Of savings and interest .......

[rileen]

Me: "So as a customer, how do I benefit from having a savings account, apart from the interest rate?"

Bank representative: "Well, it's meant to encourage you to save ...."

Me: "That's not needed - I'm pretty good at saving."

BR: "Then it's mainly the interest ...."

Me: "Which is 0.05%, right? (he nods) So for 100 dollars, I get 5 cents, and for 10,000

Comments

[locks]

Ridiculous, I know. Might as well keep your money in a chest under your bed... Ugh.

[rileen]

Yes - I remember being surprised at how low the interest rates were in England when I moved there, but this truly is beyond ridiculous.

And then they talk of encouraging saving :-p

The reason I was visiting was that when I open an account recently, the bank rep. put most of my money in savings, and then they charged me a fee for shifting money from savings to checking as "overdraft protection"! Thankfully they cancelled it when I complained.

Bank interest

[ext_440398]

and you didn't ask about the costs of the account - bank accounts a service for which you have to pay and not earn something! :-)

Re: Bank interest

[rileen]

Haan, banks to ehsaan karte hain hum pe, hamaare paise ki "rakhwaali" kar ke :-p

[rileen]

Why, for the bank to make money, of course :-p !