From Yen to SGD: Savings Options for Japanese in Singapore

Are you a Japanese looking for investment options in Singapore?

In Singapore, there is a diverse range of investment options, retirement plans, protection coverage insurance, and wealth accumulation options available for Japanese nationals (expatriates, locally hired, or pass holders) to counter the low deposit interest rates in Japan.

Given that Japan’s deposit interest rate was 0% in May 2022, averaged 0.01% from 2022 to 2024, and peaked at 0.12% in October 2024, your money’s growth potential in a Japanese bank savings account is limited. Can you combat inflation with the rates offered by Japanese banks? The answer is most likely no.

Can I grow my money to fight inflation in Singapore instead?

Absolutely! There are numerous savings and investment options in Singapore designed to help you grow and maximize your wealth, tailored to different life stages, including investment needs, retirement planning, maternity plans, and education planning for your children.

Our team of seasoned advisors, with years of experience in the finance industry, are ready to provide you with a personalized financial plan, mapping out a unique path to a fulfilling life.

Why Japanese individuals will prefer to save in Singapore?

There are several reasons why Japanese nationals might prefer saving in Singapore over transferring money back to Japan.

Tax Efficiency

Singapore provides a more favorable tax environment than Japan. Interest income and capital gains often enjoy lower taxes or are even tax-exempt in Singapore, making it an attractive option for investors aiming to grow their wealth. In contrast, Japan imposes relatively high taxes on financial income.

Currency Diversification

Keeping savings in Singapore allows individuals to hold assets in a stable currency like the Singapore dollar (SGD), which can serve as a hedge against fluctuations in the Japanese yen (JPY).

Investment Opportunities

Singapore, as a major financial hub, offers access to a diverse range of global investment products, including funds and assets that might not be readily available in Japan. Japanese Investors in Singapore can explore international markets as investment options or even restricted markets that is only open up to Accredited Investors, potentially enhancing the returns on their savings.

Economic Stability

Singapore is recognized as a stable financial center, boasting strong regulatory oversight and a reliable banking system. This stability offers confidence to individuals seeking to protect their wealth.

Confidentiality and Privacy

Historically, Singapore has been recognized for its banking confidentiality, which attracts individuals who prefer to keep their financial transactions discreet.

These factors combined make Singapore an attractive destination for Japanese investors and individuals looking to manage or grow their savings efficiently.

What are options are available to help you optimize your wealth?

Singapore offers a wide range of investment options and insurance products, including Investment Linked Policies (ILPs), Life Insurance, Health Insurance, Endowment and Savings Plans and General Insurance (e.g., car, home, travel).

You may click to below links to find out more on the options available and get a quote from us with no charges.

Compare Best Savings Endowment Plans in Singapore – InterestGuru
Compare Best Investment Linked Policy (ILP) in Singapore – InterestGuru
Compare Best Retirement Plans in Singapore – InterestGuru

InterestGuru partners with a wide range of insurers and investment platforms in Singapore, including Manulife, Tokio Marine, Singlife, and more. For investment platforms, we offer access to iFAST, Grow with Singlife, and others. Submit your enquiry via the form below, and one of our expert advisors will reach out to you shortly.