Bank Account interest rates extremely low
My bank's interest rate was already pitifully low at 0.65%
So what did they do? They lowered it to 0.455%.
They blame the Reserve Bank for cutting the cash rate to 0.63%.
You may say, Term Deposits are a better option, not so.
A 5 year term deposit pays a pitiful 0.65%.
My bank still made $11 million Profit.
They gladly use my money to generate their profit whilst paying me the minimum rate for the use of my money.
Banks wonder why they are among the least trusted businesses, what with all the fraudulent behaviour being uncovered.
So what did they do? They lowered it to 0.455%.
They blame the Reserve Bank for cutting the cash rate to 0.63%.
You may say, Term Deposits are a better option, not so.
A 5 year term deposit pays a pitiful 0.65%.
My bank still made $11 million Profit.
They gladly use my money to generate their profit whilst paying me the minimum rate for the use of my money.
Banks wonder why they are among the least trusted businesses, what with all the fraudulent behaviour being uncovered.
