Zero interest rate cancellation, where should we deposit less deposits?

Money transactions are not specialized, but in response to the zero interest rate being canceled, I decided to consider where to move my ordinary deposit. Unlike time deposits, the rate of increase in ordinary deposit interest rates is the highest.

Probably each bank will start announcing one after another on Tuesday, July 18, but already several banks have announced the interest rate of the savings deposit interest rate, let's compare. Differences have already begun depending on banks. It might be that things like 'Even if you deposit anywhere, interest rates are the same'.
There are four banks that can be compared at this time. I will look at the time series that I announced. We are comparing with the ordinary deposit rate after tax.

1. Shinsei Bank

Regarding interest rate setting and interest rate revision by yen balance bank balance(PDF file)

Start date: From 1 August 2006 (Tue)
Less than 1 million yen: 0.008% per year
1 million yen or more and less than 3 million yen: 0.08% per year
3 million yen or more and less than 10 million yen: 0.12% per year
Over 10 million yen: 0.20% per year

2. Seongnam Shinkin Bank

Deposit interest rate list

Start date: Friday, July 14, 2006
Year 0.08%

3. Sony Bank

Notice of raising interest rate on Yen Savings Deposit(PDF file 224 KB)

Start date: From Tuesday, July 18, 2006
Year 0.160%

4. Sumitomo Trust

About raising deposit interest rate(PDF file)

Start date: From Tuesday, July 18, 2006
Year 0.160%

In this way the pattern is simple.

· Less than 10 million yen
Sony Bank or Sumitomo Trust Bank (0.160% per year)

· 10 million yen or more
Shinsei Bank (0.20% per year)

If the money put in the savings account at all times does not break 1 million yen at all times, it can surely secure about 1600 yen per year at least. It is about 133 yen per month, but it is far better than the very low interest rate so far.

In addition, when interest rates are attached with ordinary deposits, since it is not subject to protection if it is over 10 million yen, those who divide into multiple bank accounts by less than 10 million yen will be allocated to each bank raised here Well, still liquid property can be secured. Well, if there are 10 million yen or more, there is a way to invest time deposit or investment, so it will not be very helpful.

As such, it is important to note the savings on ordinary deposits and time deposit rates announced by each bank from tomorrow.