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The two relevant Belgian banks are BNP Paribas Fortis and ING Belgium, but their rates cannot be compared due to variability. BNP advertises its interest rate as "attractive," consisting of a basic rate and a loyalty bonus. But the basic rate is not guaranteed; rather, it varies according to the market. In comparison, ING offers multiple savings account products, ranging from an interest rate of 4% for a period of 7 to 15 days, to an interest rate of 9.25% for a period of 365 days.
What else can I help you with?
Do banks uaually offer bank cds?
Yes, most banks do offer CD's or, Certificates of Deposits. Generally Certificates of Deposits are time deposits, a certain denomination of money that you take a deposit on and that accrues interest until it is 'mature' at which time you can usually extend it, or withdraw it with the interest added. You can usually withdraw your money early but if you do, you will forfeit all or much of your interest.
Why are banks willing to pay interest on their consumers' deposits?
Banks are the financial intermediaries of the economy. Without them there will be no financial prosperity. Banks accept deposits from people who have surplus and lend out loans to people who need the money. They offer other services like bank accounts, credit cards etc. They are willing to pay interest on the consumers deposits because - they use those deposits to grant loans to other customers. The loan customers pay the bank a higher interest on the loan amount. Usually the rate of interest at which banks offer loans is significantly higher than the rate of interest they give to bank deposit accounts
How much is Wells Fargo offering on their most recent CD?
Many banks offer certificates of deposits. Wells Fargo offer certificates of deposits up to 250,000 dollars, with a six month interest rate of 0.05 percent.
How can banks afford to pay interest on their customers savings account deposits?
The bank does not just hold on to the money you retain in your savings account. Instead, they offer loans to other customers using that money. The loan customers pay an interest to the bank and the bank in turns offers the savings account holders an interest. Since banks make money by lending our money, they offer us an interest.
What is the Features of saving account?
Some features of a savings account include, the ability to draw interest, overdraft protection and the requirement for minimum deposits. Most banks offer savings deposits for their customers.
What banks offer a high interest CD?
"When looking for Banks that offer High interest Cd's, your going to want to look at credit unions and or banks that offer high interest rates for business accounts."
What banks offer high interest rate accounts?
Different banks will offer different interest rates. Some banks that offer high interest rates include Ally Bank and Capital One which has an interest rate of 0.84% and 0.75%.
Why do banks need deposits to operate effectively and provide financial services to customers?
Banks need deposits to operate effectively and provide financial services to customers because deposits serve as a primary source of funding for banks. Deposits allow banks to lend money to borrowers, invest in financial products, and generate revenue through interest and fees. Without deposits, banks would not have enough funds to carry out their operations and offer services such as loans, savings accounts, and other financial products to customers.
What are some banks that offer high interest accounts?
If you happen to be military, the Navy Federal Credit Union offers very high interest rates. If you are not, then CitiBank can be a great choice for high returns on deposits.
Do banks offer compound interest on their savings accounts?
Yes, banks typically offer compound interest on their savings accounts, which means that interest is calculated on both the initial deposit and the accumulated interest.
Why do finance companies charge higher interest rates than commercial banks?
Because they offer a higher rate of interest to their deposit customers. Loan Interest is the chief source of income for all banks & financial institutions. The difference in the rate of interest offered to deposit customers and loan customers is usually the profit a bank makes. Usually people prefer banks when compared to financial institutions to deposit their money. So to attract customers these institutions offer a higher rate of interest on deposits with them. In order to maintain their profit margin, they charge a higher rate of interest on their loan customers. So, higher the rate on deposits, higher is the rate on loans.
What online banks offer a savings account that accepts direct deposits as a funding method?
Virtually all online banks will accept direct deposits. This is how they get funded. THERE ARE MANY REGARDING THIS. BANK OF AMERICA OFFER A SAVING ONLINE. WACHOVIA AND CHASE ALSO OFFER THAT.
