Interest rate

Interest rate

Interest rateThe bank interest rate shows how much a bank or other credit institution pays to an investor for the attracted assets. The interest rate or the bank rate is one of the oldest inventions of the mankind. The interest rate not only multiplies and preserves the invested assets, but, what is the most important, protects them against inflation. It can be supposed that the credit and the interest rate existed in the ancient times. Now all deposits can be classified in two groups in respect of the interest rate:

  • demand deposits. The interest rate on such deposits is usually 0.1%;
  • time deposits. The interest rate on such deposits is usually 1 to 8% in USD annually;

The calculation of interest was initially performed exclusively by banks, and now not only credit institutions, but also other organizations calculate interest. For example, broker companies having substantial assets now offer quite competitive interest rate. As the assets are used actively, the interest rate in broker companies can even exceed the average level.

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