Topic: Banks offering only 1.3% interest rates for Savings Account - page 2. (Read 2366 times)
September 24, 2018, 02:31:01 AM
It is different from country to country and banks deposit interest is very low but it is zero risky way so due to that the income is very low but if we look overall investments like in risky projects outcome is high but you will bear some risk and for me crypto investment is more than any other form of investment for those who does not like risk banks is good for them.
September 23, 2018, 10:40:13 PM
I guess you're lucky of you can have a 1.3% per annum interest rate in your savings account on your bank. These days i see less than one percent per annum. That is why i just use banks as a sort of wallet to be withdrawn and be used for something more substantial like trading. Essentially, putting my money in a bank and letting it sleep isn't worling for me.
September 21, 2018, 10:33:12 AM
I think it is more or less the same here, not very enticing. Obviously, crypto investment can produce much higher rates, but you also have to count in the risk in those investments
i think interest offered by banks is less attractive, so it's a loss if we save money in bank. it is better indeed for investment, because interest is less than inflation that occurs September 21, 2018, 09:47:31 AM
I went to my bank today to change money to foreign currency because I will be traveling abroad soon. I asked the lady what are the current annual interest rates if you decide to give your money to bank for certain period of time without being able to withdraw that money (Savings Account).
She said proudly that zhe interest rate is 1.3% which is the highest in the country. I was holding my laugh and smiled kindly to her and I said that even 1.3% is not enough for me.
What do you guys think? I think 1.3% per year is a joke. Money can lose that much value in one year so you didn't actually profit at all. What kind of interets rates do you get at your banks?
well in my country indonesia you might got quiet good interst, its 4-6,5% for certain ammount of time. Its good and decent interest i think. She said proudly that zhe interest rate is 1.3% which is the highest in the country. I was holding my laugh and smiled kindly to her and I said that even 1.3% is not enough for me.
What do you guys think? I think 1.3% per year is a joke. Money can lose that much value in one year so you didn't actually profit at all. What kind of interets rates do you get at your banks?
September 21, 2018, 08:49:53 AM
I think it is more or less the same here, not very enticing. Obviously, crypto investment can produce much higher rates, but you also have to count in the risk in those investments
September 21, 2018, 08:07:30 AM
I went to my bank today to change money to foreign currency because I will be traveling abroad soon. I asked the lady what are the current annual interest rates if you decide to give your money to bank for certain period of time without being able to withdraw that money (Savings Account).
She said proudly that zhe interest rate is 1.3% which is the highest in the country. I was holding my laugh and smiled kindly to her and I said that even 1.3% is not enough for me.
What do you guys think? I think 1.3% per year is a joke. Money can lose that much value in one year so you didn't actually profit at all. What kind of interets rates do you get at your banks?
She said proudly that zhe interest rate is 1.3% which is the highest in the country. I was holding my laugh and smiled kindly to her and I said that even 1.3% is not enough for me.
What do you guys think? I think 1.3% per year is a joke. Money can lose that much value in one year so you didn't actually profit at all. What kind of interets rates do you get at your banks?
This rate is quite low. Which country bank is giving this rate? To comment for my own country, an average of 6% per annum is given for the TL which is our main currency. However, if the losses experienced by the TL are to be considered, this rate is going to expire every year and the money that has been earned has become less valuable. For foreign currency-denominated investments, the ratio is as low as 1%. It is generally more beneficial and more profitable for us to keep all of our money in exchange, as Param is worthwhile against TL during the time it stops.
If you believe in thay story,then you are stupid because even in the fourth world or fifth world countries dont offer that damn low as far as i know theres a 3% per annum that i come to learn
And the same reason i guess thats why people are converting in cryptocurrency investing atleast even if this is the riskiest area of profiteering the chance of earning is higher and convincing
In my country, the banks have paid 3.5% annual interest in the savings accounts in the last year. However, in the year 2015, it yielded -2.28% (considering inflation)
If you put your money in the bank. You must know that it will not make you rich. But it will make your money more secure than to hold it on your possession or invest it to one thing that is not sure.
Banks will not give you much money. But it keeps your money safe. This is absolutely correct, so the bank encourages you to send money to them. In order for them to get profit and retain fees they receive profits from the sender's transactions and receive money. Witness the user and receive service charges.
Banks are monopolists in their sphere of business, so I consider their services as their own interest. They can say that you will obey their options and you will, because you have no alternative to that,
When you have a savings in the bank you can only get i think 1.3% interest you can only get a small amount the whole year whereas if you invest it in real state or in cryptocurrency you can have a big profit.
I went to my bank today to change money to foreign currency because I will be traveling abroad soon. I asked the lady what are the current annual interest rates if you decide to give your money to bank for certain period of time without being able to withdraw that money (Savings Account).
She said proudly that zhe interest rate is 1.3% which is the highest in the country. I was holding my laugh and smiled kindly to her and I said that even 1.3% is not enough for me.
What do you guys think? I think 1.3% per year is a joke. Money can lose that much value in one year so you didn't actually profit at all. What kind of interets rates do you get at your banks?
She said proudly that zhe interest rate is 1.3% which is the highest in the country. I was holding my laugh and smiled kindly to her and I said that even 1.3% is not enough for me.
What do you guys think? I think 1.3% per year is a joke. Money can lose that much value in one year so you didn't actually profit at all. What kind of interets rates do you get at your banks?
No matter how the banks create different options for people to place money on them, investors will still prefer to use their capital on cryptocurrency because it was more profitable.
Anyone who puts money in a bank at such a small percentage risk losing their money more than in the crypto currency. Just in the bank, you will not see how your money is being destroyed by inflation and this makes you calm.
Putting money in a savings account at such a percentage is not beneficial by one hundred percent. While this money will be at you under such a percentage, inflation will destroy all your profits.
I went to my bank today to change money to foreign currency because I will be traveling abroad soon. I asked the lady what are the current annual interest rates if you decide to give your money to bank for certain period of time without being able to withdraw that money (Savings Account).
She said proudly that zhe interest rate is 1.3% which is the highest in the country. I was holding my laugh and smiled kindly to her and I said that even 1.3% is not enough for me.
What do you guys think? I think 1.3% per year is a joke. Money can lose that much value in one year so you didn't actually profit at all. What kind of interets rates do you get at your banks?
She said proudly that zhe interest rate is 1.3% which is the highest in the country. I was holding my laugh and smiled kindly to her and I said that even 1.3% is not enough for me.
What do you guys think? I think 1.3% per year is a joke. Money can lose that much value in one year so you didn't actually profit at all. What kind of interets rates do you get at your banks?
I think some banks are fooling us.. 1.3% MONTHLY is not bad, but ANNUALLY? Are they serious?!
Bitcoin is far better than banks. If you invest in bitcoin, you can earn 100% by a month. If they don't change their annual interest , banks might be gone after 50 years because of bitcoin.
yeah sounds weird for us, but that was bank actualy work, getting money from a money they looking after a cent but for a thousand of people and thats how they getting their profit
1.3% per annum compared to the rate of depreciation of fiat? I think I'll just invest my money. Why would i just let my money sleep inside a bank vault makibg the bank even richer and me having chump change for it if i can let my money work for me by investing. This is the reasons i don't trust banks.
banks only save our money without providing benefits other than a sense of security. but for the money in large quantities should be used investment, for example property that has little risk. or cryptocurrency which has big risk but big advantage tooBanks dont even have that kind of security you are talking about. If they got bankrupt you will find your money in that bank deducted. Their annual interest rate does not even compensate inflation rate that is why rich people doesn't have or few percentage of their assets in banks.
There are still those places where people haven't gotten familiar with bitcoin, the internet or even computers in general, but I believe if the bitcoin has the opportunity to spread all over the world then it can make a significant change happen.
If I don't withdraw for a whole year I can get 1.50% interest rate, but as you said IT IS A JOKE! The buying power of money in my country is decreasing exponentially..And then the bank takes from you all kind of commissions so at the end you might even end up with less money depending on the deposit amount. Invest in stocks,gold,cryptocurrencies and real estates. Don't give money to the banks! They are making a lot more then that 1.30%/year on your money. 
^^ Banks are not returning interest by charity. The deposit is a liability and they return some part of their profits because these people help fund their balance sheet.
Because we have central banking this effect is diluted to the point it has become lost. Central banks lend to the banks instead and at a cheap price with newly printed money, the customer who deposits is devalued now.
I think some banks are fooling us.. 1.3% MONTHLY is not bad, but ANNUALLY? Are they serious?!
Bitcoin is far better than banks. If you invest in bitcoin, you can earn 100% by a month. If they don't change their annual interest , banks might be gone after 50 years because of bitcoin.
Not just 1.3% but also consider inflation. The future money you receive as interest payment is now worth less then the start of the year because of inflation.
If we include this effect the return is quite often negative, the money lost value. I agree this makes Bitcoin more popular, its a massive effect overall. Weak currency or loose money
Because we have central banking this effect is diluted to the point it has become lost. Central banks lend to the banks instead and at a cheap price with newly printed money, the customer who deposits is devalued now.
I think some banks are fooling us.. 1.3% MONTHLY is not bad, but ANNUALLY? Are they serious?!
Bitcoin is far better than banks. If you invest in bitcoin, you can earn 100% by a month. If they don't change their annual interest , banks might be gone after 50 years because of bitcoin.
If we include this effect the return is quite often negative, the money lost value. I agree this makes Bitcoin more popular, its a massive effect overall. Weak currency or loose money
I think banks are not built to make their depositors rich. If you want to grow your money. Invest it in stocks or in realty business. And don't put it on banks.
Jump to: