An ‘Abnormally’ Good Interest Deal in Low-Rates Japan Just Got Canceled

A Japanese electronics retailer was forced to cancel a generous cashback program on launch day after it was overwhelmed with applications.

Due to start Monday, Yamada Holdings Co. had advertised a campaign that gave a 10% return on savings deposits at Yamada Neobank, in the form of points that could be spent at its popular retail chain. Japanese posters on X.com wrote excitedly that the points-back benefits could amount to an 18.5% return over 12 months — unheard of in Japan’s ultra-low interest rate environment.