What effect could the higher rates at Second National have on the people who want to borrow at Community Bank?

A new bank, Second National, has come to town and to attract depositors, it is offering a 6.5% interest rate for savings accounts. (Community Bank currently offers an interest rate of 6%.)

1 Answer

  • 1 decade ago
    Favorite Answer

    No effect whatsoever.. if people want to barrow at first community they only get a lower rate.. they are two separate banks.. one has nothing to do with the other..

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