Nihon-Jikara Yen Deposit

Booking for Nihon-Jikara Yen Deposit is currently not available.

In the case advanced maturity does not apply, average interest rate of 10-year deposit is up to 2.625% p.a. (2.1% p.a. after tax), at least 0.650% p.a. (0.52% p.a. after tax)

In the case advanced maturity applies (depending on the stock price movement), deposit matures in 1 year. Initial interest rate at 1.5% p.a. (1.2% p.a. after tax)

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Interest is as of August 4, 2006 (before tax).

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If the "stock price index" on any "interest calculation date" is equal to, or higher than 115% of the reference stock price index, the deposit will be redeemed early, on the first interest payment day subsequent.

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If the "stock price index" on any "interest calculation date" is from 100% to less than 115% of the reference stock price index, the applicable interest shall be the rate applied in the previous interest calculation period, plus 0.25%. If it is less than 100%, the applicable rate shall be the rate applied in the previous interest calculation period minus 0.25%. However, the lowest interest rate is 0.3% p.a. (0.24% p.a. after tax).

As of September 1, 2006

1. Product

Nihon-Jikara Yen Deposit
Structured Deposit Yen Time Deposit with special advanced maturity (up to ten years maturity)
Linked with stock price index, step type

2. Eligibility

Individual customers with PowerFlex accounts

3. Currency

Yen

4. Term

Ten years¹.
Advanced maturity may apply as stated below on 10. However, rollover at maturity is not an option.

1. This product is available for a prescribed booking period. The "final maturity date" will be ten years from the first business day after the booking period for the product closes. Please confirm the actual deposit date and final maturity date at deposit.

5. Transaction cancellation

Should there be no announcement of a "stock price index" (the closing price of the Nikkei 225 index announced by Nihon Keizai Shimbun Inc.) on the "calculation date of reference stock price index,"² the principal will be credited in a lump sum into the PowerFlex Yen savings account post-dated to the deposit date.

2. This date is set at the time of deposit.

6. Deposit method

Lump-sum transferred from a PowerFlex yen savings account.

7. Minimum deposit and units

Deposit at Financial Centers	3,000,000 yen in units of 1 yen
Deposit using PowerCall (telephone banking)	3,000,000 yen in units of 1 yen
Deposit using PowerDirect (online banking)	1,000,000 yen in units of 1 yen

8. Withdrawals

As stated in item 10, depending on whether there is advanced maturity in effect, principal will be deposited in a lump sum into the PowerFlex Yen savings account after either the final maturity date or the advanced maturity date.

9. Interest rate

1st interest calculation period

The first interest calculation period is from the deposit date to the preceding day of 1 year after the "calculation date of reference stock price index"³. Pre determined interest rate (fix) at deposit will be applied.

3. If the "calculation date of reference stock price index" corresponds to a public holiday in Tokyo, the following business day will be the first date of interest calculation period. If this following business day falls within the next month, the first date of interest calculation period will be on the business day 1 day prior to this corresponding day. The same applies to the following.

From 2nd interest calculation period onward

The interest calculation period is from the following day of the previous interest calculation period to the prior day of 1 year after the "calculation date of reference stock price index"³.

<Interest calculation method>
If the "stock price index" on the "interest calculation date", (day that is five days prior to the first day of each interest calculation period) is equal to, or above the "reference stock price index"⁴, the interest rate applied in the previous interest calculation period, plus a certain rate set by the Bank, will apply for the following interest calculation period.

On the other hand, if the "stock price index" on the "interest calculation date" is less than the "reference stock price index", the interest rate applied in the previous interest calculation period, minus a certain rate set by the Bank will apply for the following interest calculation period. The minimum interest rate is 0.30% p.a. (before tax).

4. Reference stock price index is a stock price index on the "calculation date of reference stock price index".

If there is no announcement of the "closing price of the Nikkei 225 index", the first price index announced afterwards would be used. In case no announcement is made until the interest calculation period, t the interest rate applied in the previous interest calculation period minus a certain rate set by the Bank will apply. Further details are available at Bank counters or from PowerCall (telephone banking).

10. Advanced maturity

If the "stock price index" on "interest calculation date" is equal to, or higher than the trigger level, (115% of "reference stock price index") the deposit will be redeemed early.

11. Interest payment

Interest will be paid into your PowerFlex Yen savings account on the same day every year of the "calculation date of reference stock price index" or on the final maturity date (or on the advanced maturity date if early redemption applies). If the interest payment date corresponds to a Shinsei Bank holiday, the interest will be paid on the following business day. Should the interest payment date fall within the following month, interest shall be paid on the previous business day.
Further details are available at Bank counters or from PowerCall (telephone banking).

12. Interest calculation method

Each interest calculation is in units of 1 yen on a 365-day-a-year basis.
Fractions are rounded down to the nearest whole number.

13. Cancellation

In principle, cancellation is not permitted before maturity.
If we find it necessary to accept a cancellation before maturity, we will cancel the deposit and any additional amount, and will deduct the cost of restructuring the deposit and other costs incurred by the Bank for the period from cancellation to maturity. The remainder will be credited to your PowerFlex Yen savings account.
Please note that in this case, your principal is not guaranteed.

14. Deposit insurance

Covered by deposit insurance.

15. Tax

20% withholding tax is deducted from the interest.

16. Overdrafts

It is not possible to have an overdraft with a PowerFlex account.

17. Other important terms

Results for interest rates and advanced maturity determination one year after the first interest calculation please check the "report sheet" which is delivered separately after the interest rate is determined.
Intellectual property rights, such as copyrights and all other rights related to the Nikkei 225 index, belong to Nikkei Keizai Shimbun Inc. However, Nihon Keizai Shimbun Inc. does not guarantee this product.
The "Nikkei 225 Index" is a copyrighted work calculated by a proprietary method developed by Nihon Keizai Shimbun, Inc., which owns the copyright and all other intellectual property rights to the "Nikkei 225 Index," along with the calculation method.
The trademarks and all other intellectual property right to trademarks indicating "Nikkei" or the "Nikkei 225 Index" belong to Nihon Keizai Shimbun, Inc.
Nihon-Jikara Yen Deposit is a product managed under the liability of Shinsei Bank, Ltd.; and Nihon Keizai Shimbun, Inc. is not responsible for whatsoever for the management of, or trade in, this product.
Nihon Keizai Shimbun, Inc. undertakes no obligation for continued publication of the "Nikkei 225 Index", and is not responsible for errors in, delays or cessation of, the publication.
Nihon Keizai Shimbun, Inc. has the authority to revise the components, the calculation method and other aspects of the "Nikkei 225 Index," as well as to cease the publication of the "Nikkei 225 Index."

The English translation used in the product descriptions are intended solely for customer convenience, and shall be used as for reference only. Should there be any discrepancy between the Japanese and the English text, the Japanese text shall take precedence.

Some of our financial products are subject to risk, including possible loss of the principal amount invested. Before purchasing any of our financial products please ensure you carefully read and understand the relevant product description in Japanese. The product description provides details of the risks, fees, and charges etc. that each product entails.