Why Are Bank Interest Rates Garbage - The Nasty Truth
发布时间 2020-07-03 19:00:07 来源
摘要
It's no secret that savings account interest rates suck with the national average coming in at just 0.06%. But why are savings account interest rates so bad? Mortgage rates are still at a solid 3-4%, the stock market has been growing at over 10% per year, and we all know credit card interest rates are through the roof. So, are banks not able to pay higher interest or do they simply choose not to? This video explains the various limitations that reduce the interest rates banks are able to payout as well as external forces that lead to low-interest rates.
Timestamps:
0:00 - The Terrible State Of Interest Rates
0:36 - Accounting For Withdrawals
2:08 - Drawbacks Of Investing So Much
3:17 - How Much Can Banks Afford To Pay
5:39 - Why Banks Aren’t Competitive
6:37 - They Don’t Need To
Resources:
https://pastebin.com/XExEjeji
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