Savings

What you'll learn in this guide Which Japanese savings accounts pay the highest interest in 2025 Which accounts foreigners can actually open (eligibility by visa type) How Japanese bank interest rates compare to your home country Step-by-step process for opening each account How to transfer savings abroad efficiently using Wise Japan’s interest rates have been near zero for decades — but 2024–2025 brought a significant shift. The Bank of Japan raised rates for the first time since 2007, and savings account rates are now meaningfully above zero. If you’re keeping yen in a Japanese account, choosing the right bank matters more than it did a few years ago. ...

Furusato Nozei — hometown tax — is one of Japan’s best-kept money-saving secrets, and most foreigners who pay residence tax here have no idea they’re eligible. Done right, you can receive thousands of yen in local goods and products at essentially no net cost. Here’s how it works. How It Works You donate to any municipality in Japan (not your own) The municipality sends you a gift (返礼品) — usually food, drink, local products You deduct the donation from your income tax and residence tax — minus a ¥2,000 personal contribution Net cost to you: ¥2,000 total, regardless of how much you donate (up to your limit) Example: You donate ¥50,000 to a municipality in Hokkaido. They send you ¥15,000 worth of crab and beef. You deduct ¥48,000 from your taxes (¥50,000 – ¥2,000). Your net cost: ¥2,000 + the money you already owed in taxes anyway. ...