In a bid to offer higher returns to risk-averse investors, the Japanese branch of Citibank, N.A. said Wednesday it plans to launch a new yen-based time deposit linked to the benchmark Nikkei average.
By guaranteeing the principal on the deposit and offering a maximum annual interest rate of 10 percent, Citibank hopes to attract accounts in a nation that has cultivated a distrust toward the stock market that rock-bottom interest rates have failed to soothe.
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