prettyG:

The 4.6% is the interest rate that is used to peg all forms of financial transactions here. There is no proper economy in the world that will pay you up to 9% simply because you are a depositor. But then crooks and criminals like you who want something from nothing will not understand this.

I bank with HBOS and Barclays. For my HBOS savings account I get an interest rate of 1.5% for my Barclays I get nothing. Monday is a bank holiday but on Tuesday I will find out what Barclays charge me for keeping my money with them. Out here they actually charge you on certain kinds of accounts. What Sanusi has done is DEAD RIGHT!

Only in Britain. American banks don't charge people for keeping their money with them unless you run a checking/current out that requires a minimum deposit and you fail to maintain that deposit.

mikeansy:

Have u considered that the so called catastrophe that Sanusi inherited was amplified?

Some banks are saying they did not even need nor used the bailout money given to them.

Pat Utomi has said several times that the crisis in Bank PHB was exagerated.

Yep, like Zenith bank. Sanusi's hatred for Ovia is behind his recent hounding of the bank at the detriment of workers and the whole business circle they support.

Aloy+Emeka:

Only in Britain. American banks don't charge people for keeping their money with them unless you run a checking/current out that requires a minimum deposit and you fail to maintain that deposit.

Did you read what I wrote or just mouthed off quickly? I said certain kinds of accounts.

Aloy+Emeka:

Yep, like Zenith bank. Sanusi's hatred for Ovia is behind his recent hounding of the bank at the detriment of workers and the whole business circle they support.

Social engineering usually doesn't go well when mixed with a pure science like economics and finance. Sanusi has always riled against personal owned banks, but what is wrong with a well run personal bank operating in Nigeria? As far as I'm concerned, Nigeria enterpreneurs that invested and built up personal banks into giant companies deserve commendation for having a positive effect on the economy, they had an option of taking their money to another country. Sanusi forgets that most western banks started as personal owned banks, nobody was there to remind him not to carry his jihad against our capitalist economy.

malipous:

Posterity will never forgive this man. He has messed up our economy for political gain thereby thrown many bank staff to labour market and caused banks not to be granting loan for working capital. His reform has made interest on Fixed deposit less than 5% while interest on loan is more than 21%. From the margin alone, you will know this man does not know anything. Economic melt down in other countries are now thing of past whereas ours is unending. See the PUBLICATION on page 2 of Nation of 30th April 2010 that the 8 distressed banks might be liquidated and handed over to NDIC is care is not taken. His unending publiction on papers is causing more panic on daily basis. What kind og human being is this?

We are waiting for the introduction of ISLAMIC BANK by him so we can introduce CHRISTIANITY AND  PEGANIST BANKS. nonsense. This man has nothing to offer. We better stop him now.

SANUSI MUST GO! AND MAY GOD PUNISH HIM FOR ALL THE HAVOC HE CAUSED ALL FOR THE SAKE OF HIS PERSONAL INTEREST.

prettyG:

The 4.6% is the interest rate that is used to peg all forms of financial transactions here. There is no proper economy in the world that will pay you up to 9% simply because you are a depositor. But then crooks and criminals like you [/b]who want something from nothing will not understand this.

I bank with HBOS and Barclays. For my HBOS savings account I get an interest rate of 1.5% for my Barclays I get nothing. Monday is a bank holiday but on Tuesday I will find out what Barclays charge me for keeping my money with them. Out here [b]they actually charge you on certain kinds of accounts. What Sanusi has done is DEAD RIGHT!

Thats the problem. Every wealthy nigerian is a crook or criminal. You know what i term peope with such reasoning as yours. . . . ''poverty mentality'

The young man that has worked his backside off, got a good job with a top FOREIGN investment bank, saved his money, spent money wisely and decides to build an eye-popping mansion in Ijebu Ode is termed a criminal.

I find it amusing that you are comparing the British economy with Naija's. Whats the basis of comparism?

How many banks are in UK? How many banks are in Naija? What is the exchange rate of dollar to a naira? What is the exchange rate of dollar to a pound?

what is UK's credit rating? What is naija's credit rating?

How many citizens in UK have houses bought on mortgages from UK banks? Can we say same about naija?

What is the essence of ''savings accounts'' or ''fixed deposit'' accounts? Is it not to encourage people to keep money for long periods with the banks in exchange for attractive interest rates? Is it not one of the tools to mop up excess money in circulation?

Which is better? Money kept in banks within Nigeria or individuals taking the money out to open ''offshore accounts'' ?

Now, what does the bank do with these lump deposit sums? Loan the money out (at crazy interest rate) to people that actually need them. eg. to set up businesses, etc.

I do not know what policies Sanusi has implemented but as i said earlier, he seems to have lost the plot. I would have thought he would reduce the high interest rate on loans , but all i see is the physical effect on Naija's economy and its citizens. The banks no longer offer good interest rates and neither are they loaning out money to people . . . . no matter how genuine or viable your business idea is.  Jobs are being lost, salaries have been slashed !

so who are the beneficiaries of his so called ''sweeping reforms''?

i do not know what type of bank accounts you operate in UK. But no bank charges me a dime here and i really do not care about their shitty interest rates.  

Naija and UK are two separate countries and they both have their individual economic problems. We all know that UK is walking on a tight rope. . . . huge budget deficit, planned VAT increase, NI contributions, etc.

So lets talk about naija. Allistair Darling was not the one that got naija into this mess. Sanusi did and he should fix it or get sacked.

prettyG:

Did you read what I wrote or just mouthed off quickly? I said certain kinds of accounts.

So why did you mention this "certain kinds of accounts" here?. Of what purpose is it because it didn't fall into the premise of this argument. For record purposes, what kind of accounts are these and what is the relationship with people keeping fixed deposits and the decreased lending courtesy of sanusi and his draconian rules?

Quote frm funkybaby

Now dumbo, who i am, who my friends are, our sources of income and what we decide to do with our money is none of your Zap.i.n.g business. I am not here on nairaland to boast about anybody's investment portfolio or wealth. I never asked you any advice or suggestion on what business my friend can start with his money. All i asked is how come there is such a sharp drop in interest rates.







And u are very comfortable 2 say u hav 20mill dat u don't know wat 2 do wit in an economy where sch children sell pure water on our highways, pple don't hav food 2 eat, but dats not d issue ur question is wat happened 2 d interest rates u were enjoyin, ansa, the system has been corrected, we can't give "good" interest rates in an economy dat can't give us equally good returns or how do u expect banks to giv 15% wen we cnt get more than 25% returns nd there are no worthwhile biz dat can giv gud returns. Lik somone else told u in d UK int rates are pegged @ 4.5% this was done to encourage funds 2 b used in d real sector.

Aloy+Emeka:

So why did you mention this "certain kinds of accounts" here?. Of what purpose is it because it didn't fall into the premise of this argument. For record purposes, what kind of accounts are these and what is the relationship with people keeping fixed deposits and the decreased lending courtesy of sanusi and his draconian rules?

thank you oh !

marvix:

Quote frm funkybaby

Now dumbo, who i am, who my friends are, our sources of income and what we decide to do with our money is none of your Zap.i.n.g business. I am not here on nairaland to boast about anybody's investment portfolio or wealth. I never asked you any advice or suggestion on what business my friend can start with his money. All i asked is how come there is such a sharp drop in interest rates.







And u are very comfortable 2 say u hav 20mill dat u don't know wat 2 do wit in an economy where sch children sell pure water on our highways, pple don't hav food 2 eat, but dats not d issue your question is wat happened 2 d interest rates u were enjoyin, ansa, the system has been corrected, we can't give "good" interest rates in an economy dat can't give us equally good returns or how do u expect banks to giv 15% wen we cnt get more than 25% returns nd there are no worthwhile biz dat can giv gud returns. Lik somone else told u in d UK int rates are pegged @ 4.5% this was done to encourage funds 2 b used in d real sector.

You really think that fixed deposits are kept dormant in a vault while the banks pay interests on it?. Interest rates are pegged to encourage banks to lend out at lower rates too so that local businesses can thrive.

marvix:

And u are very comfortable 2 say u hav 20mill dat u don't know wat 2 do wit in an economy where sch children sell pure water on our highways, pple don't hav food 2 eat, but dats not d issue your question is wat happened 2 d interest rates u were enjoyin, ansa, the system has been corrected, we can't give "good" interest rates in an economy dat can't give us equally good returns or how do u expect banks to giv 15% wen we cnt get more than 25% returns nd there are no worthwhile biz dat can giv gud returns. Lik somone else told u in d UK int rates are pegged @ 4.5% this was done to encourage funds 2 b used in d real sector.

dumbo, you seemed really pained by this my 20mill being kept in a bank. is it your money?
first you went on about block making factory and saw mill, now its the hungry kids on naija's street.

so its my 20mill that will eradicate poverty in naija. guy, talk sense abeg.

richard branson is one of the wealthiest brits, yet millions of brits are living on benefits so make i hear word abeg.

channel your grievances to naija government and leave me and FCMB with my 20million alone.

now back to the issue at hand: since your yeye theory is that sanusi decided to slash the interest rate to punish greedy naijas like me, then can you explain why the banks are so tight fisted with giving out mere authorized ''overdraft'' (not loan oh)

Quote frm funkybaby
I am assuming that you have never fixed one naira in a bank before neither do you really understand how the banking system works cos if you do, then you will understand my frustration and that of so many other Nigerians regarding sanusi's policies.

Dumbo, i would have replied your silly post in a more civil manner but for having the guts to imply that I, funke, and many others that have posted on this thread are educated illiterates only shows your poor and low level of reasoning.

besides, its takes an olodo to recognise one. numbskull !!!





I will take all ur posts on dis thread 2 prove dat u are one of d many educated illiterates we hav in dis country.


Now if u weren't an educated illiterate u shld hav known dat dis wld happen nd wld not blame Sanusi for d drop in interest rates, where do u xpect d banks 2 invest d funds u want 2 fix, that wld yield good returns.


Let me start by wakin u up, I'm a rtd banker, worked with intercontinental, I resigned nd was not sacked so I marketed deposits nd secured deposits frm my clients, so u can't imply dat I don't know jack abt fixed deposits, I undastand wat it takes 2 satisfy customers who want max returns on their deposits while we hav 2 luk out dat we don't xceed d rate guide nd we bankers knew then dat dose rates cldnt be sustained.


If u are sure of ur money tell us what u or ur friend did 2 get dat amt lyin fallow, wat biz did u invest in, how much did u invest, where did u get d money to invest and how much did d investment yield, let us c if it is clean biz.

Aloy+Emeka:

You really think that fixed deposits are kept dormant in a vault while the banks pay interests on it?. Interest rates are pegged to encourage banks to lend out at lower rates too so that local businesses can thrive.

Don't mind him. Yet he claims to have worked in a bank and calls other people educated illiterates.

Now to the dumbo that crying hoarse about 20mill in a bank. The interest is per annum so don't think 20mil gives me 5million every month. FCMB is not operating a lottery.

Besides by the time the bank deducts VAT, administartive charges, text alerts : wetin remain.

Which brings up another issue: bank charges. Or am I the only that thinks 5 naira COT on every 1000 naira is rather high?  

Quote frm funkybaby
since your yeye theory is that sanusi decided to slash the interest rate to punish greedy naijas like me, then can you explain why the banks are so tight fisted with giving out mere authorized ''overdraft''



Do u actually hav an idea wat interest rates was on loan b4 SLS came onboard, d interest rate afta all d charges put 2geda was btw 41-50%p.a but now d interest rates all 2geda isn't 2 get beyond 25% so banks are not interested in givin out loans @ dat rate 4 xpensive funds they had mobilised, nd CBN now insists dat bank do the due diligence so u hav 2 mit certain conditions b4 a customer can b considered 4 an overdraft facility, this is y pple are findin it difficult 2 assess facilities which is just a temporary prob which wld go away as soon as d banks have only cheap funds in their books

Majority carry the vote. Please let the man go and save our economy.

marvix:

I will take all your posts on dis thread 2 prove dat u are one of d many educated illiterates we hav in dis country.


Now if u weren't an educated illiterate u shld hav known dat dis wld happen nd wld not blame Sanusi for d drop in interest rates, where do u xpect d banks 2 invest d funds u want 2 fix, that wld yield good returns.


Let me start by wakin u up, I'm a rtd banker, worked with intercontinental, I resigned nd was not sacked so I marketed deposits nd secured deposits frm my clients, so u can't imply dat I don't know jack abt fixed deposits, I undastand wat it takes 2 satisfy customers who want max returns on their deposits while we hav 2 luk out dat we don't xceed d rate guide nd we bankers knew then dat dose rates cldnt be sustained.


If u are sure of your money tell us what u or your friend did 2 get dat amt lyin fallow, wat biz did u invest in, how much did u invest, where did u get d money to invest and how much did d investment yield, let us c if it is clean biz.

Shusssh! If really you worked in a bank, it was prolly as a gateman. Cos you will making so much noise about 20million naira fixed in a bank. You would seen several millions belonging to other Nigerians and 20mill to you will be 20naira.

If you are making so much noise about such sum, what will you say about estate firms that are selling 2bedroom flats at 1004 flats for 40million and people are buying.

Stop focusing on my chicken change and acting like someone that has never seen money.

I have told you before: what I and by friends do is none of your bloody business an wil the Zap are you that I have to explain my finances to? Eh?

You want to know what business we do and our capital outlay? Lol. I.d.I.o.t
Stick to your sawmill and block making business ideas.

See me see trouble. Next this dumbo will ask for my bra size and what colour of thongs I am wearing.

Anofia!!!

marvix:

Quote frm funkybaby
since your yeye theory is that sanusi decided to slash the interest rate to punish greedy naijas like me, then can you explain why the banks are so tight fisted with giving out mere authorized ''overdraft''



Do u actually hav an idea wat interest rates was on loan b4 SLS came onboard, d interest rate afta all d charges put 2geda was btw 41-50%p.a but now d interest rates all 2geda isn't 2 get beyond 25% so banks are not interested in givin out loans @ dat rate 4 xpensive funds they had mobilised, nd CBN now insists dat bank do the due diligence so u hav 2 mit certain conditions b4 a customer can b considered 4 an overdraft facility, this is y pple are findin it difficult 2 assess facilities which is just a temporary prob which wld go away as soon as d banks have only cheap funds in their books

Better!!
You can explain/state your opinion without insulting others!

@funky wt do u kno abt bank funds I hav sourced more dan a billion naira in deposits while in d bank nd also met wit diff kind of criminals in d name of prospects, most of these deposits were frm govt agencies where we mak special arrangements 4 d chief execs.

Now do u kno wat it means to say there is xces liquidity in d system? It is when there's too much money in fixed accts dat means dat money is idle and dat is wen CBN mops dose funds thru some investment like treasury bills nd other instruments, but like a deposit frm a govt agency dat is supposed 2 b used 2 pay contractors dat we used to fix 4 d CEOs then wld deny d contractors mobilisation nd wld hav 2 go source money elsewhere, which mayb a bank to grant him loan 2 execute d contract afta completin d contract to get payment he has 2 wait 4 d money fixed with us 2 mature nd we wld be pleadin wit d CEO not to tak d funds by den contractors interest on d loan he took wld hav eroded his profits frm d job. So u c all d corruption in d system now SLS peggin of int rates wld discourage nd reduce dis sort of fraud nd wit more supervision govt funds wld not be fixed in a bank. Fixed deposits are not better dan savings acct 2 d banks nd bankas, govt funds shld be in checkin accts or a zero interest nd zero COT accts, den d banks wld maximise on d float income 2 b made.



It is educated illiterates lik u dat put ur money in schemes nd com out complainin wen d money disappears. Pshew

@marvix

You this dumbo. You are still spewing rubbish.

Are you not the implying that keeping 20mill In a bank is a wrong move and would rather have the money invested in making blocks and cutting timber? How dumb!!!

I know your type. You must have been one of those useless bank officials that encouraged so many people to liquidate their fixed deposits in banks and invest in the likes of nospecto and co. Little wonder the system kicked you out.

The money will stay in the bank and even if sanusi brings interest rate to zero, it will stay there. And if you are not happy about such 'investment decision' you can go and hug a power grid or better still hit your head against the wall.

And who cares a rat as.s if you raised one trillion in deposits or you shag.ged backsides to meet your targets.

Go sitdown jo.
Over educated school drop out.
Anuofia!

Sanusi is never the problem pls. We are in a global economic wahala. Here in Europe, many are out of work for the past three years as Nigerians are just starting to feel what many had been through for years. so He is never the problem pls.

Why can't the so called "educated" nairalanders agure constructively without name callings like agberos.? Gush, ! Am getting irritated in here. As for Sanusi, I love the guy!

Quote form Naijaking1

---still considering sacking him
Just sack him now, no need to consider it.
The results of his financial misadvanture are on the ground for all to see--for every Dangote type of economic frustration, there are a thousand small sized companies and employers of labor the idiot has put out of business.
Once again, thanks to mikeansy, papa browne, Beaf, Sapeleguy, Dominioifet, and others who saw this guy for what he was from day #1: fake economist, and a rogue CBN governor.

@Naijaking1
Thank you man. You've had some of the best contributions on the CBN threads!! I have learned loads form your in-depth contributions!!
And yes!! Victory is here! Sanusi's time is up!!

Quote form PK001

I also want to second[b] naijaking1 and thank most especially mikeansy,then papa browne, Beaf, Sapeleguy, Dominioifet, and others[/b] who I call the Real economist for their contribution on this matter since from the beginning. You guys are making waves all over the world and when this guy is finally out of office the credit will go to guys.
Its time to act, remove this guy ASAP or let him resign. He is a big failure with so much sentiments.

Thanks man for the complimenté!
"Big" is too small a word to define Sanusi's failure. I think "Gigantic" describes it better!

funkybaby:

Thank you o jare.
Although, i actually believed the guy could make a big difference when he was initially appointed. I remember having a lil argument/convo with papabrowne about it.

however, i am shocked and dissapointed by the turn of things.

so many people have been negatively affected by the man's policies. for example, my friend was happy living on the interest the fixed deposit brought in for him before the sanusi era, so you can only imagine the guy's pain at the miserable interest rate at the moment.

I remember too. Cooool 2 know we are now on the same page!!
Even Next newspapers sef that started out as core supporters of his reforms seem to have backpedaled!!

@papabrowne
Yes oooo!
I was so wrong about the guy!

Naijaking, PapaBrowne and everyone else you guys mentioned.

I can only say thank you for speaking truth to power.

Whether Sanusi goes or not, you guys have already succeeded. I think either way this effort has already become victory for Democracy, Common Sense and Economics.

Even if Sanusi chooses not to do the right thing and resign; Government has already signalled that his version of economics and its implementation is not welcomed in the serious country that we are hoping to become.

Sanusi may be a good man and I have no reasons to question his intentions or honesty (as much as that is what they like to do to those who don't agree with their economics); I just think the man is a risk to our economy for he has no clue how to run the affairs of CBN.

Will Sanusi make a Great Pundit or Political Critic? YES

Good CBN Governor? Absolutely NO.

@funky, I'm not bothered abt ur Funds wen I refered to sawmill nd blockmakin was just tryin 2 let u know dat even those small biz is wat will mak Nigerias economy pick up wen pple refered 2 d US injectin money into d economy, it was not only banks dat got d bailout funds.

Even in d days of d bankin boom a lot of us saw this comin but there was little or nothin anyone cld do, because @ dat time u had a bouyant bankin industry supportin nothin in d real sector nd a lot of d deals goin on in d banks are shady nd very corrupt deals.


Bankers now are among the most unspecialised workers in d country, no value is bein added 2 dem, they know nxt 2 nothin abt sound investment principles, professional bankers are vry few in our system 2day, if they were actually addin value it won't hav bin easy 4 any bank 2 dismiss 1000employees in one full sweep, we hav prostitutes in d bankin sector, some bankers 2day think dat bankin is all about deposit mobilization nd makin withdrawals frm accts. A bank marketer once went out for marketin nd was asked wat she wanted nd her response was "we are here 4 deposit". Can u imagine, if u c any bank staff in ur area askin 4 funds or acct try askin basic investment questions as if seekin their advice ul b surprised @ d way they relate with u.



Funky no beef, I wld hav luvd 2 manage ur acc if I was still in d bank, nd mayb get my boss 2 approv a higher rate just to kip u.

Sacking Sanusi isnt the problem here. Sanusi has brought some stability in the banking industry. Most of our so called billionaires are cameleons. I guess FORBES have taking note of the shit going on in Nigeria. Dangote & co have done their best but they shouldn't toil with the masses fund. I hope we haven't forgotten so quickly the era of Savannah bank.

Quote frm kokoA
Why can't the so called  "educated" nairalanders agure constructively without name callings like agberos.? Gush, ! Am getting irritated in here. As for Sanusi, I love the guy!



The prob is most of d pple in dis forum though educated are still illiterates, who view evrything thru their ethnic prism, and no single individual who is well educated nd properly xposed can mak some of d vry sensles arguements they try 2 mak.



No mata wat evryone wishes 2 say or believe Sanusi isn't d prob of our economy as him alone can't solve our economic woes nd if I cld borrow frm Obj "even if Jesus Christ came to run our CBN the economy of d nation wld not just bounce back like dat".

marvix:

I hav bin readin comments but decided 2 ansa your question,

In an economy d bank interest rates shld not be beta dan returns u wld get 4 puttin your money into the real sector, so what is d rate of return in the nigerian economy for 20million dat a bank shld now giv more dan 5% interest rate. Monies fixed in a bank is a disincentive to investment, dat 20million can create jobs by investin it in buildin a standard sawmill industry or blockmakin industry.

I wonda where your friend got 20mill dat he wanted 2 fix in d bank, because u only fix money wen u don't know wat u want 2 use d money 4 nd dis is d prob of d educated illiterates in dis country, banks are not meant 2 b money doublers, if u take your money 2 d bank its 4 security because weneva u nid it u shld b able to assess it unlike wen u hav invested it in a business venture, nd wen your money is invested in a venture u can lose it but in d ideal situation even wen a bank folds u shld get your deposits back complete.

Marvix, obviously your purported stint as a bank worker didn't avail you the opportunity to understand finance. You probably worked as a marketer, but one thing is certain from you comments, you know too little about the workings finance. So I will take a little spoace to re-educate your understanding.

The highlighted portion of your quote- "Monies fixed in a bank are a disincentive to investment" exposes your level of understanding.
Monies fixed in a bank (Fixed deposites especially) for your own information are the best incentive for investment.
When customer A  fixes a deposit in a bank for a term, that money is taken and given to customer B as a loan for a term who uses that money to run his business. His business blossoms and he pays back the loan with interest. The interest charged on customer B is shared between the bank and Customer A. Thats how it works Mr Man.
When the going was good, customer A gets an average deposit interest of anywhere between 10% and 20%. Customer B is charged 20+%  interest on loans.
Sanusi came in and the loans stopped. Hence there was no way the interest on deposits could be sustained since loans were no longer being given. That is why the rates on deposits dropped. Bad thing is that both customer A, customer B and the bank are at a loss. Nobody is making money anymore for the simple reason that Sanusi criminalized lending.

For crying out loud, why are you obsessed with Funkybaby's 20 milla and how it was made?? If you really did work in a bank, you should know that many genuine business people make even more on a regular basis. So pls quit it already!

Medicine after death, the economy is already in coma and it would take a long period of time to repair a war economy like nigerias

Anyone noticed how silent the press lover Sanusi has become these days??
He hasn't said a word since, despite the fact that Gusau attacked his actions.
He should do exactly what he promised to do mif Jonathan doesn't approve of his reforms: He promised to go on exile!

Quote frm papabrowne

The highlighted portion of your quote- "Monies fixed in a bank are a disincentive to investment" exposes your level of understanding.
Monies fixed in a bank (Fixed deposites especially) for your own information are the best incentive for investment.
When customer A  fixes a deposit in a bank for a term, that money is taken and given to customer B as a loan for a term who uses that money to run his business. His business blossoms and he pays back the loan with interest. The interest charged on customer B is shared between the bank and Customer A. Thats how it works Mr Man.
When the going was good, customer A gets an average deposit interest of anywhere between 10% and 20%. Customer B is charged 20+%  interest on loans.
Sanusi came in and the loans stopped. Hence there was no way the interest on deposits could be sustained since loans were no longer being given. That is why the rates on deposits dropped. Bad thing is that both customer A, customer B and the bank are at a loss. Nobody is making money anymore for the simple reason that Sanusi criminalized lending.



The interest rates was killin business at a time we were no more interested in fixed deposits because the cost 4 them was high. If u fix 5m @ 15% for instance u still hav 2 pay 1% as NDIC premium, u pay other charges 4 dis deposits dat stand @ abt anoda 2% b4 u start talkin of lendin it out, now wen u loan it out u hav customers defaultin, a lot of this is caused because d pricin of d loan was high nd some due diligence not done, once ur customers start defaultin provision 4 d loans increase.


Now y we were no more interested in fixed deposits is because wen u giv high rates @ d end of d mth they want 2 pull out d funds thereby hittin on our deposit balance, also realise dat even though d bank lends out @ 25% d actual income calculated 4 d branch is @ 19% for interbank placements of deposits nd abt 17% 4 interbranch placements, savings accts 2day are d best type of accts bankas want now, because d savings accts are stable.



Broda its not as simple as u put it ask any banker he wld tell u.