Shizuoka Bank, Shimizu Bank and Suruga Bank will raise their ordinary deposit rates to 0.4%, effective from 3 August. The move follows the Bank of Japan's indication at its Monetary Policy Meeting of a policy toward higher interest rates.
Shizuoka Bank (Aoi Ward, Shizuoka), Shimizu Bank (Shimizu Ward, Shizuoka) and Suruga Bank (Numazu) announced that they would raise ordinary deposit rates from 0.3% to 0.4%. The new rates will take effect on 3 August 2026, and each bank will apply them from that date.
The decision follows reports that the Bank of Japan decided at its Monetary Policy Meeting on the 16th to raise its policy rate to around 1.0%, and is viewed as part of the response to the shift in monetary policy.
The rate increase will be implemented simultaneously by major financial institutions in Shizuoka Prefecture as a move toward higher interest rates on individuals' ordinary deposits. As the terms offered by each bank may still vary depending on deposit balances and contract conditions, customers are expected to check the information provided by their respective bank.
The announcement is based on official releases from each of the three banks. While it is viewed as potentially improving the regional economy and the convenience of deposit accounts, developments in interest rates will require close attention.