What bank interest !!!

[golden ray]

I can remember back in 1957 , while in the 3rd grade.; the local bank
came to my school to start us kids on a savings program.
They started a 'pastbook account' for everyone who wanted one, & even
gave us a quarter to open it with.
The interest rate they paid at that time was 4% , no hidden fees of any kind.
NOW, I don't know of any bank that pays any interest on a savings account.
They act like their doing you a favor !!!!!!
And if you go in for a loan of any kind, consider it a BIG favor for them to
offer you a loan at their low? rate of what ever they can get you for.
And don't forget about all their sneaky little add ons & fees.
Not to mention the endless, & sometimes needless paperwork/information
they want for you.
Every time I go to my bank the teller asks me "can we help you with a loan todays"
I tell them, "sorry,I don't lend out money". Just love the look on their face.

 

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[Jason in Enid]

That's because the fed only pays the banks a fraction of a %. Bank in turn give out 0%, -2% interest loans. Back in the 50's it would cost you 15% on a loan if you had good credit.

 

[njal]

Did you mean the early 80's?
In the 50's interest rates were 2% / to almost 5 % .