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.
Topic: Banks offering only 1.3% interest rates for Savings Account - page 9. (Read 2341 times)
1.3% for a risk free investment isn't bad. It's considered risk free with guaranteed returns because its government backed but that's still a trust based sentiment. Investing-wise, it's not great returns, but it's the base you should use to calculate the risk/return margin. See https://en.wikipedia.org/wiki/Sharpe_ratio
https://en.wikipedia.org/wiki/Risk_free_rate
https://en.wikipedia.org/wiki/Risk_free_rate
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.
The banks here offer similar rates, it is not great but still better than nothing. It's hard to see that 1.3% is a good rate with the crazy profits we are seeing on crypto but you have to consider that 1.3% is guaranteed, where as you could lose it all on crypto with the fluctuations in price.
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?
Jump to: