Michael

People can get a 30 year fixed rate home mortgage at about 4% in the US. How much interest should the bank pay depositors in order to make money on the mortgage including possible defaults, processing and handling fees, and bank staff plus if interest rates rise, the bank is stuck with that mortgage but then may be paying depositors more than 4% to cover that outstanding 30 year fixed rate mortgage.

If they paid 10% interest for deposits and loaned the money out at 4%, the bank won't be solvent very long.

You might be able to get near 8% in India if the account is held in rupees but inflation is running at near 7%. Therefore the rupee will likely drop against the US$ by about 6% per year in relation to the US$.

In Japan, there is deflation and generally the customer has to pay the bank to hold his/her money.

Most of Europe is also currently in a deflationary trend (excluding the UK) so pretty soon, depositors may have to pay the bank to hold their money.

Sally Redux

How were they paying you?

p0kernp0nies

Affiliate money.

p0kernp0nies

I never looked,at rates, for 15yrs until today.

Sally Redux

Yes but how was it paid to you?

sir_eccles

Still not answering the question then? If you are here illegally, perhaps a consultation with an attorney is in order.

p0kernp0nies

Obviously not through banks.

Pulaski

While there is some underlying economic truth to you analysis, the mechanics of what you describe is completely wrong. Something like 99% of mortgages, and IIRC 95% of the economic value of mortgages (banks are now obligated to carry a little of the risk they create by lending money on a mortgage) over the past six years has been sold to the US Treasury. .... The banks have been getting fat by collecting fees for originating the mortgages and selling bundles of mortgages at a lower interest rate/ higher price than the consumer-borrower paid. In other words the mortgage business has become a fee & trading based business not an interest rate margin business. ..... And in fact this was largely true even prior to 2008, with mortgages either being sold to Fannie Mae or Freddie Mac in bundles, or used for private securitizations created by Wall St investment banks.

p0kernp0nies

Nobody has bothered to answer my question.

scrubbedexpat099

What question

Amie06

Are you concerned that if you return to England you won't be allowed back into the US?

Michael

I wanted to keep it simple since he thought banks paid at least 10% interest rates in the current market. However in big picture, someone is holding 30 year bonds for mortgages that has risks that may be paying 4% so why should a bank pay him more than 1% when his principle is insured and he can take out the money at any time?

augigi

I am getting 3.55-4% in my account in Australia - main reason I keep it there and just transfer via xe when I need any.

nun

The executor of the estate will pay the inheritance into a bank account that you specify. They might even give you a cashier's check......you should be talking to the executors not this forum.

md95065

At which point the OP can start sending emails to random people asking them to help him set up an account and cash the check in exchange for a share of the inheritance if they would first just send him $500 by Western Union ...

(At least that seems to be how people in Nigeria usually do it when someone dies and leaves them money but they don't have a bank account into which it can be deposited ...)