The 77 Bank and The Sendai Bank will raise their time deposit interest rates, with both reaching 1.0% for the longest term of 5 years and 0.54% for the shortest term of 1 month. The new rates will take effect from the 2nd and 4th, respectively.
The 77 Bank and The Sendai Bank announced that they will raise their time deposit interest rates. The revised rates will vary depending on the deposit term, with the longest term of 5 years reaching 1.0% at both banks after increases of 0.25% and 0.2%, respectively.
The shortest term of 1 month will rise by 0.12% to 0.54%. The 77 Bank will apply the new rates from the 2nd, and The Sendai Bank from the 4th.
The measures follow the Bank of Japan's interest rate hike, and mark the first increase in time deposit rates at both banks since August.