Rakuten Bank Raises 1-Year CD Rate to 1.20% in June 09 Bonus Campaign

Rakuten Bank launched the second phase of its summer bonus campaign on June 8, offering 1-year yen deposits at 1.20% annual interest through July 31. The rate is triple the standard 0.40% rate. A 300 million yen deposit earns ¥28,680 in after-tax interest over one year. The campaign follows phase 1, which offered 1.00% on 6-month deposits starting May 22.

Campaign Details and Rate Comparison

The 1-year certificate of deposit earns 1.20% before tax, or 0.956% after tax. The standard rate is 0.40% before tax, or 0.318% after tax. Investors can deposit as little as 1,000 yen. The campaign runs from June 8 to July 31, 2026. After maturity, interest rates depend on the renewal option selected at deposit time.

How Much Interest You Earn

A 300 million yen deposit generates ¥28,680 in after-tax interest over 12 months. Tax on interest is 20.315%, split between national tax at 15.315% and local tax at 5%. Interest rates may change without notice based on financial conditions. The bank notes that campaign terms can change if total deposits reach a set limit.

What This Means for 5838.T Investors

Rakuten Bank stock trades at ¥5,103, down 1.64% today but up 8.18% over five days. Meyka rates the stock B+ with a 12-month price target of ¥9,439, suggesting 85% upside. The deposit campaign attracts customer funds, which banks use to fund lending and investment operations. Higher deposit rates signal competitive pressure in Japan’s low-rate environment.

Why Rates Are Rising Now

Japanese interest rates remain low by global standards. Banks offer higher rates on fixed deposits to attract customer savings. The summer bonus timing targets workers who receive bonus payments in June. Rakuten Bank competes with traditional banks and other online banks for deposit market share.

Final Thoughts

Rakuten Bank’s 1.20% rate on 1-year deposits is three times the standard rate, making it attractive for savers. With Meyka rating 5838.T a B+ and targeting ¥9,439, higher deposit rates support the bank’s competitive position and customer acquisition strategy.

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The content shared by Meyka AI PTY LTD is solely for research and informational purposes.  Meyka is not a financial advisory service, and the information provided should not be considered investment or trading advice.