#deposit-rates

#deposit-rates

European banks are desperately sliding into American DMs with deposit offers that would've been illegal three years ago - 4.5% on savings, 5.2% on CDs, plus signup bonuses that make Chase look like a lemonade stand. German banks that wouldn't return your emails in 2019 are now advertising in English on Facebook, offering higher rates than they give their own citizens. Deutsche Bank just launched an American deposit campaign while still paying Germans 0.01% on the same accounts

At the end of the second quarter, the average U.S. bank paid depositors an annual interest rate of 2.2%, according to Federal Deposit Insurance Corporation data. This is higher than the 0.2% rate two years ago but well below the Fed's 5.5% overnight rate. JPMorgan Chase and Bank of America reportedly paid 1.5% and 1.7% on average, respectively. Those lower payments to depositors generated roughly $1.1 trillion in additional revenue, about half of total bank income over the period, the Financial Times' calculations indicate.

From today, the mortgage rate will decrease by 0.15pc to 0.2pc on a number of products that are fixed for periods of between two and seven years. The rate decreases will apply to mortgages where the Loan to Value ratio is between 80pc and 90pc, including 'green' mortgages and so-called 'high-value' mortgages. PTSB said the new rates for the 2-year, 3-year, 5-year and 7-year fixed terms in this band - which range from 3.7pc to 4.4pc - are available to both new and existing customers.