Time deposit in multiple tranches?

[ChapInTokyo]

I just noticed that SBI Shinsei is offering a 1.2% interest rate on their 5 year time deposit (JPY) accounts.

Is it possible to make a deposit in multiple tranches so that if I need to dip into some of it before the term is up I will have access to a part of the total stash without incurring a penalty on the entire amount?

Thanks!

[Deep Blue]

I expect you could simply open multiple time deposits.

[ChapInTokyo]

I expect you could simply open multiple time deposits.

Hey thanks. I just logged in, and transferred three tranches of 300,000 yen each to their 5 year time deposit. It was pretty straightforward.

[ChapInTokyo]

I expect you could simply open multiple time deposits.

Hey thanks. I just logged in, and transferred three tranches of 300,000 yen each to their 5 year time deposit. It was pretty straightforward.

Timely article in the Nikkei this morning.

The article was about the international ratings agencies like S&P Global Ratings and Moodies possibly getting closer to downgrading the ratings of JGBs and of that having a knock on effect on borrowing costs for Japanese banks and corporations.

The article noted that both the Aozora Bank and SBI Shinsei Bank’s corporate bonds are currently rated BBB so they’re only two downgrades away from being rated as junk bonds.

So… I guess there’s a good reason for banks like Aozora and SBI Shinsei are offering these high interest rates on their time deposits!