Interest Rates: "Easy Come, Easy Go"

[GOLTZBORG]

What are the current interest rates being charged and/or paid by legal lending institutions within your nation's banking / financials industry ?
(i.e. legally regulated lending & savings institutions: banks, mortgage corps, loan companies, etc)

Home Loan Interest Rates: 10 yr, 20 yr, 33 yr. ( 2nd morgage rates if available )

Auto Loan Interest Rates: 36 mos, 48 mos, 60 mos, 72 mos.

Quick Loans ( a.k.a. "Pay Day Loans" ): 1 wk, 2 wks, 3 wks.
( similar to "loan sharks"...only legalized in some regions )

etc, etc, etc....

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Interest Rates Received On:

Savings Accounts

Checking Accounts

Cerificates of Deposit ( C.D.s )

I.R.A.s

401K Accounts

etc, etc, etc......

[East Jermany]

The government sets all interest rates and all are currently at a flat 10% simple interest for loans and for savings.

10% loans keeps every company equal so that friendly service is the factor by which customers are drawn to a particular loan company or bank or morgage compamy.

[Sibirsky]

Many factors go into determining the interest rate. In Sibirsky, all rates are determined by the market. The main factors in determining the interest rate include, but are not limited to;

• The risk-free cost of capital
• Inflationary expectations
• The level of risk in the investment
• The costs of the transaction

These are averages for today.

Home Loan Interest Rates:
3/1 ARM 3.25%
5/1 ARM 3.5%
7/1 ARM 4%
10/1 ARM 4.25%
15 year fixed 4%
30 year fixed 5%
40 year fixed 6%
10 year HELOC 7%
15 year HELOC 7.25%

Auto Loan Interest Rates:
36 mos new car 4%
48 mos new car 4.25%
60 mos new car 4.75%
72 mos new car 5.5%
36 mos used car 4.75%
48 mos used car 5.25%

Quick Loans ( a.k.a. "Pay Day Loans" ): Interest rates expressed in annual terms. The actual interest rate for the duration of the loan is much lower.
2 wks 391%

Interest Rates Received On:

Savings Accounts 1.5%
Checking Accounts 1%
Cerificates of Deposit ( C.D.s ) 3%

IRAs and 401(k)s typically do not pay interest. The investor has the option for the unused cash to be swept into a money market account. Such accounts pay 1% on average.

[GOLTZBORG]

OOC: Very Impressive ! Thanks for such detailed reply.

[Sibirsky]

OOC: Very Impressive ! Thanks for such detailed reply.

OOC: You bet. Love you threads.

[Eleria and Valeria]

Real interest rates fluctuate, but are generally much higher than in most nations. The policy of the (private) Valernbank, which serves through charter as the effective central bank of E&V AG, is to maintain a high interest rate to try and prevent the formation of bubbles. Typically, interest rates are set at such a level that inflation is kept as close to zero as possible — to the extent that, should inflation occur, a corresponding amount of deflation is maintained in the next fiscal period. E&V AG's high interest rates stifle economic growth, say those opposed to such an Austrian economic policy, but proponents argue that the high interest rate helps prevent financial crises without the need for complex and often ineffective banking regulation, which is much more lax than in most nations. As the contract between Valernbank AG and E&V AG is written into the governing charter of the E&V AG, there is little chance that it will be changed.