The interest rate even going lower
By kingparker
@kingparker (9673)
United States
March 14, 2013 4:03pm CST
I check on my bank statement online, to discovered that the money market account interest rate is going even lower than last month. This month, the interest earning about half of what was last month, and I constantly deposit money to the saving and money market account. Now, with such low interest rate on the bank just worthless, I should look for alternative ways to earn higher return. I had mentioned about the social lending club, people letting other people borrow money from a peer - to - peer website. I tried out with $100, and now I start earning higher interest rate and some principal back. Maybe I should invest a bit more to earn higher interest rate.
3 responses
@asliah (11137)
• Philippines
24 Apr 13
yes it is true that the interest rate in market is going down that is why most of bank here in our country the interest rate is also went down,from 50 percent last year or January and now it became 25 percent,so its good of you have a big money in your account.
@anklesmash (1412)
•
15 Mar 13
Low interest rates are the same everywhere its a pain for me as I am saving money so my money isnt earning me much in the bank.Though I would be careful at looking for other alternative investment oppurtunities as investments with high returns tend to be a higher risk.At least in the Bank you are unlikely to lose your money and eventually the interest rates will rise again.Thats why I only put my savings in the bank I have looked at a few investment sites on the internet but have always decided against risking my money.Though low Interest rates are good for borrowers as it means there loan repayments are a lot less.Though interest rates are typically higher for loans than it is for saving.
@yanzalong (19091)
• Indonesia
15 Mar 13
Is what you mean the same as HYP program, in which we invest an amounr of money and we will get paid daily, weekly or monrhly?
