New and Used Car Talk Reviews Hot Cars Comparison Automotive Community

The Largest Car Forum in the Philippines



Page 3 of 4 FirstFirst 1234 LastLast
Results 21 to 30 of 36
  1. Join Date
    Nov 2005
    Posts
    36,741
    #21
    sir wildthing, i know there are laws that govern banks.

    The BSP is doing a good job at that.

    Let the economists and bankers in the BSP do their job coz they know what's good for the banking industry.

    Not some freakin congressman who is not an economist or a banker.

  2. Join Date
    Jan 2004
    Posts
    3,361
    #22
    Yes, but congress, I suppose, in their legislative capacity, can create new laws. And hopefully they are consulting with bankers and economists. If the CV of this congressman is to be believed, he seems to have been a CPA at some point in his life, then a lawyer.

    And I suppose bills are heard and go through a vote before passed as law.

    I am not very familiar with government, sorry.

  3. Join Date
    Nov 2005
    Posts
    36,741
    #23
    Yes i understand.

    But the thing about politicians is that they come up with "laws" that create for themselves a pro-poor image to enhance their popularity... without considering the effect.

    Like some politician is gonna declare "The minimum wage should be P1,000/day." He's gonna be so damn popular... champion of the masses..

    and he's gonna put small and medium scale enterprises out of business.
    Last edited by uls; October 25th, 2006 at 12:01 PM.

  4. Join Date
    Jan 2004
    Posts
    3,361
    #24
    Yes, there are politicians like that. I still hope though that some have a little good left in them.

    Oh well, as they say, the people get what they deserve.

  5. Join Date
    Nov 2005
    Posts
    36,741
    #25
    I dont know what effect it will be on banks if they are forced to pay interest on the P100 balance in Mr. Juan dela Cruz's account.

    But whatever the effect will be, we will feel it. Just like any business, banks will adjust and adapt to the prevailing conditions it is operating in.

    Maybe people with loans will be affected.

    Like when the govt imposed the 12% sales tax. Businesses passed the tax to us, the consumers, when the govt imposed the tax on the businesses.
    Last edited by uls; October 25th, 2006 at 02:44 PM.

  6. Join Date
    Apr 2004
    Posts
    3,067
    #26
    pati ba naman kaliitan na interest pinapakialaman pa... no one is forcing the depositors to deposit their money naman ah... halatang wala siyang ginagawa at hindi siya kontento sa interest ng pera nya... haha

  7. Join Date
    Nov 2005
    Posts
    36,741
    #27
    what's good for some may not necessarily be good for everyone.

    Syempre we all want high interest on our deposits. Kahit P1,000 or P500 lang ang average daily balance natin, gusto natin mag earn yan ng interest.

    Pero interest comes from money the banks lend out.

    The interest on ur deposits comes from someone who is paying for a car loan or housing loan or business loan.

    If govt forces banks to pay interest to everyone with P1,000 or P500 ADB in their savings account, saan manggagaling ung pambayad?

  8. Join Date
    Oct 2004
    Posts
    1,526
    #28
    Someone should really post how much profit banks really makes, then we decide if they have to or not.







    :fly:

  9. Join Date
    Oct 2002
    Posts
    3,872
    #29
    Quote Originally Posted by van_wilder View Post
    pati ba naman kaliitan na interest pinapakialaman pa... no one is forcing the depositors to deposit their money naman ah... halatang wala siyang ginagawa at hindi siya kontento sa interest ng pera nya... haha
    Its true that no one's forcing people to deposit in banks. But consider these costs that you have to put up with: (1) penalty for going under ADB; (2) being charged for withdrawals over ATMs (paying for convenience? sure, but most people I know still opt for passbooks); (3) being given lower than 1% interest for your money while they usually charge anywhere between 9% to 40% interest for consumer loans.

    If we agree that the relationship between the bank and depositor is one of lender (depositor) and borrower (bank), banks should give more back to its depositor clients.

  10. Join Date
    Aug 2004
    Posts
    22,710
    #30
    Ah... but if you want more interest, you can always go for a time-deposit or a bond.

    No one forces anyone to put money in the bank. Consider the interest that the bank doesn't pay you as a "silent fee" for them securing your money for whatever duration you leave it in there for.

    Consider. You keep your money at home, it depreciates. It can be stolen, or you might have to use it.

    You keep the money in the bank, and they issue you a passbook, give you call-in inquiry services, bill-paying services, checking services, a passbook and electronic recording of your savings.

    Do they charge you for all of this (oh, yeah, they do charge for ATM withdrawals and such, but everything else...)? Nope... so... if banks have to pay you interest for securing your money for you, how are they going to make money?

    Ang pagbalik ng comeback...

Page 3 of 4 FirstFirst 1234 LastLast
Lawmaker Wants Banks to Pay Interest on All Accounts