.　Many monetary facilities nowadays have reduced rate of interest extremely because savings deposit increased.　The rate of interest is low in Japan, so it might not matter with almost all people.

Rate of interest of savings deposit.　April 1^st at present

Average of the whole country　0,009%

　Highest　0,05%

　Lowest　 0,001%

Rate of interest of monetary facilities

(Rate %) (Ranking)

Bank of Tokyo Mitsubishi 0,001 A2

Johnan Shinkin Bank 0,001

UFJ Bank 0,001 A3

Bank of Yokohama 0,001 Baa2

SURUGA Bank 0,001 A3

TRI Bank Miura Fujisawa 0,01

Asahi Bank 0,02 Baa3

Sumitomo Mitsui Banking Corporation 0,02 A3

Shonan Shinkin Bank 0,02

Mizuho Bank 0,02 A3

Sony Bank 0,05

Post Office 0,01

Information for rate of interest is http://biz.yahoo.co.jp/rate/