Banks offering only 1.3% interest rates for Savings Account - page 3.

julius caesar

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Quote from: spngebob on November 10, 2017, 11:30:40 AM

Annual interest in my country is between 1.5% - 2%, it has always been like that and I think in all countries is the same. Look, bank is using your money to earn more money, if they give you higher annual interest then their profit will be much smaller and probably unprofitable for them. It's not really funny this is reality.

Yes as well in my country they were offering the same, I guess it happens cause to the growth of people who saves money and they were now lacking for a way to make it bigger, and I think this is one of the reason why some people nowadays used to work here in Bitcoin rather than to be involve in investment banking in which the annual interest is undoubtedly low for the entire year that you will wait.

Firefox07

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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.

droptableguy2

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Quote from: tranduc2101 on May 04, 2018, 02:36:04 PM

Quote from: BCEmporium on November 10, 2017, 06:42:52 PM

The interest rate is low because the central bank's interest is very low as well. And higher interest rates are inevitably going to pose significantly larger amounts of risks. I don't think it's a very smart move to keep a lot of money in a bank account though.

All the rich people they usually never leave their money in the bank. All of them will bring the money to Bitcoin and stock. others will invest in real estate and business

If we put money in the bank they do not make us rich, they only give us a fixed monthly income, I recognize that the bank is stable, not lose capital, but the income from them. not tall. If you take the risk and invest in the Crypto market you will earn high income and get rich quicker.

Ilegendph

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Quote from: andriarto on May 22, 2018, 05:07:54 AM

Quote from: squog on May 22, 2018, 05:01:47 AM

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 too

Banks 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.

Mikejones64

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Quote from: zakalwe on November 10, 2017, 10:51:42 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?

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.

mimienamphine

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Banks will never stop cheating people. After using someone's hard earned money to do their businesses and make a lot of profits all they could give the person is 1.3%.This is really serious. Thieves in suits working in air-conditioned offices. This is why most people must realize the untapped resources in blockchain and redirection their resources here for fair wages and profits.

andriarto

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Quote from: squog on May 22, 2018, 05:01:47 AM

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 too

kidamazo

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Yeah, in some countries the level of inflation is much bigger than that, and I believe that money needs to be working all time, not just laying somewhere even in bank

squog

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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.

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BitcoinTurk

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Quote from: zakalwe on November 10, 2017, 10:51:42 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?

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.

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Quote from: gorodi on May 09, 2018, 07:32:13 AM

Quote from: lzby2000 on May 04, 2018, 01:30:14 PM

It's ridiculous that the interest rate they give you is 1.3%, and the interest rate they charge to others may be 8% or even 10%. For years, the obvious fact is that you have to put money in the bank to devalue every day, because the interest rate you get can't resist the rate of inflation at all.

Since the times I started to deal with the cryptocurrency, I forgot about the banks and the credits. Crypto gives me enough not to do it. I love trading business.

Well its impossible to think of your savings as an investment. It would take forever for your capital to at least even have a decent profit. Banks are safe for your savings but it's stagnant. That's why many people prefer to make investments and do businesses instead

Sword555

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gorodi

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Quote from: lzby2000 on May 04, 2018, 01:30:14 PM

It's ridiculous that the interest rate they give you is 1.3%, and the interest rate they charge to others may be 8% or even 10%. For years, the obvious fact is that you have to put money in the bank to devalue every day, because the interest rate you get can't resist the rate of inflation at all.

Since the times I started to deal with the cryptocurrency, I forgot about the banks and the credits. Crypto gives me enough not to do it. I love trading business.

jaysabi

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Quote from: ajochems on May 04, 2018, 02:21:46 PM

Actually 1.3% interest for a year will be joke.In some bank they offer 5% for holding the money for a year.But for that you have to hold the currency at same value every month.If you want to get 10-30% profit for a period of 6 months- 1 year.Bitcoin is the only known option.Nearly 2500$ variation in a month.As compared to bank , bitcoin is the best one.

This is, generally, why people look down on crypto investors and why they are so easily swindled out of their money. If you think that you should be able to buy something and have it reliably go up in value by "10-30%" in a period of 6 months, then you are detached from reality. The world doesn't work that way, otherwise nobody would be poor if everyone could just double their money every couple years by investing. Investing is inherently risky. Investing in crypto is manifestly more risky than traditional equity investing. Only fools don't realize that, and it's very easy to separate a fool from their money, which is why you see so many of them get scammed in the crypto space.

jackky

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Quote from: zakalwe on November 10, 2017, 10:51:42 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?

The bank is only suitable for the poor. They can borrow money to invest easily. Some wealthy people will choose the bank to deposit money and receive monthly income for living expenses. I think the bank is also very good

tranduc2101

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Quote from: BCEmporium on November 10, 2017, 06:42:52 PM

The interest rate is low because the central bank's interest is very low as well. And higher interest rates are inevitably going to pose significantly larger amounts of risks. I don't think it's a very smart move to keep a lot of money in a bank account though.

All the rich people they usually never leave their money in the bank. All of them will bring the money to Bitcoin and stock. others will invest in real estate and business

soname12

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Quote from: piterpie on May 04, 2018, 02:32:07 PM

Quote from: Script on November 10, 2017, 11:36:55 AM

I don't think banks offer anything in my country right now.

The only incentive to have money in the bank is the payment network and you have to pay to use.

Of course, that is how banks operate and survive until now. Their interest will always be higher than the interest we deposit. so they will never lose money. They take this person's money and lend it to others

You're right. They are intermediaries between the borrower and the lender. They will receive a certain amount of money and they will forever earn money with this method .. Bitcoin may be a danger to the bank.

piterpie

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Quote from: Script on November 10, 2017, 11:36:55 AM

I don't think banks offer anything in my country right now.

The only incentive to have money in the bank is the payment network and you have to pay to use.

Of course, that is how banks operate and survive until now. Their interest will always be higher than the interest we deposit. so they will never lose money. They take this person's money and lend it to others

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Although 1.3% is a very small number, banks are a safe bet for those who want to save money. Only those who invest as we are new never choose a bank that makes a lot of money

Topic: Banks offering only 1.3% interest rates for Savings Account - page 3. (Read 2358 times)