Hello there,
My salary is currently being transferred into a Yucho Bank account, but I want to put most of that sum into a savings account, since otherwise it’s pretty much just going to get eaten away by inflation.
I’ve heard that interest rates in Japan are abysmal, but I’m hesitant towards buying stocks since I don’t know the slightest thing about investing, so I’m afraid that putting the money away is my only avenue. If there are any decent options you guys know of, I’d be really grateful if you could let me know. Thanks!
10 comments
I was a mufg few months ago and they were advertising an amazing 0.01% interest rate for 10 years deposit with 1M yen minimum.
Nah, you’re not gonna find any decent savings accounts here.
You won’t find much in terms of any good interest rates in JPY, but putting your money into index funds is probably the closest thing you can get to having a savings account grow as long as you can accept it’s going to be a long-term thing and you might have some loss in the short-term.
Nope. NISA or a bank account back home.
If I was in your shoes, I’d open an account at Rakuten or SBI. Buy a low cost all-world equity fund. Buy a little bit – as much as you feel comfortable investing- each and every month.
If you get comfortable with it, you can look at other LOW COST funds – maybe emerging market equities or commodities etc.
I don’t think there is any viable mutual fund / deposit etc. investment in Japan, so what I’ve been doing is sending money to my account back home every few months, and use local platforms to invest. Much better with 3~5% APY (compared to Japan’s what… 0.0001%?)
Dogen has a skit about this.
You’re not American are you? It’s pretty difficult to invest if you are in Japan
nisa 2024 should be pretty decent.
I saved 4 years for emergency fund and planning to start nisa on 2024.
Interest rates are low, but in return they won’t fuck with your money indiscriminately like back in the US. It’s literally a hole to put your money safely in, it’s not for investing.
Butt in reverse, I signed a fixed mortgage for my house at 0.23%. *
Zero.
Point.
Two.
Fucking.
Three.
( * see my comment below. The bank rate itself was 0.83 fixed, but first ten years were dropped by 0.6 by a building safety certificate)
I use Nomura shouken to invest into foreign funds with ~35% invested into Japanese funds and bonds for stability.
They have offices all around Tokyo so you can easily go and see for yourself if it fits your needs.