Submitted by RussianPremier t3_11dykeb in explainlikeimfive
segelnhoch3 t1_jabxb78 wrote
Reply to comment by zmz2 in ELI5 How do banks work? by RussianPremier
These rates change over the years, but interest rates change with them. So if your bank gives 4% interest on savings, their loans probably have an interest >6-7%. Still, the 0,01% are a rather extreme example.
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