Step Up Program

Step Up Program

• This page has been prepared for the purpose of providing information on "Step Up Program", and not for the purpose of soliciting foreign currency deposits, structured deposits, insurance products, home mortgages, financial products trading, or financial products brokerage services.
• The eligibility requirements, services, and service period, etc. of this program may be changed or discontinued without prior notice. (The services described here are available as of June 1, 2024.)
• For more details, such as detailed terms and conditions, please check our Step Up Program brochures available in our branch or our website.
• Some products eligible for this program entail the risk of loss of principal due to price fluctuations arising from movement of interest rates, share prices, and foreign exchange rates, etc. and due to cancellation (their principal amount may fall significantly below the amount invested, depending on market trends, etc.), carry the risk of issuer's credit, or charge fees and expenses specified by each product (the amount or maximum amount of fees and expenses by product and their total amount cannot be indicated in advance as they depend on the product purchased, the amount invested, the investment performance, and the period for which the customer holds the product). Before concluding the contract, please read "cautionary notes," "pre-contract documents," and "prospectus," etc. that are available at the branch counter and online and fully understand and acknowledge risks, fees, and expenses. Customers bear full responsibility for their investment decision.

Regarding preferential treatment of home mortgage handling fee

The preferential administrative handling fees as per customer's stage will be confirmed at the time when the Bank accepts the application form the customer (・Postal mail: at the time the bank receives the postal mail. ・Branch: at the time the bank receives the application form), Please note the preferential treatment of administrative handling fees for home mortgages will vary according to the customer's stage at the time of the application.

1. Customers without a PowerFlex account at the time of application for home mortgage will not be applicable for preferential treatment of administrative handling fees.
2. Customers who have newly opened an PowerFlex account will automatically be placed in the Platinum Stage from the month they have opened the account for 6 months (e.g., If the account was opened on January 10th, the Platinum stage will be valid till June 30th.) （i.e. the initial account opening period). However, preferential treatment of administrative handling fees for Platinum customers will not be applicable for customers during the initial account opening period.

Regarding foreign currency deposits

• As the conversion rates of foreign currencies into yen (foreign exchange rates) fluctuate, foreign exchange deposits carry a risk of loss of yen denominated principal resulting from exchange rate fluctuations when converting foreign currencies back into yen.
• In the event of high market volatility, system malfunctions, etc., the foreign exchange rates applied by the Bank may differ significantly from prevailing market rates. Customers are urged to confirm the foreign exchange rates to be applied to any such transactions.
• Foreign exchange fees apply when depositing/withdrawing yen into/out of foreign currency accounts. Unconventional currency exchange fees may be applied in the event of drastic foreign exchange rate fluctuations or when major markets are closed. The maximum rates of such one-way exchange fees and round-turn exchange fees are 5.5 yen per unit and 11 yen per unit respectively. For a direct non-yen cross currency exchange, the foreign exchange fees will be 0.02 multiplied by one of the currencies.
• There is a risk of loss of yen denominated principal due to the application of foreign currency exchange fees and applied interest rates, even if foreign exchange rates do not fluctuate.
• Preferred rates of Step Up program are applied to transactions changing yen to a foreign currency and vice versa. (n.b. Preferred rates are not applicable to transactions between non yen foreign currencies or when the outstanding foreign currencies balance is converted to yen as part of closing an account. Additionally, preferred rates are not applicable in exchanging currencies or paying interest in the PowerSupport Plus program, or purchasing foreign currencies through the PowerBuilder program.)
• Foreign currency deposits are not guaranteed by deposit insurance.
• In principle, foreign currency denominated time deposits may not be cancelled before maturity. However, in the event the Bank recognizes extraordinary circumstances and deems the cancellation of foreign currency denominated time deposits before maturity as unavoidable, only principal amounts will be refunded (interest thereon will not be honored).
• Interest is subject to 20.315% withholding tax (national tax 15.315% and local tax 5%). The fractional figure of the after-tax interest rate shall be rounded down.
• Principal and interest of foreign currency time deposits shall be credited into PowerFlex savings deposits of the same currency on the maturity date without converting into another currency. The savings deposit interest rate for the same currency will be applied on and after the maturity date.
• Cash in foreign currencies and foreign currency remittances are not available at our branches.
• Fees will be charged for foreign currency remittances.
• Handling Fee will be charged for incoming foreign exchange remittances.
• Application to GoRemit overseas remittance service must be made before making foreign currency remittances.
• Before investing in foreign currency deposits customers should carefully read the product description of foreign currency deposits (pre-contract document) that is available in the Bank branches and online so that they can fully understand characteristics of the foreign currency deposits.

GAICA Prepaid Card

• GAICA Prepaid Card (hereinafter the "Card") is the services which APLUS Co., Ltd. (hereinafter "APLUS") provides, and is not a product of SBI Shinsei Bank, Limited (hereinafter the "Bank").
• The Card is not a product provided for remittances carried out by banks, etc. including the Bank.
• The Card does not constitute the acceptance of deposits, savings, or installment savings. (You can't load cash directly.)
• The Card is not subject to the payment of insurance prescribed in the Deposit Insurance Act or in the Agricultural and Fishery Cooperation Savings Insurance Act.
• A system of security deposits for providing the services with the Card (hereinafter "Security Deposits") is established under the Payment Services Act in order to ensure the protection of the Members*. *The term "Member" shall refer to the person whom APLUS provides with the Card and authorizes to use the Card. APLUS makes a Security Deposit as follows for the issuance of the Card.
  - Method of a statutory deposit: Money
  - Official depository: the Osaka Legal Affairs Bureau
• The Members shall have the right to receive payments with regard to the amount of the remaining balance on the Card for the return of Security Deposit in the procedures related to the execution of the right under the Payment Service Act.
• After issuing the Card, all transactions effected through the use of the Card are handled only by APLUS, and the Bank shall not take any responsibility whatsoever. Regarding transactions with the Card and the important information such as fee schedule of the Card, visit the APLUS website. For inquiries or questions, please contact APLUS.

Regarding Yen Deposit

Interest is subject to 20.315% withholding tax (national tax 15.315% and local tax 5%).

• The fractional figure of the after-tax interest rate shall be rounded down.