There is a new bank in the town in case you didn’t know.
What is new bank alert? A new bank on the town with great deal!
6% interest monthly for a year! You can put in unlimited capital to earn the interest! Great deal! CAPITAL Guaranteed with 100% no risk of capital regardless of the amount that you deposited. Better than SDIC deposit insurance!
This is the rate
DO take note. The interest about is the rate for monthly interest!
This will almost double your money after 1 year!
Banks!
Banks play a crucial role in our modern financial system, serving as intermediaries between individuals and businesses seeking loans and those looking to deposit their savings.
One of the fundamental aspects of a bank’s operation is the ability to earn money through the capital deposited by their customers.
How banks generate revenue from depositor capital and the mechanisms behind this process.
Interest Income:
The primary way banks earn money is through interest income on loans and advances granted to borrowers. When a bank lends money to individuals or businesses, it charges interest on the amount borrowed. The interest rate charged by the bank is higher than the interest rate paid to depositors, allowing them to earn a profit margin.
Spread or Net Interest Margin:
The spread, also known as the net interest margin (NIM), refers to the difference between the interest earned on loans and the interest paid to depositors. This spread accounts for a significant portion of a bank’s revenue. Banks carefully manage this margin by balancing the interest rates offered on loans and deposits, taking into consideration market conditions and risk factors.
Fees and Commissions:
Aside from interest income, banks also earn revenue from various fees and charges levied on different services they provide. These fees can include account maintenance charges, ATM fees, wire transfer fees, overdraft fees, and more. Banks may also earn commissions from facilitating investment transactions, selling insurance policies, or providing advisory services.
Investments and Securities:
Banks utilize depositors’ funds for investments in various securities like government bonds, corporate bonds, and other financial instruments. These investments can generate returns, adding to the bank’s revenue. However, it is important to note that investment activities come with inherent risks and must be carefully managed to protect depositors’ capital.
Loan Processing and Origination Fees:
Banks earn additional income by charging processing fees or origination fees when providing loans. These fees are charged to cover the costs associated with processing loan applications, evaluating creditworthiness, and completing necessary paperwork. Loan origination fees are typically a percentage of the loan amount and can contribute significantly to a bank’s revenue.
Foreign Exchange:
For banks operating in international markets, foreign exchange activities can also be a source of revenue. Banks provide currency exchange services to customers, earning profits through the difference between buying and selling exchange rates.
Important role of Bank
Banks play a critical role in the economy by efficiently mobilizing capital and facilitating economic growth. Their ability to generate revenue from depositor capital is vital for their sustainability and profitability.
Through interest income, fees and commissions, investments, loan processing fees, and foreign exchange activities, banks can create a viable business model that benefits both depositors and borrowers.
It is essential for banks to strike a balance between profit-making and maintaining the trust and confidence of their depositors.
Adequate risk management practices, transparent fee structures, and responsible lending are important factors that contribute to a healthy and sustainable banking system!
The Great Deal – PABANK
Ok, now you know how bank actually work.
Let me share the new kid on the block PABANK! This bank was just launched in the early part of this week.
These are the rates that are offered and so far there are already two depositors that have put in the money!
Depositor 1
Depositor 1 put in $5.00 for a period of 3 months from 15 Jan 2024 to 14 April 2024. The interest rate is 5.00% for each month! Thus it mean that the depositor will get back $0.45 interest at the end of the 3 months, thus $5.45! Wah! where you get such great deal!
Depositor 1 also put in $15.00 for a period of 12 months from 16 Jan 2024 to 15 Jan 2025. The interest rate is 6.00% for each month! Thus it mean that the depositor will get back $10.80 interest at the end of the 12 months, thus $25.80! Wah! where you get such great deal! Almost double after 1 year!
Depositor 2
This is a more conservative depositor.
She only put in $14.85 for a period of 1 month from 15 Jan 2024 to 14 Feb 2024.
The interest rate is 3.00% for 1 month! Thus it mean that the depositor will get back $0.15 interest at the end of the 1 month, thus $15.00! Wah! where you get such great deal!
Would you like to deposit money in this great bank with amazing interest rate?
You will get your money almost doubled after 1 year!
🙂
Deal 1:
Best Items that I have bought from Shopee.
ONLY the best useful worthy items
Many people I realised that they have only shared things that give them the most commissions. I am different. I will only share things that I have bought, used and found it to be good.
Deal 2:
Webull – Get free money!
Good deal! Do not miss this! Sign up here now for free money!!
Deal 3:
Trust Bank New Clients
- Sign up using referral code KNDBPEPT. Key in this code after you download the Trust Bank App from Trust Bank Website
- No minimum balance account and but great interest rate
- No foreign transaction fee, great exchange rates when overseas. See my review via Trust Card – Excellent Card for overseas usage.
Deal 4:
FSMone – Cheap Comms and can transfer your shares to Personal/Joint CDP for Free
I am using FSMOne.com to invest in funds & ETFs (including money market funds). FSM is good due to the low comms and the free transfer from FSMOne to CDP (typically takes less than a week to transfer). If you do not have an account, you can sign up here. Please use my FSMOne referral code: P0413007.
- You can read my experience of how I buy cheaply using FSMOne and then transfer my shares to Joint CDP within few days via $0 Free of Charge Transfer of SGX Shares from FSM to CDP and updates! – Done in less than 3 days!
- I am also using FSMOne as part of my Estate Planning Plan. You can read about this via Simplified Guide to the Key Gist of Grant of Probate and Estate Planning
Deal 5:
Eskimo – Best Option for Roaming!
For now, you can get 500MB for free just by signing up with my referral link, no purchase required (I get 500MB only too, but only if you buy a paid plan). Referral code: CHING104915
You can read my review here.
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Money just buy you the chance of freedom but can’t buy back time. In life, there is no reset button. Time is limited but money is not.
When you are young and working, you exchange time for money. When you are old, you can have lots of money but you can’t buy time back, especially the things that you have missed (your strong health, time with young child) while busying striking out in career.
Your kids grew up and they no longer need you to accompany them. They no longer want to sit on your lap to share/do things with you…all these time you spent in your 9 to 6 or even longer cubicles…can the money that you have earned by you back these?
We always thought we have more time with our old parents, but we are wrong. Time with them is ticking away every day. One day it will suddenly be gone. There is no regret medicine, no reset in time. Gone is gone and cannot come back. No matter you are billionaires or millionaires, you cannot reset this.
We always thought that we have more time with our spouse every day, but we are wrong. One day they will be gone too. When you read this, please go tell your spouse that you love him/her and he or she is the best thing that you ever had in your life.
Love your life daily. You have one less day with your spouse, parents, children and yourself. Time is ticking away.
Focusing Careyourpresent & living a fulfilling life by supercharging your mind & investment/online income. Careyourpresent Series focus on things that one MUST know in their Life.
- Embracing the Transience: Life Is Short
- Are you one of them?
- Three Pictures to change your Life and Mind
- Live in Present is not easy
- 小时候，幸福很简单。长大了，简单很幸福。
- The Best Advice to Parents and Child
- What if Later never come?
- What will you bring with you on your last day on Earth?
- Time is the ultimate currency, not money
- Our Life only have 5 short Days – we should live the best for every day
- Truly understand Living in the Moment now
- 11 Important Unexpected Life and Money lessons to learn from Your Children
- The days are long but the years are short
- Ditch your mobile phone to build real life
- Careyourpresent: Time is the most important
- Careyourpresent: What is your purpose of life?
- Careyourpresent : Greatest Regrets in life
- Careyourpresent : You might not believe it. It’s little unexpected things that make up a real life
- Careyourpresent: Something only happen once in life, if you missed it, it’s gone forever…
- Careyourpresent : Why is Gold useful?
- Careyourpresent: Frozen. Let it go!
More articles can be found here.
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