Japan Post Bank doubles savings cap

Customers can now deposit larger sums of money.

Japan Post Bank is raising the cap on its postal savings account to $236,054 (JPY26m) per customer from $118,027 (JPY13m), reports Japan Post. 

The latest increase will allow customers to deposit a larger sum of money including retirement pay. 

This marks the first increase in the cap since it was first raised by $27,237 (JPY3m) in April 2016 and comes amidst calls from the government for a higher savings cap amidst the privatisation of postal services.