Banks offering only 1.3% interest rates for Savings Account

[carlisle1]

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?

Thats the F*cking problem with that damn banks thats why many of us converted our money to crypto because of unfair treatment of the banks.imagine they uses our money to put in stocks or any other profiteering but they only giving us just a tin part of our own money,isnt that unfair?

Thats wy those whos investing their money in bank stil,full them out and put here in crypto lol

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[lzby2000]

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.

[Averim]

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?

1,3% is a good quote, in my country, with a negotiated interest i got 0,6% so you can imagine how things works. It is incredible what happens with the banks. They explore all the possibilities to gain money, if it would be secure to hold the money in my house i would hold the money under the mattress, but it is dangerous, you never know.

[jaysabi]

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.

It's a savings account, it's one of the safest and therefore lowest return investments you can make. Return is correlated with the risk of the investment, and if it's too low risk low return for you, don't put your money in a savings account. Banks are in the business of underwriting loans, and in order to do that, they need deposits. If they don't have enough deposits, they raise interest rates to attract more money chasing low risk returns. So in many ways, bitching about the return on savings account is pointless because it's a market-determined rate. It would be like complaining that everyone else thinks Bitcoin is worth $9,000 (which is the market price) but you think it's worth $15,000 and are mad at what the market has decided. If the rate is too low, don't put your money in the bank. Or better yet, if banks have it so good because they pay so little and charge so much, start your own bank if you think it's just so easy.

[ajochems]

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.

[hoanghoatham04]

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

[piterpie]

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

[soname12]

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.

[tranduc2101]

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

[jackky]

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

[jaysabi]

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.

[gorodi]

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.

[Sword555]

We are one of those people who are able to find the way to earn bitcoin no matter what so I'm sure we'd be all successful.

[gabmen]

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

[BitcoinTurk]

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.

[Sword555]

Those who decide to adopt first would be glad they have done it, unlike those who reacte later and would have to purchase at the higher price point.

[squog]

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.

[kidamazo]

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

[andriarto]

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

[mimienamphine]

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.