Interest rate of 2-10 years’ term deposit on Mega Banks in Japan has Dicreaaed again yesterday.
Until the day before yesterday, the rate was 0.02%.
Since yesterday(February 15, 2016), it has chenged to 0.001%.
What this mean is…
Please imagine that you would deposit 100,000 Japanese Yen:USD880.
In addition, “20% Interest Tax” will be deducted from the total interest amount without fail.
However, number unit of under 0 is no there in Japan at the present, and the amount of under 0 would be deducted, so….
You will get honorable 0(zero) interest from the bank account in Japan, i.e. You can get NOTHING from them even though you would deposit USD880 for years.
At present, interest of term deposit in India is above 4%, so 400 times are difference between both interest……
You would better to quit to deposit any money Japanese banks in your life…because they only take and they never rewards anything……
This fact proves that Japan economy is almost dying…….