Received a solicitation from a Japanese bank for this savings product:
It’s a 1 year CD.
It’s renewable at bank’s option only, for 1 year at a time, up to 15 years.
The APR is 31 basis points.
They will also generously pay you somewhere between 30 and 50 bps in cash for buying.
It’s a 1 year CD.
It’s renewable at bank’s option only, for 1 year at a time, up to 15 years.
The APR is 31 basis points.
They will also generously pay you somewhere between 30 and 50 bps in cash for buying.
I am glad I am not the product manager for that product.
This is designed to be sold to unsophisticated retail savers, he says unnecessarily.
Whoopsie overestimated the cashback by 10X; even less good.
