Have bank interest rates gone down?

Liberty

Well-known member
Location
Texas
Got a not today from Citi that my savings went down to 2.05%. No notices from the other banks...…….yet.
Assume that's your regular account and not CDs or something else you mean?
 

chic

Well-known member
Location
U.S.
Exactly .... what happens is those who are anti investing actually start to believe their own bullshit as it is called ....so they have all these reasons in their head , true or not as to substantiating what they believe ....usually what they believe though comes from other misinformed people... the end result is they do pretty poorly with their money as far as it working for them .
Not entirely true. I invested and traded stocks for years and was nearly wiped out because Goldman Sachs lied on a prospectus. It was deemed they should be bailed out because "Goldman Sachs is too big to fail." I never got a nickel back and have been in dire financial straits ever since. I'm not ignorant of stock trading, but a person should never invest more than they can afford to comfortably lose because it does happen even through no fault of your own. :cry:
 

Liberty

Well-known member
Location
Texas
Not entirely true. I invested and traded stocks for years and was nearly wiped out because Goldman Sachs lied on a prospectus. It was deemed they should be bailed out because "Goldman Sachs is too big to fail." I never got a nickel back and have been in dire financial straits ever since. I'm not ignorant of stock trading, but a person should never invest more than they can afford to comfortably lose because it does happen even through no fault of your own. :cry:
Amen to your post chic...could tell you tales of many direct losses incurred by those that thought they were being protected or "handled" by big brokerage houses. It is what it is, and its best to keep any "real monies" you may have in some other place, no matter what the propaganda preaches these days. Hope you are doing ok today.
 
Bank interest rates hardly reflect actual interest rates. It all depends on who you have your money saved with! For instance I was getting .01% interest with Chase, and now I get ~.4% with Schwab.

If you are invested in treasuries and bonds, e.g. T-bills, you will likely feel the effects of interest rate changes more than a standard bank account.
 

fmdog44

Well-known member
Location
Houston, Texas
After Citi dropped my rate Ally Bank and Capital One have also sent notices stating the rate has gone down to 1.9. CD rates will surely follow.
 

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