[November 2026] Comparing Yen Time Deposit Interest Rates at Online Banks! SBI Shinsei Bank's 1.4% is the Top Choice for a 1 Million Yen Deposit

As of November 2026, I have researched the yen time deposit interest rates at online banks.

Due to the impact of rising interest rates, the number of banks offering over 1% for a 1-year time deposit is increasing.

In this article, I will compare the interest earned when depositing 1 million yen.

Comparing Yen Time Deposit Interest Rates in November 2026

I have summarized the time deposit interest rates for each bank.

Bank　　　　　　　　　　Deposit Term　　　　Interest Rate (Annual)
SBI Shinsei Bank　　　　　　　1 Year　　　　　　1.40%
Docomo SMTB Net Bank　　1 Year　　　　　　1.30%
au Jibun Bank　　　　　　6 Months　　　　　　1.27%
Sony Bank　　　　　　　　　1 Year　　　　　　1.00%
Rakuten Bank　　　　　　　　　1 Year　　　　　　0.70%

*Interest rates were confirmed as of November 2026. They may change depending on campaign rates, application conditions, and offer periods.

Among those compared this time, SBI Shinsei Bank’s 1-year time deposit at 1.4% had the highest interest rate.

Rakuten Bank is at 0.7%, which feels a bit underwhelming as it is on par with mega-banks. On the other hand, other online banks are exceeding 1%, so deposit interest rates have risen significantly.

How much interest do you get on a 1 million yen deposit?

To make the differences in interest rates easier to understand, I have calculated the interest for a 1 million yen deposit.

Bank/Deposit Term　　　　　　　　Interest Rate　　　Pre-tax Interest for 1 Year
SBI Shinsei Bank/1 Year　　　　　　　1.40%　　14,000 yen
Docomo SMTB Net Bank/1 Year　　1.30%　　13,000 yen
au Jibun Bank/6 Months　　　　　　1.27%　　12,700 yen
Sony Bank/1 Year　　　　　　　　1.00%　　10,000 yen
Rakuten Bank/1 Year　　　　　　　　　0.70%　　7,000 yen

*These are pre-tax estimates. Actual interest will vary depending on the number of deposit days and taxes. For au Jibun Bank, the interest for 6 months is listed.

With SBI Shinsei Bank, you would receive 14,000 yen in pre-tax interest by depositing 1 million yen for one year.

It is more profitable to utilize time deposits than to leave money in a regular savings account.

Docomo SMTB Net Bank offers higher interest rates based on deposit amount

Docomo SMTB Net Bank has a system where the interest rate changes depending on the deposit amount.

Deposit Amount　　　　1-Year Time Deposit Rate
Less than 3 million yen　　1.30%
3 million yen or more　　1.35%
10 million yen or more　1.45%
30 million yen or more　1.55%

The larger the deposit amount, the higher the interest rate.

Since it’s 1.55% for 30 million yen or more, it’s attractive for those depositing a significant amount of funds.

However, unfortunately, that is an amount that doesn’t really concern me (laughs).

In a rising interest rate environment, is a 6-month time deposit better than a 1-year one?

This time, what caught my attention was the question of whether it is okay to choose a 1-year time deposit when interest rates are rising.

For example, SBI Shinsei Bank’s 1-year time deposit is currently 1.4%, but four months ago in July 2026, it was 1.25%.

Since interest rates have risen even in such a short period, considering the possibility that they may rise further in the future, I think choosing a 6-month time deposit is also one approach.

In this comparison, au Jibun Bank’s 6-month time deposit is 1.27%.

The idea is to first invest for 6 months at 1.27%, and if interest rates rise further during that time, switch to a time deposit with a higher interest rate after maturity.

However, there is no guarantee that interest rates will be higher at maturity. Conversely, there is also a possibility that interest rates could fall.

There is even a high interest rate of 1.95% for a 5-year time deposit!

On the other hand, there are also attractive interest rates for long-term time deposits.

At SBI Shinsei Bank, the interest rate for a 5-year time deposit is 1.95%.

This is significantly higher than the 1.4% for a 1-year time deposit, and it is more than double the level compared to a year ago.

There is also the idea of securing a high interest rate now rather than waiting for future interest rate hikes.

However, in principle, your funds will be locked for 5 years. Since the applicable interest rate may decrease if you cancel midway, you should consider this with funds you do not plan to use for the time being.

I decided to wait and see a little longer with a 6-month time deposit

In this interest rate comparison, SBI Shinsei Bank’s 1-year time deposit at 1.4% had the highest interest rate.

While there is the option of 1.95% for a 5-year time deposit, I would like to hope for the possibility that interest rates will rise a little more.

Therefore, this time, even though the interest rate is slightly lower, I decided to deposit it into a 6-month time deposit and wait and see.

Of course, there is no guarantee that interest rates will continue to rise. If you want to secure a high interest rate for a long period, I think it is also good to choose a 1-year or 5-year time deposit.

With interest rates rising, choosing the right deposit term can be tricky.

Personally, I’m hoping for rates to go up a little more!

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