🔑 Key Takeaway: SBI Shinsei Bank pairs competitive variable rates with a low ¥3M income threshold and notably low fees — making it one of the better-value lenders for foreign residents. The catch is partial, inconsistent English support, so non-PR applicants generally need a strong profile (3+ years residency) and some Japanese-language capability.
SBI Shinsei Bank sits in a sweet spot for many foreign buyers: cheaper than SMBC Prestia, more accessible than the online-only Japanese-language banks, and willing to consider non-permanent residents case-by-case. This guide explains exactly what to expect in 2026.
For how Shinsei compares to Prestia, Resona, and the mega-banks, see our full bank-by-bank mortgage comparison.
What Is SBI Shinsei Bank?
Shinsei Bank was created from the restructured Long-Term Credit Bank of Japan and built a reputation as a technology-forward, online-first lender. In 2021 it joined the SBI Group, becoming SBI Shinsei Bank. Its mortgage products are known for competitive variable rates, low transaction fees, and a streamlined online application — qualities that make it popular with cost-conscious borrowers.
Who Is Eligible for an SBI Shinsei Mortgage?
| Borrower profile | Eligibility |
|---|---|
| Permanent residents (永住権) | Fully supported, best terms |
| Non-permanent residents | Accepted case-by-case (typically 3+ years residency) |
| Japanese nationals | Fully supported |
| Non-residents (living abroad) | Not available |
Typical requirements:
- Residency: 3+ years preferred for non-PR applicants
- Minimum income: Approximately ¥3 million per year — lower than SMBC Prestia
- Down payment: Flexible; as low as ~10% for well-qualified PR holders, higher for non-PR
- Age: Loan repaid by age 80 (standard)
- Employment: Stable employment history strengthens case-by-case approval
Shinsei does not publish guaranteed acceptance criteria for non-PR applicants — each case is assessed individually. A strong, well-documented profile is essential.
Shinsei Mortgage Rates and Products in 2026
Shinsei is consistently among the most competitive brick-and-mortar lenders on variable rates:
| Product | Indicative positioning |
|---|---|
| Variable (変動) | Among the lowest from a staffed bank |
| Fixed-period (固定 1/3/5/7/10/15/20 years) | Wide range of tenors |
| Step-up / hybrid | Available |
Notable features:
- Low transaction fees relative to peers
- No-fee mortgage transfer (借り換え) — Shinsei is a popular choice for refinancing an existing Japanese mortgage to a lower rate
- A broad menu of fixed-rate tenors for borrowers who want partial rate certainty
Variable rates track Bank of Japan policy. Understand the rate-risk trade-off before choosing variable — see our Japan mortgage rates 2026 guide.
Strengths and Considerations
Strengths:
- Competitive variable rates — often the lowest available from a staffed bank
- Lower ¥3M income threshold than SMBC Prestia, broadening access
- Low fees and fee-free refinancing, valuable for long-term cost
- Online-first application reduces paperwork and branch visits
Considerations:
- English support is inconsistent — some branches and call-center agents handle English well, others don't
- Non-PR approval is case-by-case with no guaranteed criteria
- Online-first model means less hand-holding than Prestia's advisor-led process
SBI Shinsei vs. SMBC Prestia: Which Should a Foreigner Choose?
| Factor | SBI Shinsei | SMBC Prestia |
|---|---|---|
| English support | Partial / inconsistent | Full |
| Minimum income | ~¥3M | ~¥5M |
| Variable rate | Lower | Mid-market |
| Non-PR friendliness | Case-by-case | Strong |
| Best for | Cost-focused, some Japanese ability | English-only, non-standard income |
In short: choose Shinsei to minimize rate and fees if you can navigate a partly Japanese-language process; choose Prestia for the smoothest English experience if you'll pay a small premium for it. Many foreign buyers get pre-screened at both.
How to Apply
- Pre-screening (事前審査) online with basic income, employment, and property details.
- Open or link a Shinsei account as part of the relationship.
- Formal application (本審査) with full documentation after your offer is accepted.
- Loan agreement + group credit life insurance (団信).
- Disbursement at settlement, coordinated with the judicial scrivener (司法書士).
For the complete document checklist and timeline (lender-agnostic), see our mortgage application guide.
Frequently Asked Questions
Does SBI Shinsei Bank give mortgages to foreigners?
Yes. SBI Shinsei accepts permanent residents fully and considers non-permanent residents on a case-by-case basis, typically requiring 3+ years of residency and a minimum income around ¥3 million. Each non-PR application is assessed individually, so a strong, well-documented profile matters.
Is Shinsei cheaper than SMBC Prestia for a mortgage?
Generally, yes — Shinsei is among the most competitive staffed banks on variable rates and has a lower ¥3M income threshold and low fees. The trade-off is partial, inconsistent English support versus Prestia's fully English process. Cost-focused borrowers who can handle some Japanese often prefer Shinsei.
Does Shinsei offer mortgage refinancing for foreigners?
Yes. Shinsei is a popular choice for refinancing (借り換え) existing Japanese mortgages, thanks to its low transaction fees and fee-free mortgage transfer. Eligibility still depends on residency status and income at the time of application.
What is the minimum income for a Shinsei mortgage?
Approximately ¥3 million per year — lower than SMBC Prestia's ~¥5 million. This makes Shinsei accessible to younger or lower-income borrowers, though non-PR applicants still need a stable employment history and are assessed case-by-case.
Is the Shinsei mortgage process available in English?
Partially. Shinsei offers English online banking tools, but mortgage support in English is inconsistent across branches and call-center staff. Non-PR foreign applicants generally benefit from some Japanese-language ability or a Japanese-speaking helper. For a fully English process, SMBC Prestia is more reliable.
Related Articles
- Japanese Banks & Mortgages for Foreigners: Full Comparison →
- SMBC Prestia Mortgage Guide for Foreigners →
- Sony Bank Mortgage Guide for Foreigners →
- Can a Foreigner Get a Mortgage Without Permanent Residency? →
- Japan Mortgage Application: Documents & Timeline →
- Japan Mortgage Calculator for Foreign Buyers →
Disclaimer
This article is for informational purposes only and is not affiliated with or endorsed by SBI Shinsei Bank or the SBI Group. It does not constitute financial, legal, or tax advice. Product availability, eligibility, interest rates, and fees change frequently and are determined solely by the bank on an individual basis. Figures reflect general market conditions as of June 2026. Always confirm current terms directly with SBI Shinsei Bank and consult a qualified advisor.