New Productions and Services

New deposit products

In the year under review, we launched a number of time deposits that offer customers both liquidity and profit potential. For example, we offered a limited-period time deposit — for the period from April to July 2000 — with an improved interest rate to commemorate the G8 heads-of-state summit. In June 2000, we introduced a time deposit for individuals that gives customers full access to their funds after six months and offers incremental increases in interest rates in proportion to the length of time funds are deposited. In February 2001, we launched a limited-period time deposit that provides premiums depending on the performance of the customer’s favorite professional baseball team.

New loan products

In August 2000, the Bank introduced an unsecured, low-interest loan in which customers can borrow up to ¥10 million. This product is aimed at customers with existing high-interest mortgage loans who are seeking to refinance. In June 2000, we launched a loan to support telecommunication and other venture businesses. In August 2000, we unveiled a loan for entrepreneurs who require funds urgently. This unsecured loan does not require a third-party guarantor. Moreover, applicants receive the Bank’s screening results the day after their application is made. In February 2001, we launched a loan for retail customers for which screening takes only 15 minutes. In August 2001, we reduced the screening time for card loan applications to 30 minutes for loan amounts up to a maximum of ¥300,000.

Improved investment trust products sold through all branches

In April 2000 we commenced the handling of investment trusts at all our branches, and in preparation for the introduction of defined-contribution pension plans in fiscal 2001, the Bank in June introduced a distributed-type investment fund that combines an investment trust with a time deposit, enabling customers to maintain a proper balance in managing their assets. In July 2000, we added to our product lineup a fund that allows customers to choose the level of risk that best suits their particular age or lifestyle.

Internet ATM service launched

In July 2000, the Bank introduced its Internet ATM Service, which allows customers to withdraw, deposit, and transfer funds using ATMs installed in convenience stores. To improve such services, and in response to customer requests, we extended the operating hours of ATMs to 2:00am on weekdays and 8:00pm on weekends and holidays.

Ryugin Money Plaza opens

In September 2000, the Bank opened its Ryugin Money Plaza to provide consulting services related to asset management and taxation. The Plaza is staffed by employees with special qualifications in various fields. A certified tax accountant is also on hand to provide advice to customers. Depending on the nature of the advice sought by customers, the Bank also engages the services of trust banks and other external institutions in its network to meet various needs.

Foreign-currency deposit service upgraded

Responding to the growing need for foreign-currency deposits, in October 2000 the Bank abolished its “lifting charge,” a component of the Bank’s foreign-currency deposit service fee. This charge was applied to transactions that did not incur yen conversions for foreign-currency fund inflows and outflows. As a result, fees for a number of transactions, such as export and import settlement and purchase of foreign-currency checks, have been reduced. We conducted a limited-period campaign from December 2000 to March 2001 that gave foreign-currency deposit customers a conversion rate ¥0.5 better than market rates when depositing funds.

Mortgage Loan Center opens on Sundays

In October 2000, the Bank extended the operating hours of its Mortgage Loan Center. In addition to the previous hours of 9:00am to 6:00pm on weekdays, the Center now is open on Sundays from 10:00am to 5:00pm. Staffed by seasoned professionals in mortgage loans, the Center provides borrowing and repayment simulations in addition to general advice on mortgage loans. In these ways, the Bank has a system in place for meeting its customers’ diversified consulting needs.

Over-the-counter sale of insurance products

Pursuant to the amendment of the Insurance Business Law in May 2000, the Bank began the over-the-counter sale of insurance products, including long-term fire insurance related to mortgage loans, in April 2001. By adding insurance products to our existing deposit, loan, government bond, and investment trust services, we are well equipped to meet the wide range of customer needs.