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Why bank interest reduced?


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Well the drop in the rate is because prime went down. Banks can not give more money then they can make on loans and such, so they lower the rate of return on products like CD's. I am sure that banks would not mind giving you that 5% again, because that gives them the right to charge 12% on something that they can only charge at 4.5% right now. :D And for the record yes I work for a bank.

And I hope that we are talking about RL stuff here.....if not I feel stupid :yub:

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And I hope that we are talking about RL stuff here.....if not I feel stupid

Hehe >8]

[psst, we're taking about the Bank for the forum gold]

:yub:

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  • 2 weeks later...

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