Lenders count on most customers keeping their money in on-demand accounts
The Central Bank said the average rate banks are now paying for overnight, or on-demand, deposits was 0.13 per cent in January
The latest Central Bank monthly release on retail interest rates in the market – released a few hours later – gave a clear reason for the jump. The cost of the most deposits for the banks? Well, the Central Bank release said in its latest release that the average rate banks are now paying for overnight, or on-demand, was 0.13 per cent in January. It may now be, according to the regulator, standing at an eight-year high. But it’s miserly.Female business founders don’t need more roadblocks to funding
The weighted average rate on new household deposits locked in for agreed terms was 2.51 per cent in January.
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